Business law is developing in a new direction in Canada. That
direction is firmly based on profitability and material prosperity.
However, that prosperity is increasingly being linked to a more
sustainable, environmentally responsible and widely shared model of
carrying on business.
B Lab is an international NGO that certifies for-profit
companies that demonstrate their positive impact on society and the
environment. According to B Lab, certification involves two
elements. The first is demonstrating a positive impact under B
Lab's rigorous B Impact Assessment. The second element requires
adoption of a legal structure that locks the mission into the
company's core.
B Lab investigates the state of corporate law in every
jurisdiction that grants certifications. In some jurisdictions, B
Lab has determined that the existing law does not permit mission
lock and has lobbied for statutory change such as the adoption of
benefit corporation statutes in the USA and elsewhere.
