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B Corp Certification
Joyce Sou
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Overview of B Lab & Vision
Why certify as a B Corporation
How to Get Started
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B Lab is serving a global movement ofPeople Using Business as a Force for Good
So that one day all companies compete to be Best for the World
And society enjoys ashared and durable prosperity.
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The Global Movement
Canada
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Evolution of Business
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People are Demanding Better
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How interested are you in B Corp Certification?• I’m doing it• Interested, but something is standing in the way• I’m curious, but need to be convinced• I’m a skeptic• N/A
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The B Corporation certification is to business what Fair Trade is to coffee and LEED is to green buildings.
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Certified B Corporations are using business as a force for good.• B Corps are certified by the independent nonprofit B Lab
• B Corps meet higher standards of social and environmental performance, transparency, and accountability
• Over 1400 companies in 41 countries
• Makes a legal commitment to consider all stakeholders
What is a Certified B Corp?
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1. Social & Environmental Performance
2. Transparency 3. Accountability
Companies using business as a force for good.
They meet verified higher levels of:
“B Corp certification further signals to our
stakeholders (coworkers, customers,
suppliers, and community) that our
values are truly at the core of our business.”
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Environment100% green energy
Workers 50% full time employee participate in external professional development
Community1% of sales donated to environmental NGOs
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Governance• Transparency
• Ownership
Workers• Job Growth
• Compensation & Benefits
• Employment Practices
• Work Environment
• Employee Ownership
Community• Suppliers
• Local
• Diversity
• Charity / Volunteerism
Environment• Energy Use
• Facilities
• Supply Chain
• Manufacturing
+ Impact Business Models• Direct Impact Products
/Services
• Targeting Underserved Communities
• High Impact Supply Chain
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50%
26%
6%
1%
5%2%
4%6%
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Benchmark performance
Attract and Engage Talent
Save Money and Access Services
Partner with Peers
B Corp Certification helps companies:
Show Leadership
Differentiate from Pretenders
Generate Press
Attract Investors
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Why are you interested in becoming a B Corp?
• Maintain Mission
• Differentiate from Pretenders
• Benchmark and Improve Performance
• Attract and Engage Talent
• Other
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Maintain Mission
Adopting the B Corp legal standards:
• Bakes the values of the company into its legal DNA
• Gives protection and permission to consider non-financial stakeholders (community, employees, suppliers, environment)
• Ensures that mission can survive over time
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Jennifer McKaig
“The biggest surprise to me was realizing that our employees deeply cared about the things the B Impact Assessment measured.”
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“B Corps are 46% more likely to have satisfied and engaged employees than ordinary businesses.”
“Employees who are satisfied in their jobs because they believe in what they are doing have 16% better overall performance and 125% less burnout than their peers.”
“Almost two-thirds of millennials said they would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring.”
• B Corp certification provides a platform to engage current staff and give employees more meaning in their work
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• For-Profit Companies of Any Size
• Any Industry / Geography
• Customized assessment based on industry, size, geography
• Any Legal Structure (sole proprietors, LLP’s, Corporations, etc.)*
• Companies over 1 year old – special Pending B Corp program for start-ups**
Who Can Become a B Corp?
** For more on Pending B Corp, visit: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp
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Meet Performance Requirement Complete the B Impact Assessment and earn a reviewed minimum score of 80 out of 200 points
Meet Legal RequirementDetermine the path for your corporate structure
Make it OfficialSign the Declaration of Interdependence, pay certification fees and and put a profile up on bcorporation.net
To learn more, visit:www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp
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Step 1: Do the AssessmentTimeline: 1.5 – 3 hours
❑ Create a B Impact Assessment Login
❑ Take a first pass of assessment
❑ Review initial score
❑ See how you stack up compared to 20,000 + that have taken the assessment
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Step 1: Do the Assessment• Visit www.bimpactassessment.net to get started
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Step 1: Do the Assessment
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Step 1: Do the Assessment• Take a first pass – estimates are great at this stage
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• Take a first pass – estimates are great at this stage
Step 1: Do the Assessment
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Step 1: Do the Assessment
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• Use ‘Revisit This’ and make sure to save your work
Step 1: Do the Assessment
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Step 1: Do the Assessment
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Step 2: Documentation & Review call ❑ Submit Assessment for Review (90% complete)
❑ Submit Documentation (as required) ❑ B Lab Staff will Schedule 90 minute call
❑ Review Assessment, refine score
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Step 3: Follow up
❑ Update assessment (if necessary)
❑ Upload outstanding documentation
❑ Finalize score with B Lab staff
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Step 3a: Fine Tune & Continuous Improvement
❑ If your score is below 80, use this opportunity to fine tune your plan to improve your score and deepen impacts
❑ Celebrate success! Each action you take is moving you down the path toward becoming a better company!
❑ Develop a timeline for certification & share with your team
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Best Practice Guides
Step 3a: Fine Tune & Continuous Improvement
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Step 3a: Fine Tune & Continuous Improvement
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Adopting the B Corp legal standards:
• Bakes the values of the company into its legal DNA
• Gives protection and permission to consider non-financial stakeholders (community, employees, suppliers, environment)
• Ensures that mission can survive over time
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• A legal entity that has protection and permission to consider its impact on all stakeholders, not just shareholders.
• Most benefit corporations are required to create annual reports on their positive impact.
• B Lab is an advocate behind the legislation
Benefit Corporation
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Legal Requirements Term Sheet & Certification Fees ❑ Sign B Lab Term Sheet
▪ Certification term is 2-years▪ Participate in on-site review if randomly selected (10% of Certified B Corps
randomly selected each year)▪ Annual certification fees based on the tiered structure
Company Revenue Fee$0 - $499,999 $500$500,000 - $1,999,999 $1,000$2,000,000 - $4,999,999 $1,500$5,000,000 - $9,999,999 $2,500$10,000,000 - $19,999,999 $5,000$20,000,000 - $49,999,999 $10,000$50,000,000 - $99,999,999 $15,000$100,000,000 - $999,999,999 $25,000$1B+ $50,000+
Make it Official
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What is your next step?
• Start or complete the B Impact Assessment• Meet the legal requirement• Improve my score to be over 80• Complete documentation• Engage my team internally
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Join us.
Redefine success in business.Help create the new economy. Build a better business.
Compete to be not only the best in the world, but the best for the world.
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Resources▪ B Corp Press: http://www.bcorporation.net/news-media
▪ How to become a B Corp: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp
▪ Legal Requirements: http://www.bcorporation.net/become-a-b-corp/why-become-a-b-corp/protect-your-mission
▪ FAQ for Investors & Directors: http://www.bcorporation.net/sites/all/themes/adaptivetheme/bcorp/pdfs/faqs_investors_and_directors4.pdf
▪ Pending B Corp Certification for Start Ups: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp/steps-start-ups
▪ B Impact Assessment: http://bimpactassessment.net/
▪ Case Studies: http://bimpactassessment.net/case-studies
▪ Certification Fees; https://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp/make-it-official