As the ink dries on the Glasgow Climate Pact following COP26, businesses may be left wondering if there is anything they can do to play their part in mitigating some of the most pressing social and environmental challenges the world faces.
Actually – there is.
Certified B Corporation is a status awarded to ethical and socially-minded businesses that can demonstrate how they balance profit with people and the planet.
Companies that achieve B Corp Certification enjoy economic growth above the current averages, and attract loyal customers who are more socially and environmentally conscious than ever. Companies of all sizes and industries can apply, although achieving B Corp status is a commitment that takes work and effort.
In this article, we’ll define what B Corp certification is, and why you should consider it.
More About B Corp Certification
B Corp Certification is given to businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.
B Corps use profits and growth as a means to a greater end: positive impact for their employees, communities, and the environment.
Not only that but becoming a certified B Corp means joining a global community of leaders, using business as a force for good to help solve society’s most pressing problems, including Ella’s Kitchen, Innocent Drinks and Abel and Cole.
Why is Becoming B Corp Certified Important?
Because people want to work for, buy from, and invest in businesses they believe in.
With B Corp certification, you demonstrate your commitment to a better business future, for your employees, customers – and the world around you.
There are also tangible business benefits to working to achieve B Corp Certification.
RECRUIT: top talent, with 84% of millennial workers preferring a socially responsible employer. (Forbes)
ATTRACT: 72% of investors always screen investments for ethical or sustainability risks. (PwC)
BOOST: their organisational saleability, with 82% of investors planning to significantly increase their socially responsible investments this year. (Forbes)
B Corps also proved to be resilient in the face of the COVID-19 pandemic, with only 33% of B Corps reported to have implemented the furlough scheme, compared to a national average of 66%. (PwC)
How to Become B Corp Certified
B Corp Certification is a rigorous process, achieved by receiving accreditation from B Lab (a non-profit organisation). Certification requires a score of at least 80 (out of 200) against five areas of impact: Governance, Community, Workers, Environment and Customers.
We’d be lying if we said it was easy.
The application process and implementing the changes you need to become compliant is time-consuming and difficult – with no guarantee of success for your investment.
Become B Corp Certified with Grantify
There is a simpler way.
With Grantify’s unique, technology-driven platform that streamlines the B Corp application process to save valuable time and help you get certified, faster.
Our team of experts will work with you to help decide the quickest way to secure the points needed to obtain your certification. Our smart platform adapts to your responses, building a customised application journey for the greatest chance of success.