Part 2: Unlocking the B Corp Badge. A 10 step Guide to B Corp Excellence
In a world where business is constantly in flux, a new dawn beckons for companies that aspire to be more than profit-driven entities. Picture the B Corp, not just as a certification but as a beacon, showing the path for businesses with a conscience on a global stage. Reflect on your current image and prepare your journey to success.
So, what magic does the B Corp badge contain? How do you prepare for this transformative journey? 🗺️ 🌎
The B Corp Impact Assessment
Short for BIA, the B Impact Assessment is a comprehensive tool used by over 150,000 businesses worldwide. It's designed to measure, manage, and improve a company's positive impact across various stakeholders, communities, customers, suppliers, employees, shareholders, and certainly the environment. Achieving a minimum verified score of 80 points on this assessment is the first step towards B Corp Certification. 🏆
The assessment delves deep into a company's practices and outputs across five key categories:
Governance: How does your company integrate social and environmental goals into its decision-making processes? For instance, what portion of your management is evaluated in writing on their performance about corporate, social, and environmental targets?
Workers: How does your company treat its employees? What percentage of the company is owned by full-time workers, excluding founders and executives?
Community: Does your company actively support and engage with its local community? What percentage of management comes from underrepresented populations?
Environment: How environmentally responsible are your company's operations? Do you monitor and record universal waste production?
Customers: How does your company ensure its products or services benefit its customers? How do you verify that your product improves the impact of your client organizations?
Now, if you're feeling a bit overwhelmed, don't be afraid. The B Impact Assessment is designed to be educational. Each question often comes with supplemental resources, including implementation guides and real-world company examples. This ensures that businesses not only understand the "what" but also the "why" and "how." 🎯
What is the B Lab?
Behind the B Corp movement is the B Lab, a non-profit organization that serves a global movement of people using business as a force for good. The B Lab is responsible for the B Impact Assessment and the Certification Process. They ensure companies meet the social and environmental performance standards, accountability, and transparency.
Source: B Impact Assessment Structure
Pathway to B Corp Certification:
A Step-by-Step Guide
1. Determine Your Track on the B Impact Assessment (BIA)
Every profit company with a year or more of operations can embark on the B Corp Certification journey through the BIA. This assessment is tailored to your business's unique attributes:
Your ‘track detail attributes’ will dictate the questions you encounter, so it's crucial to set it up accurately from the beginning. If you're uncertain about your track, consult the guidelines or contact the local B Corp team.
Remember, there's no strict size limit for aspiring B Corps, but companies with specific characteristics, like being less than a year old or being a large multinational, might have additional requirements.
2. Embark on the B Impact Assessment
Begin by registering for the BIA, a confidential tool that evaluates your company's positive impact on various stakeholders, including workers, suppliers, the community, and the environment.
B Impact Assessment (BIA):
The assessment comprises approximately 200 questions
adapted to your company's specific track
To ensure your company's governance structure is aligned with stakeholder considerations. Utilize the Legal Requirement Tool
A score of 80 or more is needed for B Corp Certification
Tooling in the BIA that help you to improve your Score:
The BIA also offers features like adding team members, exporting the assessment
An improvement advice and information how to set proper goals
3. Submit Your BIA for Review
Once you've achieved a score of 80 or above, it's time to submit your BIA for a professional review. More information about the submission fees and process can be found here.
4. Navigate the Review Process
This process is divided into two main stages: evaluation and verification. The duration of this process can vary based on your company's unique attributes (these we covered in step 1 above).
Reviews take time. Be sure you take this into account when signing up. Average waiting times are:
Evaluation Queue ≈ up to 6 months
Evaluation ≈ up to 1.5 months
Verification Queue ≈ up to 1.5 months
Verification ≈ up to 2.5 months
5. Join the Evaluation Queue
After submission, your company enters the Evaluation Queue. Here, a B Corp analyst will assess your company's suitability for certification. You can still make edits to your assessment during this phase, potentially improving your score. Companies with high-quality submissions are fast-tracked to the next stage. To enhance your submission's quality, aim for a score above 85, complete the legal requirements, and ensure clarity if your company has a complex structure.
It can help to setup your notifications as “enabled“, this way you receive notifications in time and you are able to act quickly. Don’t forgot to monitor your “review page“. This page shows all the updates and tasks that are assigned to you.
Make sure your notifications are enabled
Monitor your review page, for updates and tasks
6. Undergo Evaluation
An Evaluation Analyst will connect with you through your BIA. Again, therefore keep an eye out on your messages panel. Their role is to validate key components of your assessment, ensuring it mirrors your business operations accurately.
They'll dive into your company's structure, and any particular industries you might be involved in.
Quick and clear communication with your analyst can expedite this stage, especially for companies with complex structures.
Tip: You will be placed in the queue depending on the time you complete tasks at this stage. Companies that complete tasks first will be prioritized, so make sure you check frequently.
7. Progress to Verification
Upon entering this stage, you'll be asked to upload documents to your Verification Report. This report contains a tailored list of questions based on your BIA responses. The speed at which you complete tasks in this stage can influence your position in the queue, so it's beneficial to be proactive.
8. Verification
A Business Sustainability Analyst will be assigned to inquire your assessment and the tasks you've completed. They'll schedule a review call, during which you'll discuss your verification report and provide supporting documentation for your BIA responses. If your score decreases during this phase, you'll be granted additional time for improvements. This stage also involves a thorough review of your disclosure questionnaire and a background check on various aspects of your company. Adjustments may be made based on the findings, and you might be asked for more documentation to finalize your score. How to prepare the review?
Tip: If you drop below the 80 points mark, make sure to improve your points within 3 months.
9. Celebrate Your Certification
Once you've surpassed the 80-point benchmark and have undergone verification, you'll transition to the Post-Verification stage. Here, you'll sign the B Corp Agreement and Declaration of Interdependence, and settle your annual certification fees, which are determined by your annual sales and region. Your B Impact Report and Score will then be made public, and you can create your profile in the B Corp directory. 🏆
If you've reached this stage, I want to personally congratulation you on becoming a Certified B Corp! I'm eager to hear about your experience in this journey.
10. Welcome the B Corp Community
After finalizing the agreement and paying your fees, you can proudly showcase your B Corp status. Local B Corp teams will provide you with resources and welcome you to the community. Depending on your location, you might receive a package detailing opportunities to engage with fellow B Corps, from events to collaborative working groups. The B Hive tool directory is another excellent resource, allowing you to connect with other B Corps globally, fostering collaboration and mutual growth.
11. Prepare for Recertification
To retain your B Corp status, you must undergo recertification every three years. This involves updating your impact assessment and verifying your score, especially after significant events like a Change of Control or an Initial Public Offering. You can use your BIA as a tool for continuous improvement in preparation for recertification.
This guide provides a comprehensive overview of the B Corp Certification process. By following these steps, you can demonstrate your commitment to positive social and environmental impact, joining a global community of like-minded businesses!
Embracing the B Corp Legacy
As we stand at the crossroads of business evolution, the B Corp movement offers a clear path forward. It's a call to action for businesses worldwide to recognize their potential to be Knight’s Templars for positive change. But it's also a reminder that “with great power comes great responsibility” – Winston Churchill 1906.
Every B Corp leaves behind a legacy – a legacy of positive impact. Whether through sustainable environmental practices, community engagement, or employee welfare, these businesses are writing a new chapter in the landscape of corporate history, one where success is measured in not only profits but especially the positive stamp left on the world. 💚🌎
The Power of Collective Action
The B Corp community is a testament to the power of collective action. Alone, a single business can make a difference. But together, the B Corp community can revolutionize industries, influence policy, and set new global standards. A movement that showcases the strength of unity, collaboration, and shared vision. Are you not ready to become a BCorp, but you want to learn more? Make sure to read and join the community and encourage collaboration.
Inspiring Future Generations
The B Corp movement is not just about the present. It's about setting the stage for future generations. By championing ethical and sustainable business practices today, B Corps ensures a brighter, greener future. Inspiring the next wave of entrepreneurs to think beyond profits and envision businesses that uplift, empower, and sustain.
The B Corp Revolution
So, what is a B Corp? It's more than a certification. It's a revolution in the way we think about business. Presenting a business model where profit and purpose coexist.
And how to become a corp? It's a journey of commitment and continuous improvement. It's about aligning your business with a global movement championed by the B Lab that seeks to redefine business success. 💚🌎
Hereby concluding our third piece on B Corporations. If you want to make a meaningful change within your organization, but not quite “Business Assessment” ready? Feel free to check out our previous article here:
