Behind the B
Have you ever heard of a Certified B Corporation?
Don’t worry. Neither has about 75% of the population. For the whole month of March, we are going to take you Behind the B and tell you everything you need to know about the B Corporation Community.
B Corps are companies that meet high standards in social and environmental performance, accountability, and transparency. Currently there are more than 4,000 B Corporation companies including Patagonia, Athleta, Ben and Jerry’s, Allbirds, Tom’s and many more.
To be a B Corporation, your company must complete the B Impact Assessment. This assessment scores your company in five different categories: Workers, Community, Environment, Customers, and Governance. Each of these categories make up an overall score. To be eligible to become a Certified B Corporation your score must be 80 or higher. This assessment measures performance on factors from supply chain and input materials to charitable giving and employee benefits.
According to bcorporation.net, to achieve certification, a company must:
- Demonstrate high social and environmental performance by achieving a B Impact Assessment score of 80 or above and pass a risk review. Multinational corporations must also meet baseline requirement standards.
- Make a legal commitment by changing their corporate governance structure to be accountable to all stakeholders, not just shareholders, and achieve benefit corporation status if available in their jurisdiction.
- Exhibit transparency by allowing information about their performance measured against B Lab’s standards to be publicly available on their B Corp profile on B Lab’s website.
B Corporations must constantly evaluate their impact on their workers, customers, the environment, and their community. They are required to prioritize these impact areas as much as (if not more than) profit.
The B Corp Community is on a mission to drive a global movement to use business for good. We are working to transform the global economy, making it inclusive, equitable, and regenerative.
As a Certified B Corp, we aspire to create positive social and environmental change in the world. We are committed to increasing our impact and our B Corp score every year. We are aiming to increase our score by 40% by 2025. In July 2022, we will go through the process of recertifying as a B Corporation. We are Proud to be a part of a community of leaders doing business differently.