Should Your Company be a Public Benefit Corp or a Certified B Corp?
MadiDrop PBC is both a public benefit company (PBC) and a Certified B Corp. These designations serve us well as we strive to achieve our mission to ensure safe water for all people. As a PBC, our articles of incorporation dictate how shareholders and stakeholders are included in our social mission. Our bylaws reflect this multi-stakeholder commitment and ensure we issue an annual report.
B Corp certification is overseen by B Lab, an independent non-profit providing a 200-point assessment of a company’s commitment to social principles, such as sustainability, fair trade and transparency. We are proud to say that MadiDrop PBC achieved a score of 128/200 (for reference, the minimum score is 80 and Ben and Jerry’s – a shining star in the B Corp world – achieved a score of 101).
For companies considering how to incorporate their social mission in their corporate structure and daily operations, the Yale Center for Business and the Environment, along with social venture pioneer Patagonia, has published a comprehensive guide on b-business. For the quick version, check out Fast Company’s overview.
What’s the bottom line? Although still fairly new to corporate structuring, both designations offer pathways for a company to be intentionally outward-facing and socially-minded. For MadiDrop PBC, our status as a PBC and Certified B Corp means that our commitment to the health of families around the world is as strong as our commitment to sound business practices.