Oregon's Benefit Corporation roster grows
By Christina Williams, Sustainable Business Oregon
Sustainable Business Oregon
Justin Yuen, FMYI
FMYI announced via its blog this week that it received certification as a Benefit, or B, Corporation from the nonprofit B Labs. FMYI's designation brings Oregon's total of B Corps. to 25 — up from 19 reported in September.
"Our B Corporation designation helps us scale our impact by joining other like-minded, innovative companies using business to bring about change," said Justin Yuen, FMYI founder and president in the blog post.
B Corporations go through a fairly rigorous certification program that ensures the business pursues environmental and social benefits along with financial performance. B Labs is on a state-by-state campaign to get the certification recognized legally. So far Maryland and Vermont have signed on — each state boasts just five B Corps. each. California has the most B Corps. with 103, and there are 354 in total.
There's no legislation in the works to make B Corps. an official designation in Oregon, but there's already support in the state for similar corporate practices. An Oregon law passed in 2007, gives companies legal standing to authorize or direct "the corporation to conduct the business of the corporation in a manner that is environmentally and socially responsible."
A real-time roster of B Corporations is available at the B Labs website.
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