A B Corp, or a Benefit Corporation, is a for-profit company that meets rigorous standards of social and environmental performance, accountability, and transparency. B Corps are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment.
To become a B Corp, a company must go through a rigorous assessment process that measures its performance across five areas:
- Governance: How the company is structured and managed
- Workers: How the company treats its employees
- Community: How the company engages with its local community
- Environment: How the company impacts the environment
- Customers: How the company treats its customers
Companies that meet the B Corp standards are certified for a three-year period. They must then undergo a recertification process every three years to ensure that they are continuing to meet the standards.
There are over 7,000 B Corps in over 90 countries. Some well-known B Corps include Patagonia, Ben & Jerry’s, and Seventh Generation – and Evergreen!
There are several benefits to becoming a B Corp. B Corps are often seen as more ethical and responsible companies, which can give them a competitive advantage in attracting customers and investors. B Corps are also more likely to be successful in the long term, as they are better able to manage risks and adapt to change.
Evergreen originally pursued B Corp certification in 2019 to ensure that the values that helped us grow and keep team members happy, would be solidified and continue. In 2022, the B Corp committee worked together and across the company to recertify as a B Corp – and through that process we improved in all areas of measurement (see graphic).
Here are some of the reasons why companies become B Corps:
- To attract and retain customers who are increasingly interested in doing business with ethical and responsible companies.
- To attract and retain employees who are looking for a workplace that shares their values.
- To improve their reputation and brand image.
- To be part of a growing movement of businesses that are committed to using their power to make the world a better place.
If you are interested in learning more about B Corps, you can visit the B Lab website at www.bcorporation.net.
Some of the text in this article was supported by an AI language model.