B-Corps and sustainability specialist
In this video, Rebecca gives an overview of the application process involved in becoming a B Corp. She outlines the timelines to expect, the resources needed, giving you the tools to evaluate whether the process is worth the resources needed to apply.
In this video, Rebecca gives an overview of the application process involved in becoming a B Corp. She outlines the timelines to expect, the resources needed, giving you the tools to evaluate whether the process is worth the resources needed to apply.
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10 mins 57 secs
There is a rigorous and time consuming application process for B corp. This process covers all the way from the business practices right down to how the company treats their employees. However, the B Corp label boosts a company’s reputation, is attractive to talent, and gives access to a community of sustainable companies - the certification is arguably worth it.
Key learning objectives:
Identify the three stages in acquiring B Corp status
Explain in detail what each of these stages involve
Highlight what happens after passing all three stages
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It can typically take anywhere between six months to a year to become a certified B Corp.
The B Impact Assessment (BIA) kicks off the assessment stage. The BIA is a free, online questionnaire that aims to measure the overall impact of a company on all of its stakeholders. The BIA asks questions about how the day-to-day operations of a company create a positive impact for the company’s workers, community and environment. There will be between 100 to 200 multiple choice questions and the number of questions varies depending on the size and complexity of your company.
For most companies, the assessment takes between 1-3 hours depending on its size, age & complexity.
After completing the BIA, this information is passed on to the B Lab team. The B Lab team will then calculate your score by rigorously analysing and verifying the long-term validity of your claims to determine if your company meets the 80-point bar for certification.
Your B Impact Report will break down your scores across the different categories of governance, workers, community & environment, providing you with an overall score. If you meet the 80 point threshold, your company will progress to the review stage.
If your company is still above 80 points at the review stage, you will be assigned a standards analyst. More verification documents may be required at this stage. During the hour-long verification phone call with your standards analyst, you’ll be asked questions to reveal more detail or clarity on areas of your application.
If your company gets to the review stage of the application process and has a score of 80+, you’re a certified B Corp. If your company got to this stage and dipped below the 80 points, there is a grace period to try to improve your score.
You then get sent your B Corp Declaration of Interdependence, a list of principles to incorporate into your legal framework: these include being a purpose-driven organisation, being the change you want to see in the world and doing no harm.
This is where you’ll be required to pay your annual certification fee, which will depend on your annual sales figures. For example, if your annual sales are up to £149,000, you’ll pay a fee of £500. If you have a turnover of £1bn, you’re looking at a fee of upwards of £50,000. Re-assessment is required after two years, and any company can fill out the online BIA anytime.
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