B is for B Corps.
Next up in our A-Z of Sustainability, we look at B Corporations, what they are and how they help us make us more conscious choices in our daily lives.
Why are companies becoming B Corps?
Do you know how many decisions you make a day? On average 35,000, where 95% of them are subconscious, according to a Harvard study.
A prime time for decision-making is when we’re at the supermarket. As a consumer, I have the choice of 20 different types of yogurts: from vanilla to rhubarb, 100 ml to 2 L pots, dairy to coconut-based products. One could even say that there’s too much choice.
However, what is even more difficult to choose is the yoghurt that is most social and sustainable driven. Danone, the largest producer of yogurt in the world, knows this and wants to do even better. They have aligned themselves with other sustainable-driven companies such as Patagonia and Ben & Jerry’s to become a B Corp.
What is a B Corp
A B Corp (or B Corporation) is a company which is certified as having achieved high standards across five categories: governance, people, community, environment and customers. Since the certification was created in 2006 by non-profit B-Labs, over 3,500 companies across 70 countries have received B Corp status.
The sphere of sustainability and positive impact is scattered with different certifications, but B Corp is generally regarded as one of the best as it takes a holistic approach to assessing the social and sustainable effectiveness of a business’s overall strategy.
In short, B Corps, place as much attention on people and the planet as it does to profit.
The ‘B Corp’ stamp is becoming more familiar to conscious consumers, as Millennials and Gen Zs increasingly adapt their choices to align with their personal values.
People want to work for, buy from, and invest in businesses they believe in. B Corp Certification is the most powerful way to build credibility, trust, and value for your business.
So why isn’t everyone becoming a B Corp?
The process isn’t exactly fast or simple. First companies have to fill out a B-Impact Assessment form which provides a snapshot of a company’s score when it comes to the five B Corp categories. This score is then compared to other companies in the same industry, and improvements must be made until a company scores at least 80 out of 200 points. Only then can a company be validated as a B Corp, which usually takes between four to six months. If accepted a company would be certified for three years.
Because certification isn’t easy to get, consumers can feel confident that when they deal with a B Corp, it’s the real thing. The B Corp label can simplify purchasing decisions by helping consumers choose companies that share their values.
So next time you are faced with a choice of Greek or coconut yoghurt, make one of your 35,000 decisions that day easier by looking out for the B Corp logo.
For more information about B Corps see their website.
If your company is embarking on its sustainability journey, reach out to us to discover how Alectro's Virtual Sustainability Officer® can swiftly assist you in measuring and managing your carbon footprint.
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