Among the B Corps that you may already know and whose products you use are Ben & Jerry’s, Patagonia, Couchsurfing International and Etsy. In fact, more than 1,200 firms from 38 countries and 121 industries are now certified B Corps, with more being added every week.
A B Corp is essentially a sustainable business or social enterprise that voluntarily meets higher standards of transparency, accountability and performance. It has earnings in mind – unlike a non-profit – but considers stakeholders other than just investors and shareholders. So its aim is to make money, but in a long-term sustainable way.
B Lab is talking to companies and organizations in Asia, including National University of Singapore, and The Family Business Network Asia, to find ways to raise awareness of sustainable businesses and of the B Corp concept here.
Mongolia’s New Media Group is the so-called Founding Certified B Corp in the region. It is made up of several subsidiaries focusing on commerce, design, investment, marketing and technology, and deems itself a social enterprise that “empowers human-centered business”.
Elsewhere in the region, there is one B Corp in Vietnam, one in Taiwan, two in Hong Kong, three in India and seven in South Korea.