What is the BCorp certification and how can benefit your business?

What is the B-Corp certification and how can it benefit your business?

You might have heard about the B-Corp certification but you’re not quite sure what it is? Or maybe you’re not familiar with it. You might also be wondering how it can benefit your business? Then read on. This article will help you gain clarity on both B-Corp certification and how valuable it can be for your business.

Quick overview of B-Lab

Founded in 2006 by non-profit organization B Lab, the B-Corp certification was born with the belief business can be used as a force good to shift the global economy and create a circular economy that is valuable for people, communities as well as the planet. As well as believing in a better economic system B-Lab contends the world’s most difficult problems cannot be tackled by politicians and non-profit organizations alone. Indeed, B-Lab is convinced it is together that we can build a better and fairer society. Which is why the B-Corp community is present in over 77 countries, works towards the following goals: fight against inequality, more inclusive society protect people and create a better society. We are responsible for our future and the one of future generations.

Journey to become B-Corp certified

The good is news you don’t have to be a C-Suite executive or a professional in sustainability to complete the assessment. What’s more it’s free of charge and confidential. your company to have good practices already in place. Check B-Lab’s guidelines regarding the B-Corp certification : https://www.bcorporation.net/en-us/certification for further information.

Whether you are small or a large business you must score 80 per cent or above to pass the risk assessment which might vary depending the seize of your organization. The risk assessment is based upon factors within your industry and the seize of your company. Organizations need to change their governance in order to benefit both shareholders and stakeholders. They also achieve benefit corporation if the law allows it. Be transparent and allow information based performance compared with B Lab regulations to be shared on their B-Lab profile and website.

Once you submit your questionnaire, make sure you meet all the legal requirements in order to be certified. You must pay an annual fee and sign the b Corp Declaration of independence once authorized.

Benefits of the B-Corp for your business?

Being B-Corp certified enables you to benefit all stakeholders from customers to employees as well as communities and investors and contributing to build better communities the planet as well the economy. This certification benefits both shareholders as well as stakeholders. But that’s not all businesses must commit not to do any harm or benefits through products, practices and profit.

The impact assessment is free of charge and what’s more is anyone within your business can take part in the assessment. It’s a great way to improve your business even further, see where your business, how you stand against competitors. Discuss results with colleagues and senor members of your company for them to share their views. Decide actions need to be implemented to take your business to the next level.

Want to know more about how to get the certification? All the answers to your questions in next week’s article.