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B Corporation: A New Generation of Entrepreneurs

The new paradigm of success, which comes from the hand of a generation of

entrepreneurs with a committed outlook, seeks to integrate public concerns into

businesses in a collaborative way and with a purpose focused on triple impact. A B

Corporation works to generate a positive social and environmental impact, in the same

way that it seeks to obtain profitable results.

B Lab, the organization in charge of issuing the B certification, was founded in 2007 by

three entrepreneurs from the United States after two of them (Joy and Bart) sold their

basketball equipment company. They had created the company with an eye on

environmental impact, but the new owners dropped those improvements due to cost

concerns. Since then, they have sought a way to standardize and centralize those

entrepreneurs who seek to prioritize a mission beyond profitability.

These new business models that promote a more inclusive and regenerative economy

work with vulnerable social actors, measure environmental impact, and take actions to

integrate these variables into a new successful model. Purpose-driven companies

proactively measure their impact and go through an assessment process to obtain their B

certification. The purpose that drives these companies is reshaping the market, since

companies participate in the solution of public and global issues.

There are currently more than 4,000 B Corporations around the world, 18% of which

are concentrated in Latin America. Companies that work to generate positive social,

environmental, and economic impact are known as Triple Impact Businesses. Such is

the case of Animaná, a certified B Corporation based in Argentina that works in

sustainable fashion. Animaná works with natural fibers from Patagonia to create fashion

pieces, prioritizing sustainable production processes by training artisans and producers

in the region. It currently collaborates with more than 7,000 artisans in the Andes who

produce a wide variety of pieces that are marketed online or in the store, located in the

neighborhood of Palermo, in the city of Buenos Aires.

B Corporations work collaboratively and encourage the change in the economic

paradigm. In 2012, Sistema B was founded in Latin America, an organization that aims

to promote B Corporations, facilitating collaborative spaces through collective actions

such as B Movement and +B Consultancy, among others.

There are new business models where success is measured as much by financial results

as by social and environmental impact. The private sector has a new challenge and that

is to address the purpose of businesses in society.

Correa, M. E. (2019). Sistema B y las empresas B en América Latina: Un movimiento

social que cambia el sentido del éxito empresarial. Caracas: CAF. Retrieved from

Translation: Marlene Bloch

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