B Corporation Certification
Issuing Organization:
B Lab
Label purpose:
B Corporation Certification is designed to recognize companies that meet high social and environmental performance standards, accountability, and transparency. It aims to build a community of businesses committed to redefining success by being the best in the world and the best for the world. This certification goes beyond product or service quality to assess the overall positive impact of the company on its workers, customers, community, and environment.
Certification Criteria:
To become certified, companies must complete the B Impact Assessment - a comprehensive evaluation of a company's impact on its workers, community, environment, and customers - with a minimum score of 80 out of 200 points. They must also meet legal accountability standards by amending their corporate governance structure to be accountable to all stakeholders, not just shareholders.
Geographical Coverage:
To become certified, companies must complete the B Impact Assessment - a comprehensive evaluation of a company's impact on its workers, community, environment, and customers - with a minimum score of 80 out of 200 points. They must also meet legal accountability standards by amending their corporate governance structure to be accountable to all stakeholders, not just shareholders.
Target Industries/Segments:
B Corporation Certification applies to any for-profit company with at least one year of operations spanning various industries, including manufacturing, services, retail, and more.
Certification Process:
The process includes completing the B Impact Assessment, undergoing a review by B Lab staff, including documentation review and possibly a site review for verification, and making legal amendments to incorporate stakeholder interests into the company's governance structure. Finally, companies must sign the B Corp Declaration of Interdependence and pay an annual certification fee.
Certificate Validity:
The certification is valid for three years, after which companies must recertify to demonstrate ongoing commitment to the standards. The recertification process involves completing a new B Impact Assessment to account for any changes in operations or impact.
Benefits for Consumers/Producers:
For consumers, the B Corp seal assures that a company is committed to not just profit but also positive social and environmental impact. For certified companies, it offers differentiation in a crowded market, strengthens their brand, enhances their ability to attract talent and retain employees, and provides a platform for continuous improvement.
Sustainability Impact:
B Corporation Certification drives systemic change by encouraging businesses to consider their impact on all stakeholders and the environment. It fosters a global culture shift to redefine business success, leading to reduced inequality, lower poverty levels, a healthier environment, stronger communities, and the creation of more high-quality jobs with dignity and purpose.
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