The B in B Corp is open to interpretation. The term B Corp stands for ‘B Corporation ’, and the people behind the B Corp certification are called B Lab. This includes their employees and their customers, as well as society at large and the environment â both locally and globally. An online community for certified B Corporations in the UK, and those interested in the B Corp movement. Certified B Corporations are a new kind of business that balances purpose and profit. Danone is a standout example, working to become the world’s largest B Corp, with 11 certified subsidiaries (including Danone Dairy UK). They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. A commitment to the environment and society is increasingly on everyone’s agenda. Private equity houses too are coming under scrutiny. It is to businesses what Fair Trade is to coffee. âIt just shows that if you are already measuring your impact on your people and the planet, then the certification process doesnât have to take that long! 4. What do Ben and Jerry’s, Patagonia, Bulb, Propercorn, and Abel & Cole all have in common? Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Die Benefit Corporation ist ein Rechtsstatus, der durch bundesstaatliches Recht in den USA verliehen wird. Simply Business - Insurance for your business. It demonstrates to the world around you â your stakeholders, your employees, your customers, and everyone else â that youâre committed to being a force for good in the world. Our engagement survey powers the Sunday Times Best Companies to Work For list. Certified B Corporations are social enterprises verified by B Lab, a nonprofit organization. After completing this assessment, B Lab then assesses and verifies that your score meets the certification standards. Certification requires a score of at least 80 (out of 200) against 5 areas of impact: Governance, Community, Workers, Environment and Customers. Certified B Corporations are a new kind of business that balance purpose and profit. The initial step is to complete an on-line assessment (B Impact Assessment). B Corps are put in touch with one another and are able to share knowledge and build on each othersâ successes. Here corporate responsibility isn't a nice-to-have but a business imperative. So when it comes to funding, B Corp status could be the deal-clincher. B Corp certification requires thinking beyond profit in creating and delivering your organisational strategy. If your consumers, employees or investors are suggesting sustainability is informing their choices, make yours accordingly. Youâll need to score at least 80 out of a maximum 200, Make sure you meet the legal requirements and work on what amendments you can make if you donât currently, Sign the B Corp Declaration of Interdependence and Term Sheet, making your status official, See how we're making a positive social impact, Simply Business staff raise Â£20,000 for Whizz Kidz as they trek the Alps. 2. Similar legal forms have also been passed in Italy and Colombia and are being proposed in several other countries, including the UK. They use ESG specialists to show their backers that their portfolios reflect positive standards and best practice. We value and embrace diversity of identities, experiences, thoughts, needs, and approaches. An online community for certified B Corporations in the UK, and those interested in the B Corp movement. There are three steps to the process: Any for-profit business can become a B Corp, no matter its size, so long as itâs been operating for at least 12 months. At B Lab, we pride ourselves on creating an inclusive and flexible workplace that allows all staff to flourish. Toggle navigation Certified B Corporation. Some companies are both Certified B Corporations and benefit corporations, and the benefit corporation … Legally, you are then required to make decisions which consider all these factors, not exclusively profit maximisation. We communicate frequently, collaborate thoughtfully, learn from, challenge, and celebrate one another and our work. Environmental, Social and Governance (ESG) is now a key element in company statements. Brands are having to fight harder to win. If you have any questions about how the legal requirement for B Corp Certification applies to companies in the UK, please contact us at email@example.com. In 2015 the initiative launched in the UK and there are now 193 B Corporations, including household names: Propercorn, JoJo Maman Bebe, Innocent drinks and Abel & Cole. (Source: www.bcorporation.uk), B Corporations in 2020 and how they've been impacted by Covid. For all it’s more and more important investments are diverse, inclusive and accountable. At the same time, Danone’s UK Essential Dairy & Plant-based business (EDP) – whose brands include Actimel and Activia – … B Lab certifies companies based on how they create value for non-shareholding stakeholders, such as their employees, the local community, and the environment. B Corp status requires a certain level of due diligence, which means future investors can have more trust in a B Corp and potentially less cost when they perform their own. Home: B Work: the place to find jobs at companies that care about the planet, people, as well as profit. Unifying Goal. Great! B Corporation UK. Manager in Corporate Finance M&A ICAEW Chartered Accountant, PwC United Kingdom. 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