Question

How does a business get qualified as a B Corporation?

a. It must meet all of the Global Reporting Initiative standards.
b. Its results must meet the independent standards developed by B Lab.
c. The firm must be chartered by its state government as a benefit corporation.
d. It must have already received at least three environmental excellence awards.

Answer 1

A business qualifies as a B Corporation by meeting the independent standards developed by B Lab and, in some states, being chartered as a benefit corporation.

Step-by-step explanation:

A business can become qualified as a B Corporation by meeting the independent standards developed by B Lab. B Lab is a non-profit organization that assesses a company's social and environmental performance, accountability, and transparency. These standards evaluate a business's impact on various stakeholders, including employees, customers, communities, and the environment.

In addition, in some states, a business may need to be chartered as a benefit corporation to be recognized as a B Corporation. This legal status requires the company to have a clear social and environmental mission and to consider the impact of its decisions on a wide range of stakeholders.