Have your say on the evolution of B Corp certification
4 October 2022 at 2:05 pm
B Lab is significantly changing the way it awards its B Corp certification for purpose-led businesses, and you’re invited to share your thoughts.
Budding B Corps will now need to meet non-negotiable standards designed to better assess business impact, marking a shift from a historic flexible approach to achieving an 80 point B Impact Assessment score across a range of criteria.
The new changes have been set out in a draft and made open for public consultation, allowing community members to contribute to the evolution of the B Corp movement, which defines social, environmental and governance best practice for businesses.
In order to be certified in the future, B Corps must now satisfy performance requirements contextualised to their business characteristics in ten specific areas, which focus on building an inclusive, equitable and regenerative economy. This includes purpose and stakeholder governance, worker engagement, climate action, impact management and human rights, among others.
Input received during the consultation period will be considered for inclusion in the next version of the standards, with the official launch expected to be rolled out in a phased approach beginning in 2024.
B Lab first announced a review of its performance requirements in December 2020 to ensure its certification remains relevant and continues to evolve to differentiate and hold accountable companies using business as a force for good.
“Continuous improvement is one of the foundational principles of B Lab. As the B Corp community and our global movement grow, we must uphold this commitment by continually evolving the tools and strategies we use to effectively differentiate leading businesses and help all companies improve their impact,” read an online statement from B Lab Global launching the draft consultation period.
“This is critical to provide clarity to B Corps and all businesses using our standards to guide their own journeys of continuous improvement; galvanise impact on topics that define what good business looks like; and ensure that B Lab’s standards are informed by ongoing developments from other standards organisations and regulations from government bodies across the world.”
The new standards have been developed in consultation with key stakeholders including international subject matter experts, B Lab’s six Regional Standards Advisory Groups and its independently-governed Standards Advisory Council.
Certified B Corps, companies considering or in the process of becoming a B Corp, sustainability and social justice advocates, academics, journalists, students, funders and those with an interest in the B Corp movement are invited to read the standards and complete the accompanying survey by Tuesday 15 November 2022. An informational webinar will run on Tuesday 18 October 2022.
