In today’s world, businesses are expected to do more than just generate profit—they are called upon to create positive change. That’s where B Corps come in. These companies are redefining success by prioritizing social and environmental impact alongside financial performance. In this blog, we’ll explore what it means to be a B Corp, why it’s important, and how Share Council is proudly contributing to this global movement for a fairer and more sustainable future.
A B Corp, or Benefit Corporation, is a company that goes beyond profit alone. These businesses actively commit to creating a better world by balancing people, planet, and profit. The B Corp certification is an international recognition for organizations that place social and environmental responsibility at the heart of their mission. B Corps take accountability for their impact and strive for sustainable and social improvements.
The importance of B Corps cannot be overstated. In a world where inequality is growing, climate change is accelerating, and consumers are becoming increasingly conscious, B Corps offer an alternative. They demonstrate that businesses can be profitable while also being a positive force in society. It’s a movement that fundamentally changes how businesses operate: business as a force for good.
Earning a B Corp certification is no small feat. The process is designed to help businesses reflect on their impact and provides a robust benchmark for sustainability and social responsibility. Here’s how it works:
Step 1: Get to Know the B Impact Assessment (BIA)
The journey begins with completing the B Impact Assessment (BIA). This comprehensive questionnaire evaluates a company’s impact across five core areas:
Businesses need to score at least 80 out of 200 possible points to qualify for certification.
Step 2: Verification of Data
Once the BIA is completed, the assessment is reviewed by the B Lab team, the organization behind the B Corp certification. They analyze the responses and may request additional documentation to ensure accuracy.
Step 3: In-Depth Evaluation
During an interview with a B Lab specialist, the company’s operations are explored in greater depth. This is an opportunity to discuss the business in detail and identify areas for improvement. This phase often provides valuable insights into how the business can further enhance its impact.
Step 4: Adjustments and Implementation
Many companies discover during the certification process that there is room for improvement. This might involve creating new policies, reviewing suppliers, or implementing additional sustainability measures. These adjustments not only strengthen certification eligibility but also improve internal processes.
Step 5: Certification and Ongoing Engagement
After successful verification and any necessary adjustments, a company is officially certified as a B Corp. This milestone signifies that the business meets the highest standards of social and environmental performance, transparency, and accountability. Certification also includes an annual commitment to demonstrate progress and pay a fee based on the company’s revenue.
Why is it Important?
The B Corp certification is more than just a label. It’s a powerful signal that a business is committed to responsible practices and making a positive impact. For consumers, it’s a way to identify companies that are transparent, sustainable, and socially engaged. For employees and investors, it demonstrates a strong dedication to values that go beyond profit.
B Corps prove that businesses can positively impact people and the planet without compromising profitability. They inspire other organizations to take responsibility and show that economic growth can go hand in hand with social progress.
At Share Council, we are proud to be part of the B Corp community. Our mission is clear: to create a fairer society by redistributing capital and ownership. We believe businesses should not only do good for the world but also empower employees to become co-owners of the organizations they work for.
Our commitment to social and environmental responsibility is central to everything we do. From our platform that facilitates employee ownership to our Share Support Foundation, which creates impact in communities that need it most, we work toward a world where capital is not an end goal but a tool for everyone.
Want to learn more about how Share Council creates impact as a B Corp and how we help businesses take responsibility? Get in touch with us and join the movement. Together, we’re building a better future.