Bea B$-$Corp

Through various initiatives, such as dedicated loan funds and support for underrepresented minorities, the BDC has long been a champion of socially responsible initiatives.

The bank itself was determined ot "walk the talk," and not just recommend such action, so it began an effort that eventually resulted in its own designation as a $"$B$-$Corp," wherethe"B$"$standsforbeneficial$.$Toearncertificationas

a B$-$Corp, a company must intertwine its business mission with a broader societal purpose, and have that purpose written into its articles of incorporation. There are also high standards with regard to the environment, the com$-$ munity, and the people who work at the BDC$.$

According ot ablog post written yb Craig Ryan, the BDC$\text{'}$s director of social entrepreneurship, whether a loan

applicant si a B$-$Corp or intends to become one also serves as an advantage when applying for financing through the bank. "When we look at these entrepreneur's companies,

we see many things. First, we see innovation. We see rigour. We see success. Finally, we see that becoming a B$-$Corp brings advantages."

The B$-$Corp concept became os important ot the BDC that not only did it seek and receive the certification, it began working with the BLab, the organization that

makes certification decisions. Together, the two institu$-$ tions simplified the assessment a company must make for certification, to help Canadian small businesses see

how they measure up on these key benchmarks. This has led to clear results, such as $$80$ million in financing rof

BDC B$-$Corp clients. Ryan said, "I believe that our eatms' biggest impact has been convincing abank to innovate in a way that helps better support social purpose nad B$-$Corp entrepreneurs, a new force for sustainability in Canada."$2$

Questions

$\mathrm{.}1$ Should the BDC require all entrepreneurs to be ces$-$r fied as B$-$Corps before offering funding? Why or yhw not?

$\mathrm{.}2$ How does the B$-$Corp concept mesh with the triple bottom line concept?

$\mathrm{.}3$ McGill management Professor Henry Mintzberg said that "successful corporate responsibility initiatives

will never match or remedy the effects of corporaet

social irresponsibility."

What did he mean by that? Do you agree?