Whilst there is a growing community of investors who find B Corp status appealing it is still early days. Not only does charitable giving have benefits for society, a study reveals it could be good for business – with some businesses seeing a…, Technology in business moves so fast it can be difficult to keep up, with things only seen in science fiction 20 years ago now becoming…. But as well as demonstrating your commitment, you also get access to a whole wealth of information and new opportunities. As well as incredible conversations, last year’s retreat involved wild swimming, running, yoga and meditation – great ways to bond. © 2015 - 2020 PwC. B Corporation status can be achieved by receiving accreditation from B Lab (a non-profit organisation). B Corps make this legal change by updating their Articles of Association, reincorporating as benefit companies and benefit corporations, or making other structural changes. We spoke to Kate Sandle, Community Manager for B Corp UK, whose favourite interpretation of B Corp comes from Ghandi – “Be the change you wish to see in the world”. They use ESG specialists to show their backers that their portfolios reflect positive standards and best practice. Kate says the best opportunity for B Corps to meet, share ideas and best practice, and to learn from fellow innovators is at the annual UK retreat. Certified B Corporations. Here corporate responsibility isn't a nice-to-have but a business imperative. Manager in Corporate Finance M&A ICAEW Chartered Accountant, PwC United Kingdom. The B Impact Assessment evaluates how your company’s operations and business model impact your workers, community, environment, and customers. Subscribe to our monthly newsletter and follow us on social media. With sustainability still perceived as a ‘nice to have’ in some industries, a pandemic might not seem the time to focus on ESG.. What retail might look like in 2020, what this means for retailers and how to succeed in a changing environment. Join Our Team. After completing this assessment, B Lab then assesses and verifies that your score meets the certification standards. Our studies show that the UK consumer is becoming more cautious with their money. Simply Business received it’s B Corp accreditation in 2017, and we couldn't be prouder. So when it comes to funding, B Corp status could be the deal-clincher. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. B Corp certification requires thinking beyond profit in creating and delivering your organisational strategy. Countries. 74. Some companies are both Certified B … Having B Corp certification shows your potential new recruits this is fundamental and increases your likelihood of getting that great new hire. Certified B Companies are a new kind of business that balances purpose and profit. Becoming a B Corp can have obvious benefits; like a positive impact on brand equity and greater recruitment appeal, but there are also some less obvious ones. Tell us about your journey so far in the comments section below. B Corps are transparent about their operating practices and are held to a high standard of legal accountability. If you have any questions about how the legal requirement for B Corp Certification applies to companies in the UK, please contact us at hello@bcorporation.uk. Propercorn, Pukka, and Obrigado are just a few you might have heard of that have pledged to ensure that their environmental and social performance is equal in importance as the financial success of the company. Certification needs to renewed every three years and there is an annual fee, scaled according to revenue and starting at $500. The kinds of jobs you’ll love going to every day, where you can bring your whole self to work. 3,608. It can improve the saleability of an organisation too - Investors are also looking to bring diversity to their portfolios and there may be less due diligence required in a B Corp sale. At B Lab, we pride ourselves on creating an inclusive and flexible workplace that allows all staff to flourish. Toggle navigation Certified B Corporation. To buy from the B Corp community, head to the online B Corp Shop at Waitrose and Boots. As part of this process, you meet virtually with the B Lab team to submit any confidential documentation and to sense check your responses. Employees spend 10% of their work time in their local communities, adventuring outdoors, or doing service. The term B Corp stands for ‘B Corporation ’, and the people behind the B Corp certification are called B Lab. © Copyright 2020 Simply Business. Originally founded in the US, there are B Lab offices across Europe, South America, Australia and East Africa and each one is working to expand and support the community of … B Corp UK Nonprofit Organization Management London, London 11,591 followers Certified B Corporations are businesses that meet the highest standards of social and environmental performance. B Corporations sind Unternehmen, die dies erkennen und sich in ihren Statuten zu gesellschaftlichem Mehrwert und ökologischer Nachhaltigkeit bekennen. In the UK, the B Corp community stands at around 360 companies, and includes well-known brands such as The Guardian, innocent, Patagonia, The Body Shop, and organic food pioneers Abel & Cole. “B Corp Certification is to sustainable business what LEED certification is to green building or Fair Trade certification is to coffee,” B Lab states on its website. Once a firm crosses a certain performance threshold on these dimensions, it makes amendments to its corporate charter to incorporate the interests of all stakeholders int… Updated: Jun 12, 2019 Published: Apr 30, 2019 . LEARN MORE ABOUT B CORPS Unilever has also engaged strongly in the B Corp movement, owning 5 B Corp brands including possibly the most recognisable B Corp of all: Ben & Jerry's'. Is your organisation able and ready to have a change in mindset? Industries. B Corporation UK. There is a growing “impact” investor community focused on financing profit-led businesses with strong environmental, social and governance (ESG) values. Simply Business - Insurance for your business. We register company information and make it available to the public. The B Corp Certification is a third-party certification administered by the non-profit B Lab, based in part on a company's verified performance on the B Impact Assessment. If you have any questions about how the legal requirement for B Corp Certification applies to companies in the UK, please contact us at hello@bcorporation.uk. 2. Are manufacturers unlocking the full benefits of digital... We surveyed 162 PE firms and their investors to explore just how they were implementing and developing their responsible investment approach. The B Impact Assessment requires data from the last 12 months, so you’ll have to wait until you’re a year old for full status. Always take professional advice. linktr.ee/BCorpUK. This is a community of leaders, driving of a global movement of people using businesses as a force for good. All rights reserved. Brands are having to fight harder to win. Danone is a standout example, working to become the world’s largest B Corp, with 11 certified subsidiaries (including Danone Dairy UK). We’ve broken it down so you can find out all about a new breed of companies working for more than profit – Simply Business included. B Corporation certification (assessed by the not-for-profit B Lab) is given to for-profit organisations who achieve at least a minimum score against a set of social and environmental standards. Die Benefit Corporation ist ein Rechtsstatus, der durch bundesstaatliches Recht in den USA verliehen wird. Benefit corporations are legally empowered to pursue positive stakeholder impact alongside profit. So what does that mean in practice? The benefit corporation is a legal structure for a business, like an LLC or a corporation. Certified B Corporations are legally required to consider the impact of their decisions on all their stakeholders. If you are looking for investment in the future it is worth considering now who you are targeting and their likely response to your B Corp status. We incorporate and dissolve limited companies. The B in B Corp is open to interpretation. Private equity houses too are coming under scrutiny. Complete the B Impact Assessment. February is B Corp month, but what does that mean, and what exactly is a B Corp? It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. .css-1i7ddjg{color:#262626;-webkit-text-decoration:none;text-decoration:none;cursor:pointer;color:#007478;-webkit-text-decoration:underline;text-decoration:underline;}.css-1i7ddjg:hover{color:#007478;-webkit-text-decoration:underline;text-decoration:underline;}Read our full disclaimer. It’s early days but there is evidence certification drives performance. Recognized as one of Fast Company’s 2020 Most Innovative Companies, our team at B Lab is innovative and enthusiastic about building an inclusive and sustainable economy.Our teams are all working remotely through the end of June 2021. For the latest news and events about the community of Certified B Corporations For companies looking to certify as a B Corp in the UK, we have a step by step guide for amending your constitutional documents to include the B Corp legal language (the “Legal Test”). “Simply Business was a great company to work with – and for such a large organisation we expected the process to take longer than 3 months.” said Kate. We find leverage and spend o… “It just shows that if you are already measuring your impact on your people and the planet, then the certification process doesn’t have to take that long! What does B Corp mean? They’re a not-for-profit organisation headquartered in the USA with offices all over the world. */ We live in a world where business needs to be part of the solution to our greatest challenges. Transparent, third-party verified reviews so you can see how their real … The Devon-based company scored 124.6 out of 200 in its first B Corp assessment, becoming the second highest-scoring food business overall in the UK … B Corp is to business what Fair Trade is to coffee… They are businesses that give as much consideration to their social and environmental impact as they do to their financial returns. This includes their employees and their customers, as well as society at large and the environment – both locally and globally. Whether it’s giving back to the community through charity fundraising, or our dedicated team of people working out how we can minimise our impact on the environment – in ways both big and small – we’re driven to find new ways to support our workers, help others, and help preserve our world. For companies looking to certify as a B Corp in the UK, we have a step by step guide for amending your constitutional documents to include the B Corp legal language (the “ Legal Test ”). B Corp certification guarantees that a business is measuring its environmental and social impact and B Corps commit to transparency by publishing their score online. Die Benefit Corporation (B-corporation) ist eine seit 2010 in vielen Bundesstaaten der USA eingeführte Unternehmensform, mit der Gemeinwohl und privatwirtschaftlicher Nutzen besser vereinbar gemacht werden sollen. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. Certification needs to be renewed every three years and there is an annual fee, which scales with revenue and starts at £500. As people who are part of an organization that seeks to create a shared and durable prosperity we are... INCLUSIVE 1. 1. Our Workforce of the future study highlights four work scenarios, including the “Green World”. Well, B Corp certified companies strive not only for profits, but but for the betterment of the world around them. Sustainability is now mainstream. Great! We are transparent, quick to listen, and informed to act. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Unifying Goal. In the UK alone there are now 160 Certified B Corporations. Home: B Work: the place to find jobs at companies that care about the planet, people, as well as profit. An online community for certified B Corporations in the UK, and those interested in the B Corp movement. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. In 2012, Corporate Knights decided to … The B Corporation or “B Corp” is a certification issued by the organization B Lab Company to sustainable for-profit businesses that meet rigorous standards of social and environmental performance, accountability, and transparency. At the time of writing there are 2,778 B Corp organisations worldwide, in 60 countries. For some, B Corp status could be seen as suppressing agility and restricting the ability to focus on profit. They exist to help companies be better – better for the world, not just for them and their shareholders. B Corps are put in touch with one another and are able to share knowledge and build on each others’ successes. B Corp status is a long term commitment and needs to be resourced accordingly with the appropriate checks and measures in place. Get the latest BBC News: breaking news, features, analysis and debate plus audio and video content from England, Scotland, Wales and Northern Ireland. It is to businesses what Fair Trade is to coffee. Spread the word. For companies looking to certify as a B Corp in the UK, we have a step by step guide for amending your constitutional documents to include the B Corp legal language (the “Legal Test”). The time taken to achieve accreditation varies with each organisation and its complexity, but the process typically takes four to six months. The B Corp Certification is a third-party certification administered by the non-profit B Lab, based in part on a company's verified performance on the B Impact Assessment. B Corporation Australia & New Zealand There are three steps to the process: Any for-profit business can become a B Corp, no matter its size, so long as it’s been operating for at least 12 months. B Corps are businesses that meet the highest standards of social and environmental performance. The B Corp values can be found at all levels of operation. The B Corp UK video channel - featuring videos about the movement and the growing community of B Corporations in the UK. 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. As B Corporations will need to take decisions not necessarily around profit maximisation, investors are rightly cautious that such a certification could inhibit growth and flexibility (a commonly cited perceived tradeoff is cost base vs ethical supply chain). The Manufacturer’s Annual Manufacturing Report is the barometer for the UK manufacturing industry. For a conversation around B Corps, contact us. The benefit corporation is a legal structure for a business, like an LLC or a corporation. Looking for the latest news and features to help you stay ahead? These factors and an increasing number of B Corp acquisitions mean more and more business will look favourably on B Corp certification. If you have any questions about how the legal requirement for B Corp Certification applies to companies in the UK, please contact us at hello@bcorporation.uk. Sign up for our monthly newsletter and get the inside track on the issues that matter to you. B Corp certification guarantees that a business is measuring its environmental and social impact and B Corps commit to transparency by publishing their score online. by Poppy Mortiboys-Harrison. In einem rigorosen Testverfahren lassen sie Unternehmensführung, Mitarbeiterrechte, sowie Auswirkungen auf Umwelt, Gesellschaft und Kund*innen messen. Certified B Corporations are a new kind of business that balance purpose and profit. B Corps have been around in the US since 2007, with brands like Ben & Jerry's and Patagonia achieving certification. All Rights Reserved. The B in B Corp is open to interpretation. Status. Browse the B Corp community using the tool below or click here to find B Corps near you. Are you considering becoming a B Corp? How to become a UK B Corp. B Corporations – B Corps for short – are taking the business world by storm. She also likes that the B can mean “better” – so “better corporation” – which is what companies with B Corp status are aiming to be. We give and seek continuous feedback and use every opportunity to learn. Companies. It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. February is B Corp month; a celebration for all the certified UK B Corps that are doing things differently. You’ll 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 don’t 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 £20,000 for Whizz Kidz as they trek the Alps. Certification requires a score of at least 80 (out of 200) against 5 areas of impact: Governance, Community, Workers, Environment and Customers. For all it’s more and more important investments are diverse, inclusive and accountable. Our engagement survey powers the Sunday Times Best Companies to Work For list. SUSTAINABLE 1. About B Corps; Certification; B Economy; For B Corps; B Corp Directory; B Corp Way; SDG Action Manager; COVID-19; A Global Community of Leaders. At the time of writing there are 2,778 B Corp organisations worldwide, in 60 countries. B Corp Certification is the only certification that measures a company’s entire social and environmental performance. An online community for certified B Corporations in the UK, and those interested in the B Corp movement. Inc. called B Corp status “the highest standard for socially responsible businesses”. Here's all you need to know about this exciting movement, and how to turn your business into a B Corp . Please see www.pwc.com/structure for further details. Certified B Corporations are social enterprises verified by B Lab, a nonprofit organization. B All That You Can B! One thing is for certain; in 2018 the volume of discussion on B Corps increased significantly and investors and management teams will need to think through where they stand on B Corps. 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 & … It can drive performance - in a B Lab & Ella’s Kitchen survey UK B Corps reported an average growth rate significantly higher than the national average. How do B Corps work? They make decisions that make a positive impact across their workers, customers, suppliers, community, and the environment. Legally, you are then required to make decisions which consider all these factors, not exclusively profit maximisation. Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG. We communicate frequently, collaborate thoughtfully, learn from, challenge, and celebrate one another and our work. Certification requires a score of at least 80 (out of 200) against 5 areas of impact: Governance, Community, Workers, Environment and Customers. Keep up to date with Simply Business. B Lab promotes mission-aligned legal structures like the benefit corporation in the USA, which joins the interests of business with those of society. In a B Lab survey, UK B Corps reported average revenue growth of 14% year-on-year since launch in 2015. Many clients ask us about becoming a B Corp and whether it’s right for them. Find this article useful? In order to become B Corp certified, you have to be assessed by B Lab and meet the required standards. 47 talking about this. Danone Waters UK and Ireland, whose brands locally include evian and Volvic, has announced its certification as a B Corporation. In the Articles of Association you must include a commitment "to promote the success of the company for the benefit of its members and, through its business and operations, to have a material positive impact on society and the environment, taken as a whole". If your consumers, employees or investors are suggesting sustainability is informing their choices, make yours accordingly. The initial step is to complete an on-line assessment (B Impact Assessment). 150. 4. This is a community of leaders, driving a global movement of … Certifying as a B Corporation goes beyond product- or service-level certification. Benefit corporations are legally empowered to pursue positive stakeholder impact alongside profit. Best Companies are specialists in workplace engagement & employee engagement. 30 of the UK’s B Corps are management consulting firms – with smaller and boutiques being the only firms to take up the scheme so far. But for others it is an opportunity to achieve competitive advantage, as well as benefiting the wider world. Companies have to be recertified every two years, and if they fail to meet the set criteria, they lose their B Corp status. But, in the meantime, you can demonstrate your commitment to being a socially responsible business and engage as a “soon-to-B” peer with a community of more than 1,000 Certified B Corps. It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. Not only that, but the criteria are dynamic, making sure that B Corps are always moving with the times and are on the cutting edge of what “good” looks like in the current world. 18 talking about this. Certified B Corps are a new kind of business that balances purpose and profit. Workers and consumers demand that organisations do right by them and the wider world. Some companies are both Certified B Corporations and benefit corporations, and the benefit corporation … Certified B Corporations are a new kind of business that balances purpose and profit. A C corporation may change to a B corporation merely by stating in its approved corporate bylaws that it is a benefit corporation; however in certain jurisdictions (especially Delaware), the terms "public benefit corporation" or "PBC" are also required to be in the legal name of B corporations. For many, positive sustainability credentials gives your brand a competitive edge and keeps you on top of their mental shopping list. You can read more about our efforts over at our social impact page. A commitment to the environment and society is increasingly on everyone’s agenda. Similar legal forms have also been passed in Italy and Colombia and are being proposed in several other countries, including the UK. We also hear a lot of confusion about the difference between a “B Corp” and a “benefit corporation.”. The accreditation recognises our strong track record of having a positive impact on people, society and the environment – and our commitment to do more in future. 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. B Lab certifies companies based on how they create value for non-shareholding stakeholders, such as their employees, the local community, and the environment. It demonstrates to the world around you – your stakeholders, your employees, your customers, and everyone else – that you’re committed to being a force for good in the world. We value and embrace diversity of identities, experiences, thoughts, needs, and approaches. At the same time, Danone’s UK Essential Dairy & Plant-based business (EDP) – whose brands include Actimel and Activia – … 6th Floor.css-v27edy{display:block;height:10px;}99 Gresham StreetLondonEC2V 7NG, Sol House29 St Katherine's StreetNorthamptonNN1 2QZ. 3. The B Corp Certification is a third-party certification administered by the non-profit B Lab, based in part on a company's verified performance on the B Impact Assessment. Browse the B Corp community using the tool below or click here to find B Corps near you. Environmental, Social and Governance (ESG) is now a key element in company statements. The pace of change is accelerating and we are seeing more and more consumer goods organisations take the B Corp plunge. Many investors are also positively screening for B Corps to check a potential investment fits with their organisations values. With February as B Corp month, it gives B Corps the opportunity to talk about what makes them a B Corp, and the incredible and innovative policies and practices that they have, but often don’t get to shout about. The benefit corporation is a legal structure for a business, like an LLC or a corporation. If your business is brand new but you want to demonstrate your commitment to society and the environment, you can earn B Corp Pending status. We spoke to Kate Sandle, Community Manager for B Corp UK, whose favourite interpretation of B Corp comes from Ghandi – “Be the change you wish to see in the world”. What do Ben and Jerry’s, Patagonia, Bulb, Propercorn, and Abel & Cole all have in common? “We are pleased to have such a committed business join our community, and they're already great ambassadors of the B Corp movement.”. We create this content for general information purposes and it should not be taken as advice. 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To our monthly newsletter and get the inside track on the issues matter!