Certified B Corporations, AKA B Corps, are businesses that meet the rigorous social and environmental standards set by the nonprofit organization B Lab. One of the key advantages of doing business with a B Corp is their commitment to balancing profit with purpose, which you probably recognize through the B Corp logo on the packaging of some of your favorite products.
But what does it really mean to be a certified B Corp? What are the advantages of working with B Corps? Let’s dive in!
IS ALVÉOLE A B CORP?
Alvéole has been a certified B Corp since 2018.
When we last recertified in 2021, we scored 111.8 points. The minimum qualifying score is 80 points, and the median score for an ordinary business is 50.9 points.
To remain a B Corp, we need to recertify every three years. Not only that, we have to improve our preceding score. This holds us accountable to always improve the ways we do business to make a bigger and better impact on the world.
HOW DOES A COMPANY BECOME A CERTIFIED B CORP
To become a certified B Corp, a company must demonstrate that they are meeting B Lab’s high standards for social, environmental, and governance best practices. Points are awarded in categories such as Ethics & Transparency, Employee Health & Wellness, and Environmental Management.
To be certified, a company must:
- Achieve a B Impact Assessment score of 80 or higher
- Change their corporate governance structure to be accountable to all stakeholders
- Make their B Impact Assessment score public
WHAT ARE THE ADVANTAGES OF DOING BUSINESS WITH A B CORP?
There are many advantages of doing business with a B Corp. By definition, B Corps are companies that use business as a force for good.
Here are just some of the things you can expect when you work with a B Corp like Alvéole.
SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
B Corps are committed to meeting high standards of social and environmental performance, transparency, and accountability. Choosing to do business with a B Corp signals a commitment to supporting companies that prioritize more than just profits.
ETHICAL AND SUSTAINABLE PRACTICES
B Corps adhere to ethical and sustainable business practices. This includes considerations for environmental impact, fair labor practices, and ethical sourcing. Working with a B Corp can align your business with these values.
TRANSPARENCY
B Corps are required to meet strict transparency standards. This means that customers, partners, and other stakeholders can easily access information about the company’s social and environmental impact, governance, and other key metrics.
COMMUNITY ENGAGEMENT
B Corps often prioritize community engagement and give back to the communities in which they operate. This commitment to community development can have positive effects on local economies and social well-being.
EMPLOYEE SATISFACTION
Many B Corps invest in creating positive work environments, fair wages, and employee benefits. This commitment to employee well-being can lead to a more motivated and engaged workforce, which can positively impact the quality of products and services.
MARKET DIFFERENTIATION
In an era where stakeholders are increasingly conscious of social and environmental impact, doing business with a B Corp can be a powerful differentiator in the market.
For example, using services from a B Corp like Alvéole at your building can attract tenants who want to partner with businesses aligned with their values.
RISK MITIGATION
By adhering to high ethical and sustainability standards, B Corps may be better equipped to mitigate certain risks, such as reputational risks associated with environmental or labor controversies.
LEGAL ACCOUNTABILITY
B Corps have a legal responsibility to balance the interests of various stakeholders, not just shareholders. This legal framework ensures that the company considers the impact of its decisions on employees, customers, the community, and the environment.
CONTINUOUS IMPROVEMENT
B Corps are committed to continuous improvement in their social and environmental performance. They have to demonstrate a quantitative improvement every 3 years in order to successfully keep their certification. When you do business with a B Corp, you can expect ongoing positive changes and innovations from the company.
