What is B Corp?
What is B Corp and Why Should You Care ?
As awareness for the environment and social responsibility continues to grow, people want to work for, buy from, and invest in businesses they believe in. It is easy to claim you are a 'green' and 'good' company, but people today want to see proof.
In this blog, we’ll dive into what B Corp is and why you should care.
What is B-Corp ?
B Corp, which stands for Benefit Corporation is run by B Lab. This is a non-profit organization founded in 2006 by three friends who studied together at the Stanford University : Jay C. Gilbert, Bart Houlahan and Andrew Kassoy. The reason for founding B Lab was the realization that companies need to do more than just making profit and that a different economic system was needed. A system that is inclusive, equitable and regenerative. A B Corp-certified company is therefore committed to people and the environment in addition to the goal of profit.
B Lab operates worldwide with offices in the US, Europe, Canada and New Zealand and a partnership in Latin America with Sistema B. B Corps meet high standards of social and environmental performance, transparency and accountability.
What makes the B Corp Certification Unique ?
Certifying as a B Corporation involves more than just product- or service- level certification. The B Impact Assessment (BIA) examines the impact of a company's operations and business model on its workers, community, environment, and customers. From supply chain and input materials to governance and employee policies and benefits, B Corp Certification demonstrates a company’s commitment to meeting high standards of verified performance.
The B Corp movement is growing rapidly, with over 7,000 certified B Corporations in over 93 countries worldwide, including well-known brands such as Patagonia, Ben & Jerry’s, and The Body Shop. We are very proud to announce that Pylos59 is now also a certified brand. B Corp companies cover a wide range of industries and sectors, proving that any business can prioritize social and environmental responsibility.
You don't just become a B Corp. To become a B Corp, companies must undergo a comprehensive assessment covering good governance, employees, society, environment and customers. This ensures that a B Corp is meeting high standards across all aspects of its operations.
To obtain this certification, companies must achieve a minimum score of 80 points in social and environmental performance. They must also integrate B Corp's commitments to stakeholders into company documentation, including their articles of association, and pay an annual fee based on annual turnover figures. Companies must recertify every three years to maintain B Corporation status.
Why should you care about B-Corp ?
Supporting B Corp companies means you’re supporting businesses that are committed to making a positive impact on the world. B Corps have demonstrated that they take their social and environmental responsibilities seriously and take steps to ensure that their actions are reflecting that commitment. Choosing to support B Corps means you’re not only getting a quality product or service, but you’re investing in a company that makes a positive difference.
Conclusion :
If you’re looking for clarification on a company’s social and environmental impact, B Corp certification provides just that. The rigorous certification process ensures that B Corp companies must meet high standards and have proven a strong commitment to transparency and social and environmental responsibility. As awareness for the environment and social responsibility continues to grow, supporting B Corp companies is an easy way to set these values as a priority in your daily life.
In the next blog, I will explain how to become a Certified B Corp and describe the steps of the Assessment Process.
