Share Council is a proud B-Corp, which stands for 'Benefit Corporation'. These enterprises are profit-oriented but also adhere to the highest standards of social and ecological impact. In a time when we are inundated with societal challenges, companies with this certification are invaluable. Share Council is delighted to have received this recognition. But what does it actually mean to be a B-Corp? And how do we contribute our part? You'll discover all of that in this article!
What is a B-Corp?
A B-Corp certification is reserved for companies that maintain the highest standards of social and ecological responsibility. This includes businesses committed to a better and more sustainable future, with the certification not just assessing one aspect of the business but taking the entire process into account. This demonstrates that the company has a positive impact on all fronts.
Criteria to obtain the B-Corp certification:
To obtain the B-Corp certification, three aspects of business operations are evaluated:
1) High standards for social and ecological impact: Measured through the 'B Impact Assessment,' an online test assessing the company's influence on five sub-themes: operations, employees, community, environment, and customers. To meet the criteria, the company must score a minimum of 80 points on the test.
2) Legal responsibility: A corporate governance structure in which all stakeholders of the company benefit, not just the shareholders. This legally establishes that the company will continue to adhere to B-Corp values, even in case of a change in ownership. Additionally, it contributes to bridging the gap between the rich and the poor.
3) Transparency: By publishing relevant business information online on the B Lab website, business operations can be publicly assessed against the values of the B-Corp certification. This ensures social scrutiny of the certification.
How does Share Council contribute to a positive future?
At Share Council, we aim to create a better future for our employees and the stakeholders we serve. The B-Corp certification process has evaluated the impact of our company on employees, customers, suppliers, the community, and the environment. Our commitment to well-being, sustainability, and social responsibility has positioned us among the world's most responsible companies.
As the capital gap continues to grow, we contribute to capital redistribution through employee participation. This is a step in the right direction, but we are far from our ultimate goal: making all 137 million SME employees in Europe co-owners!