10 Facts About B Corporations

B Corp is the Fair Trade of business; balancing profit and purpose and being the change we seek in the world. Here at Just R, we are proud to join a team of certified B Corporations to drive change, innovation and leave a positive impact.

10 Facts Bcorp Blog

What is B Corp?

Certified B Corporations are a new kind of business that balances purpose and profit. The title sets companies apart as B Corps, unifying them in one goal: to meet the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to use the power of marketing to solve social and environmental problems. In other words, B Corps aim to use their business as a force of good!

Let’s look at some exciting facts about B Corp and what it takes to become certified…

 

1. The ‘B’ in B Corp stands for “beneficial”: for customers, stakeholders and employees, suppliers and sub-suppliers, nature and the environment

 

2. The B Corp community is committed to working towards reduced inequality, lower levels of poverty, a healthier environment, stronger communities and the creation of high quality jobs with dignity and purpose. The commitment to this is signing the ‘Declaration of Interdepence’ which all certified B Corps must do

 

3. B Corp began in 2006, with three friends leaving their careers in business and finance committed to making a positive impact on the world. Initially they were planning to start their own company, but instead opted to create a movement that would assist in uplifting businesses around the world who were trying to use their business for a higher purpose than simply wealth generation

 

4. The very first 82 B Corps were certified in 2007, and today there are are over 3,500 certified B Corps in 150 industries, covering 77 countries

 

5. B Corps range in size from the very small to the enormous $20 billion Danone (⅓ of its subsidiaries are now certified B Corps and their goal is for the entire company to become certified before 2030!)

 

6. A key requirement of B Corp certification is the obligation on the company to amend their articles of association, legally committing to use their business as a force for good. Considering ‘stakeholder interests’ – including your shareholders, employees, suppliers, society and the environment

 

7. The B Impact Score. B Corps are measured through a points system, with marks given out of a total of 200. This is determined by industry, size and the geography of the business taking the assessment. The pass mark is 80 points (they are incredibly hard to get) and the median score for initial assessment is 50.9, so Just R were over the moon to score 95.6 on their initial assessment!

 

8. The B Impact assessment comprehensively covers the impact of a business on all of its stakeholders, including its workers, suppliers, community, and the environment

 

9. You can search for B Corps near you using the B Corp directory

 

10. There is currently one accredited B Corp registered in Cumbria, and that company is Just R! 

 

Why is it important for us to be B Corp certified

B Corp is all about building responsible businesses, structured to leave the world a better place than we find it, and that is just what Just R is all about. B Corp is aligned with our core value of being a Role Model, striving to set standards and to educate the world around us, so we are very proud to be part of an amazing corporation with one unifying goal!