B Corp is an advanced certification system that goes beyond product or service considerations. Instead, B Corp certification evaluates the overall social and environmental conduct of businesses (across industries) by considering their impact on workers, customers, communities, and the environment. The B Corp rating is based on past performance, not on future aspirations, which means that only companies that have been in operation for a minimum of 12 months are eligible to be considered for the B Corp mark. However, start-ups can apply for Pending B Corp status which enables them to register their commitment to strong social and environmental standards. Certified B Corps are required to amend their legal documents to oblige their board of directors to balance profit and purpose, and aim to benefit all stakeholders as opposed to just shareholders of the business. All certified B Corps sign the B Corp Declaration of Interdependence, whose two opening clauses state that 1. “we must be the change we seek in the world” and 2. “all business should be conducted as if people and place mattered.” Currently there are over 2500 certified B Corps in more than 50 countries worldwide (NB: Valid at the time of writing, January 2020).
B CORP
