In 2020, B Lab introduced the legal requirement to amend a company constitution as part of B Corp certification. This was done with the larger goal of driving more businesses to solidify their mission, and raise the standard of decision-making to ensure all stakeholders are considered alongside shareholders. These measures are described broadly as a stakeholder governance model. You can read more about B Lab’s introduction of this model here.
As part of B Lab’s ongoing exploration of the evolution toward stakeholder governance, an independent team of academics from the University of Technology Sydney is seeking to understand the practical impact of the new legal requirement for Certified B Corporations. They’ll explore how Certified B Corporations develop a stakeholder governance approach, how they establish and drive a public benefit purpose in their businesses, and the role that their company constitution plays. Outcomes of the research (available to participants) will include materials such as a best practice guide on how to manage stakeholders within the new legal framework.
If someone familiar with the legal requirement and governance at your B Corp would like to participate in the research, you can find a time to meet with the UTS researchers for a 45-minute interview here. The research team would follow up with another short discussion 6 months later to study any changes over time. This research will be very valuable in understanding the practical effect of the legal requirement, including both the challenges and benefits. If you have any clarifying questions about the research, please contact Dr. Alice Klettner, UTS Business School at firstname.lastname@example.org.