What is a B Corp company?

In a world where capitalism is increasingly being touted as the cause of many of the world’s problems, B Corp companies aim to make business a force for good by putting sustainability and a positive social impact at the heart of their mission. The B Corp concept aims to revitalise the idea of what a business can do and the good that can come from running an ethical, socially conscious and green enterprise.

If this sounds like the kind of idea you’d like to embrace in your business, here are a few pointers about what being a B Corp means and how your business can move towards these goals.

What makes a business a B Corp company?

A B Corp business is a type of company that prioritises social and environmental impact alongside financial return. In other words, making a profit is no longer your sole aim. Instead, part of your vision is to be a force for good in your community and the wider world.

B Corp companies are certified by B Lab, a non-profit organisation that monitors B Corp certification. B Corp companies need to meet rigorous standards of:

Social performance – looking at how the business interacts with society and how it can use its time, resources and influence to help those in the local and global communities.
Environmental performance – measuring your carbon footprint and your wider environmental impact on the planet, plus the sustainability credentials of the business, your products, your investments and your suppliers.
Accountability – a B Corp business is held accountable to a higher standard of performance, transparency and impact. This helps drive systemic change and create a more responsible and sustainable economy.
Transparency – B Corps must publicly report their impact data on the B Impact Assessment, a document that’s available to the public. This provides stakeholders with a clear understanding of the company's impact and helps increase accountability.

What is B Lab’s aim for the B Corp movement?

B Lab's mission is to use business as a positive force for good. Its aim is to dismantle the view of Western capitalism as a destructive force and to show that businesses can provide employment, take care of their communities and pursue a goal beyond financial profit.

If you want to become a B Corp business, B Lab can assess your social and environmental impact, governance and accountability – and will provide certification to companies that meet its high standards for a well-structured B Corp organisation.

B Lab provides resources, networking opportunities and advocacy support to help your B Corp grow and achieve a greater and more meaningful impact. In essence, B Lab serves as the steward of the B Corp movement. It drives systemic change through the creation of a new type of economy that balances purpose and profit to help you do more good.

Becoming a B Corp

Becoming a B Corp is a rigorous process. But if you have a higher vision for your business, it’s a great way to demonstrate your commitment to social and environmental impact, transparency, and your overriding accountability to your employees, customers and wider communities.

For more information on the process to become a B Corp business see https://www.bcorporation.net/en-us/programs-and-tools/pending-b-corps/

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