Dr Adefolake Adeyeye adefolake.adeyeye@durham.ac.uk
Assistant Professor
In 2015, B Corp certification was launched in the UK. Since then, over 1,200 companies have adopted certified B Corps status. Most certified B Corps in the UK are small and medium-sized, with SMEs accounting for 99.9% of businesses in the UK. The B Corp movement seeks to change the economic system from a shareholder capitalism to a stakeholder economy. Certified B Corps adopt a stakeholder-driven mode towards ‘high standards of social and environmental performance, accountability and transparency’. The article explores the growth of the B Corp movement; issues around its standards; certification process, including the legal requirement; transparency; and governance. It examines the effectiveness of this standard-based approach for stakeholder governance. It argues that the certified B Corp creates an avenue for stakeholder governance. However, to fully realise the shift towards stakeholder governance, there is a need for greater work towards achieving accountability for all key stakeholders identified as shareholders, workers, community, environment, and customers.
Adeyeye, A. (2024). Certified B Corps: An Examination of a Standard Based Approach to Stakeholder Governance. European Business Law Review, 35(6), 755-778. https://doi.org/10.54648/eulr2024041
Journal Article Type | Article |
---|---|
Acceptance Date | Jun 9, 2024 |
Online Publication Date | Oct 21, 2024 |
Publication Date | 2024 |
Deposit Date | Aug 22, 2024 |
Publicly Available Date | Oct 21, 2024 |
Journal | European Business Law Review |
Print ISSN | 0959-6941 |
Publisher | Kluwer Law International |
Peer Reviewed | Peer Reviewed |
Volume | 35 |
Issue | 6 |
Pages | 755-778 |
DOI | https://doi.org/10.54648/eulr2024041 |
Public URL | https://durham-repository.worktribe.com/output/2763518 |
Accepted Journal Article
(454 Kb)
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