Bcorp Specialist: Elisabeth Auclair
For many, the economic slowdown triggered by COVID-19 is fuelling thoughts about the sustainability of more traditional business models, at the mercy of capitalism. Are they really resilient? Will they be able to respond to the socio-environmental issues we face? How can they benefit society?
These are not new questions for NPO B Lab, which leads a global movement to transform the role of business in favor of the common good. Its vision defends the integration of an inclusive, equitable and regenerative economy for the well-being of communities and the planet.
In 2006, the American organization founded the B Corp certification program, which is now recognized by organizations and the general public alike. More than 3,200 companies worldwide from over a hundred different industries are proudly B Corp certified.
This community brings together leaders who are redefining business success by merging social impact and profitability. B Corps are legally obliged to consider the impact of their decisions on their stakeholders. They meet the highest standards in terms of (1) Social and environmental performance, (2) Transparency and (3) Accountability.
COESIO itself has been a Bcorp-certified company for over three years. We have seen the widespread interest in this standard evolve, particularly among very small companies and start-ups. However, any company wishing to demonstrate its proactivity and commitment can submit an application to the organization. Companies as large as the multinational Danone (North America) and Patagonia are among the many that have found in BCORP a vector for continuous improvement focused on the creation of shared value, while remaining highly competitive in their markets.
In Quebec, the movement is really catching on, with more and more organizations taking an interest. According to the latest figures (B Lab Québec, 2019), the number of certified companies is almost three times higher than in 2017.
Here are a few reasons to choose a B Corp approach:
B Corp is one of the few certifications that assess a company's overall performance by looking at all its practices. Unlike product certifications, it focuses on internal management and governance structure.
B Lab ensures a rigorous verification process to validate the information disclosed. Companies that submit to the exercise are audited by an independent third party.
For these reasons, B Corp fundamentally distances itself from the risks of greenwashing.
B Lab's online tool, the B Impact Assessment, is an iterative self-assessment questionnaire based on five themes: employees, customers, community, governance and environment. This method, adapted to a company's context (industry, size), enables it to assess its social and environmental performance according to its own specific conditions and challenges.
This flexible platform provides a better understanding of best practices in terms of eco-responsibility, while also enabling sector-wide comparison.
With a view to continuous improvement, the certification process can be used as a management system in its own right. On the one hand, it enables us to take stock of the company's activities, and on the other, to plan the integration of eco-responsible practices.
The B Corp approach facilitates the definition of precise objectives, the development of action plans and the implementation of strategies, in the service of the common good.
Studies (Honeyman, 2019) demonstrate the positive effects that can result from obtaining certification, including:
Companies can face many obstacles when implementing such a process. For example, larger companies may find it difficult to mobilize employees and implement change, while smaller ones may have difficulty structuring and formalizing practices. In all cases, the process requires a significant deployment of resources.
At COESIO, we've been facilitating the integration of innovative eco-responsible practices in line with recognized sustainability standards for many years. Our structured, three-stage approach ensures efficient project management.
Ensuring an understanding of sustainability and corporate responsibility is key to addressing the implications of B Corp. The organization must be able to position itself in relation to these concepts, and to perceive its overall strengths and weaknesses.
At this stage, allocating resources, planning schedules and defining operating procedures are essential for optimal project management.
This key stage is based on a continuous monitoring structure. It is important to assess the project's progress, as well as the organization's anticipated performance in each of the thematic areas. Collaboration is key to identifying the right objectives and strategies to maximize the impact of activities.
A look at overall performance and future opportunities is essential. The eco-responsible management structure must be maintained, with the aim of constantly improving practices. An action plan can be adopted to reinforce the organization's social and environmental performance and aim for B-Corp certification.
(source: https://bcorporation.net/)
Certified B Corporations are companies that meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose. B Corps is accelerating a global culture shift to redefine business success and build a more inclusive, sustainable economy.
Society's toughest problems can't be solved by government and non-profit organizations alone. The B Corp community strives to reduce inequality, alleviate poverty levels, create a healthier environment, strengthen communities and create better jobs with dignity and purpose. By harnessing the power of business, B Corps uses profits and growth as a means to a greater end: a positive impact for their employees, communities and the environment.
B Corp forms a community of leaders and leads a global movement of people using business as a force for good. The values and aspirations of the B Corp community are enshrined in the B Corp Declaration of Interdependence.
We envision a global economy that uses business as a force for good.
This economy is made up of a new type of company - the B Corporation - which is goal-oriented and creates benefits for all stakeholders, not just shareholders.
As B-companies and leaders in this emerging economy, we believe..:
Written by :
Charles Duchesne, President,
