1. B Corporations

2. Certified B Corps B is for Benefit Redefining success in business
Certified by B Lab to meet rigorous standards of social and environmental:
Performance
Accountability
Ethics
To sustainable business what LEED certification is to green buildings
Link to B Corp Video
B Corps are redefining success in business- it certifies that businesses define success not just by how much money we make, but by our impact on our community and environment
We recognize that business has immense power, and B Corps are seeking to use this power to solve social and environmental problems
B Corp certification is to sustainable business what LEED certification is to green building.
B Lab is like the US Green Building Council, who certifies LEED buildings

3. Registered Benefit Corporations
A new corporate form: The Benefit Corporation
Legal status administered by states
Similar to LLC, Corporation, etc
Purpose to create a public benefit
Protects mission, allows freedom to make decisions in the best interest of society, rather than just shareholders
Benefit corporations operate the same as traditional corporations but with higher standards of corporate purpose, accountability, and transparency.
Benefit corporations give leaders legal protection to pursue a higher purpose than profit, and offer the public greater transparency to protect against pretenders. Required to publish an annual report of some kind, but not to be audited.
As a certified B Corp, we had to amend our operating agreement to state that we would take into account the interests of ALL stakeholders, not just shareholders, when making decisions.

4. This is a map where Registered Benefit Corporations are allowed
This is a map where Registered Benefit Corporations are allowed. Now 34 laws passed.

5. Why Do B Corps Matter? Any for profit business can be certified
Legally required to consider how our decisions impact all stakeholders
Officers have legal protection to consider the interests of all stakeholders
Setting a higher standard for good business
Provides metrics
3rd Party verification
B Corps represent a better way to do business
All Stakeholders- our employees, community, the environment
Amended our Operating Agreement to reflect this- helps us to protect our mission
Setting a higher standard for business- seeking to be an example of a new way to run a business.

6. How Do B Corps Compare?
Strong results, even when compared to sustainable businesses
Focus on more than just profits

7. Who Are Other B Corps?
Over 2,400 companies in 50 countries and 130 industries
Microgrid was the third Certified B Corp in Missouri and the first in St. Louis
Ben and Jerry’s, Patagonia, Seventh Generation, Solmetric (we use the Sun Eye)
Side Note: In MO, other two B Corps are Big Vision Media Group and Arnold Development Group (mixed income real estate), both in Kansas City

8. Steps to Certification
Take the B Impact Assessment
Must earn 80/200 points
Amend your governing documents
Protects your mission
Sign the Declaration of Interdependence
Two year term
- Must score 80/200 to be certified
- Microgrid amended it’s operating agreement to state that major decisions must take into account ALL stakeholders. Helps to protect our mission.
- 2 year terms, then can recertify. Fees based on tiered structure. 10% of B Corps are audited in person every year.

9. Why Did We Do This? Commitment to the Triple Bottom Line
Framework to measure our success against
Third party verification
Attract Talent
Forward thinking
This certification strengthens and puts metrics to our commitment to the Triple Bottom Line, helps us to continually improve.
-We are using this as a baseline- it tells us where we are and where we can improve. Our goal is to start here and go above and beyond in all categories
-Third Party Verification: Just as buildings are LEED certified, we are a certified B Corp
-Differentiator
-Forward thinking: We want to stay ahead of the curve, and this is where we see business going
B Corps are important because they inspire all businesses to compete not only to the best in the world, but the best for the world.

10. How Do We Compare? 80/200 points required to achieve certification
B Corp Average: 97 points
Microgrid: 106 points
Goal: Continual Improvement

11. Going Beyond B Corp
Committees – Microgrid has a 3BL Steering Committee responsible for maintaining a focus on each bottom line
Provides employee engagement
Results in more buy in
Inclusion Challenge – Opt-in program for Certified B Corps to encourage improvement in Diversity and Inclusion Metrics
The Right Thing to Do – We want to live out these values whether or not we are Certified

13. Director, Internal Operations
Questions?
Chad Schubert
Director, Internal Operations
Resources: