Benefit corporation legislation does not require a benefit corporation to use any particular third party standard to prepare its annual benefit report. Nor are they required to have that report certified or audited by a third party.
The below list is not intended to be exhaustive and B Lab does not take any position on whether any third party standard listed (or not listed) below should be deemed acceptable. It is up to the benefit corporation, its directors, and ultimately its shareholders, to determine whether any particular third party standard meets the statutory criteria.
In addition to those third party standards listed below, more than 100 'raters' of corporate sustainability practices are listed in the 'Rate the Raters' report published by the research and consulting firm SustainAbility. This list is available for free at http://www.sustainability.com/library/rate-the-raters-phase-two.
If you are aware of a third party standard that meets the statutory criteria that you think should be included on this list, please contact firstname.lastname@example.org.
This site is run as a public service by B Lab, a nonprofit whose mission is to use the power of business to solve social and environmental problems.
For information on B Lab's other initiatives, please visit www.bcorporation.net.
Legal Disclaimer: The information on this site does not constitute legal advice and is provided solely as a reference. Those interested in electing benefit corporation status should discuss with their legal advisors the potential risks and liabilities and specific processes associated with this for the company's circumstances and state of incorporation.