What is B Corp Certification?
B Corp Certification is a designation that a business is meeting high standards of verified performance, accountability, and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials. In order to achieve B Corp Status a company must;
- Demonstrate high social and environmental performance by achieving a B impact Assessment score of 80 or above and passing their risk review.
- Multinational organizations must also pass baseline requirement standards.
- A company must make a legal commitment by changing its corporate governance structure to be accountable to all stakeholders, not just shareholders, and achieve benefit corporation status if available in its jurisdiction.
- They must also 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.
Why Should You Think About Becoming a B Corp?
They are leaders in the movement for economic systems change and they reap truly remarkable benefits. They attract and retain employees, build trust with consumers, communities, and suppliers and draw mission-aligned investors.
Positive sustainability credentials give your brand a competitive edge and new potential employees are always looking at credentials before they agree to take on a role, they look for ethical values. Becoming a B Corp will give you a much greater chance of standing out amongst the rest.
overall, it puts your business in a better position for the future. Consumers are always on the lookout to engage with companies that are sustainable and are recognized as being committed to improving communities and bettering the planet.