b corps

I read a GreenBiz article today that that was just too relevant to my classes not to share. The key point of this article was that B Labs have created a problem for themselves in their B Corporation certifications. First off, there are way more B Corporations than I thought there were, and some of them are really well known companies, I mean I have a pint of Ben and Jerry's in my freezer right now and I was browsing Etsy just last night.
The problem is that eventually B Corporations have to become Benefit Corporations or loose their B Corp. status. Benefit Corporations are stricter than B Corporations because Benefit Corps are backed by state laws and legislation, meaning they can be sued if they aren't following through with their sustainable or social commitments. That's a lot of commitment and pressure for a company, so some might think they're better off without it. For example, Etsy has to decide whether or not to become a Benefit Corporation this year and they are publicly traded so the process is not a simple one. There are actually only 2 companies in the US that are publicly traded and B Corporations, Etsy and Laureate Education. Personally, I own some Tesla stocks and I was surprised and a little disappointed that none of the publicly traded Green Giants, which includes almost all of them, (the 9 sustainable companies or product lines that make $1 billion plus annually that is directly attributed to their sustainable products) are certified B Corporations.