ESG
To more accurately define them , B Lab – the nonprofit behind B Corps – explains : “ Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance , public transparency , and legal accountability to balance profit and purpose . B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive , sustainable economy .”
So , in other words , B Corp Certification is for businesses what Fair Trade is for products and goods .
What to expect from the process It ’ s not easy to become a B Corp . Certification is holistic , meaning it ’ s not exclusively focused on a single social or environmental issue , so businesses have to achieve rigorous standards that require engagement from every aspect of a company . And these standards don ’ t just relate to the businesses themselves , but to every company or organisation affiliated within the value and supply chain .
“ FOR US , THE B CORP PROCESS IS REALLY BENEFICIAL . IT ’ S REQUIRED US TO HOLD OURSELVES ACCOUNTABLE FOR OUR ACTIONS ”
YVONNE FILLER MARKETING MANAGER , GOOD INNOVATION
Yvonne
Filler , Marketing Manager at Good Innovation – a certified B Corp – shares that B Corp certification is a way to hold businesses accountable for their actions and statements . As a Social Impact Innovation Consultancy , Good Innovation finds creative , cutting-edge solutions to the world ’ s most difficult social problems by helping organisations that want to make a difference do it smarter , faster and , crucially , with greater impact .
“ Becoming a B Corp is a fairly long process , with around 150 questions requiring lots of data – but it wouldn ’ t be a quality standard without it ,” Yvonne shares . “ You need a certain score to pass and be certified . Your score will then be published on the B Corp website , but there ’ s no ranking system .”
50 June 2023