5 things to know about B Corp
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We are now 25 businesses in Quebec to follow the B Corporation movement and that are certified at the moment. The founders have created it with the goal to defend their belief that prosperity and environment, could be combined. Even though it is growing in popularity, the certification is starting to be known in our province, there is still some facts that need to be clarified. Therefor, we want to present you 5 important things to consider about B Corp.
Using business as force for good
Initially, the name comes from Benefit Corporation. It describes the certification as a tool to influence our occidental society with social practices and the values of the company. Too often, we associate this mentality to ONG, but it can be easier for traditional businesses to guide their actions towards a human consciousness. This way, the certification is admissible for every for-profit organization that has at least one year of operation.
B Corp is to business, as fairtrade is to coffee.
The goal of this certification is not to reach a high score or to prioritize each businesses. B Corp is a guide to manage better your work practices. To be elligible, your business needs to have at least 80/200 at the test, including your ecological footprint and your employees satisfaction. The price will be evaluate according to your sales revenue, starting at 500$.
At this time, there is more than 2500 businesses certified, in 150 different industries, divided in 60 countries. This initiative was started in United-States, where Patagonia, well-known in the outdoor industry, was one of the first certified. Considering the interest in ecology growing, this movement is taking more and more importance.The businesses become curious about changing their work practices. Each year the community organizes a retreat to different cities to encourage and to share creative initiatives. This year, it will be this next fall in Los Angeles.
We are in an era where the words « ecology », « sustainability » and « fairtrade » are sometimes overused in the media. In marketing, it is proved that 59% of the consumers will prefer to buy a sustainable product (Bonnell, 2015). Some organizations will take advantage of this trend to rebrand their business and to reach a new proportion of people who cares about ecology, especially in the present millenial. We can see this happening with the increase of biological products that can now be found in markets that classify themselves as fair or local products. This makes it harder to differentiate businesses that are environmentally friendly. This certification is meant to give a certain credibility and validity to these practices which are recognized as worthy socially and environmentally.
A continuous certification
After being recognized by B Corporation, it is the beginning of an ongoing process. With this certification, the business commits to retracing its environnemental print and to documenting his global actions. The B Corporation certification is made every 3 years, in fact, this process must be updated frequently. The stability of a business culture is essential, as well as the functionality of the tools used for documentation.
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Sources des bannières : unsplash.com
Sources : https://scholar.colorado.edu/cgi/viewcontent.cgi?article=2766&context=honr_theses