What does the future of B Corp look like?

We’re big fans of B Corp - you probably know that!

 The needs of people and the planet are changing rapidly, and completing the  B Impact Assessment (BIA) is a great way to understand and improve the impact of your business on your people, communities and the planet.

 And, there is always room for improvement.

 The B Impact Assessment was first introduced in 2006, and since then the world has changed beyond all recognition.

 B Lab (the non-profit arm of B Corp) is considering how it can respond to the changing needs of people and the planet and developing the performance requirements to become B Corp Certified.

 Last week I attended the B Lab discussion on evolving Performance Requirements for B Corp Certification to deepen my understanding of the new standards, and enable me to respond to the consultation.

 This is an important development for B Corp, and I wanted to share the main points as I understand them.

What were the key points of the discussion?

Impact. Clarity. Responsiveness.

Impact.

I’ll cut through the jargon first…

 B Corp Certification is a way of demonstrating that your business meets the highest standards of social and environmental performance. It proves that you care about the planet and its people… simple! 

 B Lab creates the standards which are at the heart of the B Corp movement, and are adapting these requirements to meet the problems of our changing world. 

 And it’s a world that’s changing rapidly.

 So, adapting the way we do business, and the way we measure ‘good’ business is essential to creating impactful change.

‘Our standards serve as the foundation for everything our network does’ - B Lab

Clarity. 

Central to B Corp values is transparency, which is why the changing requirements remain an open conversation.

The current B Impact Assessment requires a company to attain 80 points, from a  combination of sections (governance, workers, environment, customers, communities). It’s intentionally difficult, and very achievable if your business can prove its positive impact.

 And impact is the operative word. B Lab is increasing its focus on impact, which can only be a good thing.

Responsiveness. 

By adapting the B Corp Certification, B Lab is evolving to meet the unpredictable challenges we’re facing: including material issues such as the cost of living crisis, energy insecurity, unemployment, and of course the climate emergency.

Our world will always be changing, so it’s encouraging to see B Lab so ready in adapting requirements to meet these changes, because a rigid framework won’t stand the test of time.

The aim is to have a Certification ‘universally applicable and relevant towards achieving an inclusive, equitable, and regenerative economy’

The new performance requirements will see B Corp businesses assessed against 10 specific topics, which ensure a well-rounded, holistic definition of what good business looks like.

What I like about B Lab is that they walk their talk. They’re inclusive and transparent,  respecting and encouraging a wide range of responses to the new performance requirements.

 The evolving requirements is an open and ongoing discussion. I’d encourage you to read and share your feedback with B Lab here. (But you need to be quick, the deadline is 15th November!)

 If you’ve been thinking about B Corp, but found it’s overwhelming, or you’ve not enough time, we get that, and we can help. Whether you want group support or bespoke 1-1 support, we are here to help you!