What is a B-Corp Certification?
B-Corp certification refers to organisations and corporations who voluntarily meet the highest standards of environmental and social performance. The standards cover a company’s impact in several crucial areas, such as Community, Environment, Governance, Workers, and Customers.
B-Corps certification remain a relatively new concept; however, more and more business leaders see the value in using business as a force for good. Currently, B Lab has accredited 5,908 companies in 85 countries across the globe in 158 industries.
These corporations are transforming the global economy to benefit communities, people, and the planet. Continue reading for your complete guide on the B-Corp Certification and the certification process.
About the B-Corp Certification
Certified B-Corp businesses are those that meet high standards of verified performance, accountability, and transparency on a range of factors. These factors include charitable giving, employee benefits, and supply chain practices.
Certified corporations are leaders in a global movement for a regenerative, equitable, and inclusive economy. Businesses are certified by B Lab, which measures a company’s entire environmental and social impact.
Those who become certified reap remarkable benefits. For instance, they build trust with their customers, suppliers, and communities. Additionally, they attract and retain employees and intrigue investors whose mission aligns with theirs.
The certification is also holistic and does not focus solely on a single environmental or social issue. Moreover, the process of achieving and maintaining the certification is rigorous.
What Are the Requirements to Become a B-Corp?
In order to become B-Corp certified, a business has to demonstrate high environmental and social performance. They do this by scoring 80 or above in the B Impact Assessment and passing B Lab’s risk review.
The baseline requirement standards must also be met. Moreover, businesses looking to become B-Corp certified have to make a legal commitment by altering their corporate governance structure to be accountable to all stakeholders as well as all shareholders.
They must also commit to achieving corporation status if it is available in their jurisdiction. Businesses interested in becoming a B-Corp must also exhibit transparency by allowing B Lab to gather information about their performance and measure it against their standards.
How to Become B-Corp Certified
The certification process will vary depending on the size of your company and its complexity. However, all businesses must carry out a number of steps to become B-Corp certified.
You will be required to complete online assessments, including the B Impact Assessment and the Disclosure Questionnaire online. In addition, you will have to complete a Risk Review and gather relevant documentation.
B Lab has very detailed guides on its website, which will detail the exact steps involved in applying for B-Corp Certification. You can find out more here.
Summary
You should consider applying for B-Corp Certification if you want to commit to positive environmental and social change. Brands like Ben & Jerry’s, Patagonia, and Ella’s Kitchen have all become certified B-Corp in an effort to balance profit with purpose perfectly. This certification shows the world what you stand for, and since the process of achieving it is so rigorous, it is more meaningful.
Want to know more about B Corp Certifications? Check out our various courses for sustainability professionals.
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