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Client Case Study

Specialist Research

B-Corp and Benefit Corporation research for Stewart Investors


Client profile

Stewart Investors is a team of dedicated investment professionals based in Edinburgh, London and Singapore. Their investment philosophy is founded on the principle of stewardship – careful, considered and responsible management of their clients’ funds. 

The challenge

Stewart Investors wanted to know more about the global rise of the B Corp movement and the passing of Benefit Corporation legislation in the US and beyond. They sought to understand why companies are motivated to join the movement, and what they can expect to gain and lose from the shift. Moreover, they wanted a research partner to help identify barriers and solutions to more publicly listed companies being B Corps and/or Benefit Corporations.

Our solution

We used our strong network of contacts to interview multiple B Corps and Benefit Corporations, both small and large (including Laureate Education and Danone) to gain insights on what the movement means for them. We combined expert opinions from leading academics with the practical perspectives of companies, investors, and the leaders of the movement, to gain the full picture and deliver insights that recognise the role of multiple actors in shaping the future of business.


We produced a hard-hitting report entitled 'B Corps and Benefit Corporations: Understanding the implications for companies and investors'. We were invited to present the findings of the report to B Lab (founders of the B Corp movement) because of the fresh insights it delivers. The report was promoted by the Social Enterprise Alliance (a catalyst for growing the social enterprise movement in the US) and a shorter version of the article called 'Why aren't there more publicly-listed B Corps" was featured in Impact Alpha's sustainability news brief.

The team benefited hugely from improving our understanding of the hurdles faced by our portfolio companies in approaching the possibility of adopting B Corp or Benefit Corporation status.
— Stewart Investors Sustainable Funds Group