B Corporation is kind of like Fairtrade for ethical businesses. It’s a rigorous accreditation process that measures an organisation’s environmental and social impact, worker, supplier and community relations as well its governance. Businesses that achieve a minimum benchmark of 80 points are accredited as B Corps.
For-profit businesses of all kinds can become accredited. The B Corp community includes B2B and B2C companies; clothing, fast moving consumer goods, property developers, banks, lawyers, superannuation funds and numerous consultants. These diverse organisations all have something in common, a belief in business as a force for good.
We want to be good as well as helping our clients do good. The B Impact Assessment is a thorough process that gives us a roadmap for being more good. There are many small improvements we can make to our business practices over the coming years as we improve our B Impact rating.
Just as you might choose a Fairtrade labeled product, choosing to buy or procure from a B Corp gives you the confidence that the organisation has an ethical approach to business and they don’t put profit ahead of everything else. B Corps consider the environment, their staff, suppliers and community when they do business.
Over 2,000 business around the world are accredited B Corps. There are around 150 in Australia. These are some of our favourite B Corps:
Any organisation can take the B Impact Assessment for free. You can benchmark yourself against B Corps and other organisations who’ve done the assessment. If you reach the benchmark 80 points you can then choose to become accredited. Even if you don’t intend to become a B Corp, going through the assessment offers many insights into your organisation’s processes and impact as well as numerous ways you can improve.
© Freerange Future 2021