The B Impact Ratings System is governed by an independent, Standards Advisory Council (SAC). The SAC is comprised of 14-16 members, each respected in the field for their wisdom and each with deep industry or stakeholder expertise.
Under the Standard Advisory Council's guidance, Version 1.0 of the B Impact Ratings System was launched in October 2007, using the best available open source performance standards and impact metrics from numerous sources, including the Global Reporting Initiative. Version 2.0 of the B Impact Ratings System was launched in January 2010. Prior to launching Version 2.0, the SAC engaged stakeholders in providing feedback on the B Impact Ratings System through both a private and public beta. Version 3.0 of the B Impact Ratings System is scheduled to launch in January, 2011.
Through September 2010, when the B Impact Rating System is released in a private beta, B Lab will be working with the SAC along with entrepreneurs, investors, and policymakers regarding the content and weightings of the ratings system.
In September, B Lab will launch a private beta of the B Impact Ratings System. During the private beta, B Lab will ask the Pioneer GIIRS Funds (Hyperlink to Pioneer GIIRS Funds) and the companies that these funds have invested in to test Version 3.0 of the ratings system and provide their feedback. In late 2010, a public beta of Version 3.0 will be launched. The Standards Advisory Council will integrate the feedback from the private and public beta of the ratings system and will launch Version 3.0 of the B Impact Ratings System in early 2011.