What is a B Corp?
Certified B Corporations, or B Corps, are companies verified by B Lab to meet high standards of social and environmental performance, transparency, and accountability.
Purposeful, profitable and resilient, B Corps use the power of markets to maximise, not just profits but, value for all stakeholders, creating a more inclusive, equitable and regenerative economic system for all people and the planet.
Holistic evaluation
The B Corp Certification is holistic, not exclusively focused on a single social or environmental issue. It considers the entire scope of operations of the business.
Rigorous process
Scores are verified through a review process, which includes documentation, calls, and, possibly, onsite visits.
Risk assessment
At the beginning of the certification process, companies must undergo an assessment of risk factors based on their industry and other practices.
Accountability
B Corps exhibit transparency by allowing information about their performance measured against B Lab’s standards to be publicly available on B Lab’s website.
Different pathways to certification
A company’s pathway to becoming a Certified B Corporation will vary depending on a few factors. Revenue, company size and ownership structure are typical criteria to guide companies to their approach to certification.
Recertification every three years
B Corps are required to undergo the verification process every three years, ensuring standards continue to be met and promoting long-term resilience. The assessment is also educational and aspirational, intentionally designed to inform users about new ways to improve their performance and create opportunities for reflection for their business.
Certified B Corporations measure, manage & strive to improve their impact in these 5 impact areas:
Governance evaluates a company's overall mission, engagement around its social/environmental impact, ethics, and transparency. This section also evaluates the ability of a company to protect their mission and formally consider stakeholders in decision making through their corporate structure (e.g. benefit corporation) or corporate governing documents.
Workers evaluates a company’s contributions to its employees’ financial security, health & safety, wellness, career development, and engagement & satisfaction. This section also recognises business models designed to benefit workers, such as worker-owned models or workforce development programs.
Customers evaluates a company’s stewardship of its customers through the quality of its products and services, ethical marketing, data privacy and security, and feedback channels. In addition, this section recognises products or services that are designed to address a particular social problem for or through its customers.
Environment evaluates a company’s overall environmental management practices as well as its impact on the air, climate, water, land, and biodiversity. This includes the direct impact of a company’s operations and, when applicable its supply chain and distribution channels. This section also recognizes companies with environmentally innovative production processes and those that sell products or services that have a positive environmental impact.
Community evaluates a company’s engagement with and impact on the communities in which it operates, hires from, and sources from. Topics include diversity, equity & inclusion, economic impact, civic engagement, charitable giving, and supply chain management. This section also recognises business models that are designed to address specific community-oriented problems.