Over 6,800 businesses all over the world have signed up to B Corps but what does that actually mean for us?
It is very clear that we can not reply on governments to combat the climate emergency, businesses by their very nature are there to make money and often this does not go hand in hand with being environmentally friendly.
B Corps has been set up by conscientious businesses who want to do better and be better, by looking at the “triple bottom line” which includes Financial Profits, Environmental Impact and Social Responsibility as a triple check on how well they are doing as a company for all stakeholders in the business not just their shareholders.
Settling the bar high
The bar is purposely set very high so that it really means something, if you see a product with the B-Corp logo on it you know that the company is committed to the environment and its employees, and will continue to improve over time.
B LabUK are the driving force behind B-Corp in the UK, this is their declaration of interdependence -
We envision a global economy that uses business as a force for good. This economy is comprised of a new type of corporation - the B Corporation - which is purpose-driven and creates benefit for all stakeholders, not just shareholders. As B Corporations and leaders of this emerging economy, we believe:
That we must be the change we seek in the world.
That all business ought to be conducted as if people and place matter.
That, through their products, practices, and profits, businesses should aspire to do no harm and benefit all.
To do so requires that we act with the understanding that we are each dependent upon another and thus responsible for each other and future generations.
Certification
To gain certification a company needs to:
- Demonstrate high social and environmental performance by achieving a B Impact Assessment score of 80 or above and passing our risk review. Multinational corporations must also meet 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 Labs website.
This is a growing organization with more and more businesses every day signing up to make our world a better place and show that business and the protection of our planet and the people on it can work together hand in hand.
There is a directory of companies that have been approved as B-corp:
Why not take a look and see if you can replace current purchased with B-corp choices.
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