Earning profit and staying afloat is the primary goal of every business. However, simply chasing profit without considering your business’s social and environmental impact is not a good idea. This is why today’s businesses are becoming more environmentally conscious than ever. As a business owner, one of the best ways to prove that you care about people and the environment is to make your business B Corp certified. In this article, you will learn everything you need to know about the process.
What is a B Corp Certified Business?
When a business is B Corp certified, it meets the highest environmental and social performance standards. While generating profit is the primary goal of such a business, it is done in a way that doesn’t contribute significantly to the climate crisis. These businesses actively contribute to cleaning communities and making the planet safe again. Also, they ensure that employees get fair treatment and wages. If your business meets the requirement, contact the non-profit organization B Lab to learn more about getting your certification. However, you should expect to follow the steps below:
Research the B Corp Assessment Process
You may think your business is green and meets all the requirements to be environmentally friendly. However, if you do not have a clear understanding of the standard of the B Corp assessment process, you will not qualify. This is why you should research thoroughly and learn about the five assessment areas. B Lab will conduct a performance assessment on the governance, customers, staff, community, and environment. After each assessment, your business will earn points based on how it fared. The higher the points, the higher your chances of getting certified.
Perform a Business Evaluation Yourself
You can evaluate your business independently with a clear picture of the B Lab standards. The online B Impact Assessment was explicitly designed to allow business owners to evaluate their companies independently before the official process. It is a free but comprehensive tool that will clearly show how your business is fairing socially and environmentally. Find out which areas are lagging and make the necessary adjustments. During the online assessment, answer the questions as honestly as possible. You can ask a trustworthy employee to do the assessment if you believe your judgment is biased.
Improve Your Company’s Standing
After researching the process and evaluating your company, the next step is to improve your company’s standing. The results from the evaluation should serve as a blueprint for improving your company’s status. You must score at least 80 points to become B Corp certified. So, as you improve your standards, aim for the highest score you can secure without compromising your company’s profit. The easiest ways to improve your score are by reducing greenhouse emissions, updating recycling policies, improving employee benefits, and contributing to charity. Everything about your company should show that your business is socially and environmentally conscious, from producing goods to human resource management.
Change Your Company’s Legal Structure and Governance
Your company’s governance and legal structure must reflect your new environmentally friendly goals. It should show that your company is dedicated to monitoring its long-term social and environmental impact. Amend the legal framework to ensure your company will be held accountable for not aligning with B Lab’s mission. One of the best ways to change your company’s structure is to become a benefit corporation. It shows that your company’s decision-making process will always involve social and environmental considerations, not just financial ones.
Get the Necessary Documents
B Corp will require verifiable documents that prove your claims. It is not enough to state that your company upholds the best practices for social and environmental consciousness. To support your claims, you must submit up-to-date information about your policies, supply chain practices, governance, structure, and environmental initiatives. If you participate in charitable activities within and outside the community, submit documents to this effect. Ensure you are completely transparent and honest about your company, as B Lab will only grant the certification after a thorough assessment.
Handle the B Impact Report and Questionnaire
Every document you need should be readily available at this stage, so you should start the official process. Write the B Impact Report with complete details about your company’s policies and practices. Your report should be comprehensive without typographical, grammatical, or factual errors. Be as specific as possible about your business’ impact, providing evidence to support each claim. Find out how other B Corp-certified businesses wrote their report and use that as a blueprint for your company’s report. It may not be easy to find industry-specific results, but simply looking at another company’s report will provide much-needed insight.
Request the Official Verification
With your report available, be ready for an official assessment from B Lab. Submit your official application, impact report, and all the documents you need to support your claim. The review usually takes some time. During this time, B Lab may request additional information if there is any uncertainty in your application. Check your email regularly and reply promptly to any inquiry to prove your commitment and transparency.
Finalize and Maintain Your Standing
After the review, B Lab will give you the certification you deserve as long as you meet all the requirements. The certification package will be sent via mail, and you will have the right to display the B Lab logo. You can hang the certificate in your company and add the logo to marketing materials. However, it is important that you maintain your standing if you want to remain qualified. Implementing sustainability policies for social and environmental consciousness is key to remaining B Corp certified.
Conclusion
Many businesses try to get the B Corp Certification and similar certifications just for show. They do this because of the increased public awareness of social and environmental impact. However, if you want to thrive and succeed in the long run, you must make it a core part of your business. Be intentional about your business’ impact and educate your employees to ensure their decisions align with your new goals.
