You may have recently seen some companies displaying the B Corp seal on their websites. This seal is a private certification created in the United States in 2006 by the NGO B Lab, with the goal of promoting a different kind of global economy where profitability can be combined with social and environmental impact. The first 82 Certified B Corps were certified in 2007.
The B Corp seal serves as a certification granted to companies that demonstrate they meet certain sustainability, social, and environmental responsibility standards. Companies that obtain B Corp certification must prove they have a positive impact on their employees, communities, and the environment, in addition to having a clear and defined purpose beyond maximizing profits. B Corp certification has become increasingly popular in recent years as a way to distinguish companies that are committed to sustainability and social responsibility in a world increasingly concerned with climate change and other environmental issues.
B Corp stamp
B Corps are companies that are continuously committed to building an economy that is more inclusive and sustainable for both people and the planet. They do not focus solely on their economic profits; rather, they have a mission to create social, environmental, and economic value for all their stakeholders, including employees, suppliers, customers, the community, the environment, and shareholders. Additionally, they strive to meet high standards of social and environmental impact, public transparency, and legal accountability.
Companies that obtain the certification commit to adhering to the core principles outlined in the B Corp Declaration of Interdependence, which urges, among other things, to act “with the understanding that we are dependent upon one another and therefore responsible for ourselves, each other, and future generations.”
To obtain the B Corp seal, companies must undergo a rigorous B Impact Assessment, where their performance is evaluated based on five key categories: community, workers, environment, governance, and customers. Additionally, companies must undergo a reassessment every three years to ensure that their impact is genuine and to encourage continuous improvement.
The certification process can vary depending on the size and complexity of the companies, but all must follow some basic steps to join the community:
Once the B Impact Assessment is completed, if the company achieves a minimum score of 80 out of 200 points, the company reviews the evaluation together with an analyst. This analyst requests supporting documents to verify the information provided, ensuring that the score is reliable and credible. If, after verification, your score falls below 80, you will have three months to work on improvements and resume the process.
This step involves making changes to the company’s bylaws and committing to include workers, the community, and the environment in decision-making processes. The certification website provides a form that allows you to check the specific legal requirements for a given country and corporate structure.
From there, you can access a PDF with the relevant documentation. This is the case, for example, for a Spanish public limited company (SA):
The B Impact Assessment is submitted to B Lab to verify the score and determine whether the company has truly achieved the 80 points required for certification. All companies applying for certification must pay a non-refundable fee of 250 euros, which is charged when they apply for the first time.
B Lab will review the company’s assessment and determine whether it is eligible for certification. If the company is not eligible, B Lab will provide recommendations for improvement. If the company passes the assessment, B Lab will request payment of the annual certification fee.
The annual fee is determined based on the company’s annual revenue and can range from 1,000 to 50,000 euros. Depending on where the company is from, you may have to pay a different amount of money. You can find information about annual fees in their websites:
Any company or entrepreneur can apply for B Corp certification, but in the case of sole proprietors, their application is intended for the purpose of becoming a company.
Photo: Depositphotos
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