• Improving Lives
  • Chaucer
  • Sustainability
  • B Corp
  • CSR

27 Apr, 2021

Why your business should be looking at B Corp Certification

Certified B Corporations are businesses that successfully - and continuously - balance their social and environmental impact against profits, helping to foster a more sustainable and inclusive economy in the process.

To obtain a B Corp badge, every part of your business is rigorously assessed. The process is so robust it requires that you revisit your entire policy database, your supply chain, and how you interact with your workers and community. Yet more and more businesses are deciding to make the change, accelerating a global cultural shift to redefine what success looks like.

Why are companies joining the growing ‘B movement’?

Martin Wassell Group MD comments ‘For Chaucer, the reason is simple. We believe it’s the right thing to do to ensure we make a positive impact on our employees, communities and the planet. It’s the least we can do to turn rhetoric into action, and hope that others come along for the ride too until using business as a force for good is the norm’

What does the B stand for?

The B Corp Certification is linked to an entity known as B Lab (Benefit Lab) - a non-profit organization that was founded in 2006 in Berwyn, Pennsylvania. The Lab created, and awards, the B corporation certification for for-profit organizations. These organizations must meet a minimum of 80 out of 120 criteria that collectively demonstrate that they are helping address some of society’s greatest challenges – doing business purposefully to deliver benefit for others.

A Global Community

Once an organization meets or exceeds this minimum, they earn their ‘badge’ and become B Corp Certified. The global community of B Corps to date includes over 3,900 B Corps in 70 countries and 150 industries. With the help of B Lab’s global network of standards, policies and tools, these companies manage their points using a ‘B Impact Assessment’ and ‘SDG Action Manager’. The majority of B Corps are US based and are small businesses but the UK now has the fastest growing B Corp community globally.

The B Corp movement in the UK:

Over the next few months, Chaucer will discuss the challenges and benefits in a series of blogs as we tackle the certification process. 

In the first of the series, Jo Mihajlovic, Head of CSR calls out our top 5 reasons to obtain B Corp certification.

1. We believe it’s the right thing to do

We want our business to be doing the right thing whilst redefining the way people see success in the business world. B Corp certification provides a great advert to attract & retain the people who share our values of being a better business for the future. It provides the right structure and framework for us to do this whilst ensuring honesty and integrity. The B Impact Assessment questionnaire ensures you consider the impact of your operation on your workers, customers, suppliers, community, and the environment.

2. It’s great for our business

Sustainability is a growing buzz word in most industries and consulting is no exception. Millennials are starting to demand change in company behaviour by voting with their wallets and where they choose to work, so to be successful in the future and secure the best talent we must be leading the way in this area.

3. We can be part of the value solution for our clients

Clients are increasingly looking for companies who can demonstrate the positive impact that they have on the planet. And Chaucer are in a fortunate position where we can also add value by helping our clients develop a sustainability offering as part of our consulting solutions, weaving it into the work we do, adding extra value and encouraging other businesses to be a force for good.

4. It opens doors

Becoming a B Corp lets you join the ranks of other companies doing great things. There is a mutual respect and recognition in the B Corp community, and B Corps like to do business with other B Corps. Companies report an uplift in growth after certifying. In a recent B Lab survey, UK B Corps reported a growth rate significantly higher than the national average.

5. It encourages continuous improvement

B Corp helps organisations to ensure long term competitiveness and success. The certification lasts 3 years, so as soon as you certify, there is an opportunity to see how you can unlock further points and become an even more socially and environmentally responsible business.

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