Certified B Corporations are a new kind of business that balances purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment.
B Corps share a common philosophy that society’s most challenging problems cannot be solved by government and non-profits alone.
By harnessing the power of business, B Corps use profits and growth as a means to a greater end: positive impact for their employees, communities, and the environment.
The B Corp community works toward reduced inequality, lower levels of poverty, a healthier environment, stronger communities, and the creation of more high-quality jobs with dignity and purpose.
Increasingly people – especially the younger generations – want to work for, buy from, and invest in businesses they believe in.
There are currently over 2,500 Certified B Corporations in more than 50 countries around the world with around 200 here in the UK.
Household brands such as Ben & Jerry’s, Patagonia, Innocent Drinks, Danone, Teapigs and The Body Shop are all Certified B Corporations.
As well as being more ‘ethical’, B-Corp status seems to be good for business. Last year firms certified as B Corps grew on average 28 times faster than UK GDP.
B Corps are transparent about their operating practices and are held to a high standard of legal accountability. Companies are recertified every two years, and if they fail to meet set criteria, they lose their B Corp status. Not only that, but the evaluation criteria are dynamic, making sure that B Corps are always moving with the times and are on the cutting edge of what “good” looks like at any given point in time.
So next time you have the choice to buy products or services on the high street, or from a business supplier, look out for the B-Corps popping up across all sectors of the economy. Supporting these businesses is an opportunity to be part of something better.
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