The Future Is This Way: A Conversation with B Lab About B Corp

As we dive into B Corp Month, raise awareness and celebrate businesses that prioritise social and environmental impact alongside profits. We want to share how we spread the message of B Corp during Spring Fair 2024.

Recently, our founder, Louisa Mordaunt, was invited to a B Corp panel discussion, alongside Daniel Fagan, Supply Chain Director of Talking Tables, and Hana Kidy, Product Coordinator at B Lab UK. The session aimed to clarify the concept of B Corp certification and explore its transformative power for businesses worldwide. From both a service and product-led point of view.

Overall, the discussion highlights the positive impact of B Corp certification on businesses, employees, communities, and consumers, as well as the collective effort to drive meaningful change towards a more sustainable and ethical business environment.

What is B Corp?

But first a bit about the B Corp history:

B Corp, or Certified B Corporation, was created by the non-profit organisation B Lab. B Lab was founded in 2006 by Jay Coen Gilbert, Bart Houlahan, and Andrew Kassoy. The concept of B Corp arose from the founders’ desire to redefine success in business by expanding corporate responsibilities to include social and environmental performance, accountability, and transparency.

They aimed to create a new type of business that meets rigorous standards of social and environmental performance, legal accountability, and public transparency to balance profit and purpose. The B Corp certification process evaluates a company’s impact on its workers, customers, community, and environment. It assesses various aspects of business operations, including governance, worker benefits, environmental practices, and community engagement.

The first B Corp certifications were awarded in 2007 (Patagonia), and since then, the movement has grown significantly, with thousands of companies from around the world becoming certified B Corporations. (over 6000)

At its core, the B Corp movement represents a commitment to fostering positive change in our society and environment. B Corps, or Certified B Corporations, are companies dedicated to meeting rigorous standards of social and environmental performance, accountability, and transparency. They are driven by the belief that businesses should be a force for good, aiming not only to maximise profits but also to create a meaningful impact on people and the planet.

Why Become a B Corp?

The benefits of B Corp certification extend far beyond corporate responsibility. Studies have shown that B Corps outperform traditional businesses in several key metrics, including growth, employee retention, and gender pay equality. By aligning with B Corp principles, companies can strengthen their competitive advantage while contributing to a more sustainable and equitable future for all.

“B Corps have exceeded expectations, with an average 26% growth projection for their future.”
Hana Kidy

“What’s really impressive is that, on average in the UK, the gender pay gap is 15%, but for a B Corp it’s only 4%.” Hana Kidy

The Journey to B Corp Certification:

Achieving B Corp certification is no small feat. It involves undergoing a rigorous assessment process, encompassing various aspects of business operations, from governance to environmental stewardship. Louisa and Daniel shared their insightful experiences, highlighting the challenges and rewards of embarking on this transformative journey.

“Essentially, becoming a B Corp is a pretty difficult process. This is a legal change, so it means you are going to be upheld to the standards you commit to.” Louisa Mordaunt

”For us at I Love My Job B Corp it was the next logical step. As a positive impact recruitment agency, it just made sense. Even more so when recruitment has a terrible reputation. B Corp gave us a seal of approval” Louisa Mordaunt

Impact Areas: Community Engagement and Worker Benefits:

Central to the B Corp ethos is the commitment to making a positive impact on communities and employees. At I Love My Job, we promote flexible working arrangements to ensure a healthy work-life balance. Similarly, Talking Tables prioritises sustainable practices across its global supply chain, fostering local community development and worker well-being.

“We’re very conscious of that and how we can do the best for the planet.” Daniel Fagan

”It’s like everyone’s an ambassador. We’ve helped a lot of our clients go through it. It’s that collective thought and movement that has been a huge benefit.” Daniel Fagan

”When consumers look into it and they see how rigorous it is and how we are holding companies to a higher standard, that is what makes them think, okay, yeah, these guys aren’t messing about” Louisa Mordaunt

Tips for Starting the B Corp Journey:

For businesses considering B Corp certification, Louisa and Daniel offered valuable advice. They emphasised the importance of honesty, collaboration, and perseverance throughout the assessment process. Starting the journey with a genuine commitment to positive change is key to navigating the complexities of certification successfully.

“It took us three years. It was quite a journey, you know, going through all the assessments and making sure every aspect of our operations aligned with the B Corp standards.” Daniel Fagan

”Your company have to be committed, It is long but it’s for a good reason, this time will help you to build a stronger structure for your business” Louisa Mordaunt

“it’s free to do the B Impact Assessment. You know, it’s about four to six hours of your time, but you can see where your gaps are straight away, you know, where you’re good at.” Louisa Mordaunt

Conclusion:

As the B Corp movement continues to gain momentum worldwide, more businesses are recognising the value of aligning profit with purpose. By becoming B Corps, companies not only enhance their bottom line but also contribute to building a more resilient and inclusive economy. Louisa, Daniel, and Hana’s insights underscore the transformative potential of the B Corp movement, inspiring others to join the journey towards a brighter future for all.

Join the Movement:

Are you ready to embrace the B Corp journey? Start with the BIA and visit B Lab’s website to learn more about certification and take the first step towards making a meaningful impact through your business.

Want to read more about I Love My Job’s B Corp journey? Click here