B-Corps and sustainability specialist
In this video, Rebecca provides an overview of what happens once a company has achieved B Corp status, which companies are in the B Corp community and how the B Corp certification stacks up to governmental and legal frameworks.
In this video, Rebecca provides an overview of what happens once a company has achieved B Corp status, which companies are in the B Corp community and how the B Corp certification stacks up to governmental and legal frameworks.
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10 mins 48 secs
In the third video, Rebecca outlines the obligations that come with becoming a B Corp. This includes: the ongoing costs i.e. the annual certification fee; the legal requirements i.e. providing legal protection to directors. Also explained are the benefits that the B Corp community provides. For example forming partnerships with other sustainable goal-orientated companies.
Key learning objectives:
Provide an overview of what happens once you’ve achieved B Corp status
Identify companies are in the B Corp community
Explain how the B Corp certification stacks up to governmental and legal frameworks
This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.
When a company is certified, they will be a B Corp for three years, after which they’ll need to re-apply. A year is given to embed the B Corp principles into a company’s legal framework. Access to the B Hive network is granted, where you can connect with other members of the B Corp community online or meet in person at events, building client and seller relationships with organisations you can trust.
Firstly, there is an ongoing cost to being a B Corp. You’ll be required to pay your annual certification fee, which will depend on your annual sales figures. For example, if your annual sales are up to £149,000, you’ll pay a fee of £500.
The second key aspect is the legal requirements. Certified B Corps are legally required to consider the impact of their decisions on all their stakeholders. B Corps make this legal change by updating their Articles of Association, reincorporating as benefit companies and benefit corporations, or making other structural changes.
The B Corp legal framework helps companies protect missions through capital raises and leadership changes. It also gives entrepreneurs and directors more flexibility when evaluating potential sale and liquidity options. They do not have to make decisions that primarily maximise shareholder profits. The B corp legal framework allows companies to be released from the fear of being sued by shareholders for failing to maximise their profits.
The B Corp community is populated by over 3,700 companies. B Corps span 150 industries and 74 countries with a combined revenue of $80bn. B Corp companies include:
Yes. Brewdog teamed up with Tony’s Chocolonely to bring the chocolatiers bars to life in the form of a white chocolate and raspberry IPA. Both Waitrose and Ocado have a dedicated “aisle” where they promote B Corp brands and products. Three B Corps based in New England - Pete and Gerry’s Organic Eggs, Cabot Creamery, and Stonyfield Organic - teamed up for an in-store marketing campaign that encouraged customers to consider the power of their everyday purchases, using the phrase ‘It’s not a dollar. It’s a ballot. Vote everyday for your values’.
The SAC put standardised sustainability measurements in the hands of key decision makers in the apparel and footwear value chain, incentivising them to make decisions that reduce environmental impact and increase social justice across the entire industry. SAC’s members are B Corps including Patagonia, Eileen Fisher and Allbirds, along with non-B Corps such as Nike, ASOS and H&M Group.
This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.
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