What is a B Corporation?
B Corp is a certification scheme – similar to Fairtrade coffee or organic milk – but it looks at the whole company and everything it does, rather than just one product or service.
The certification process is run by the independent non-profit, B Lab.
The first stage of certification is a detailed assessment which examines how the company operates from the perspective of 5 different stakeholder groups: customers, employees, suppliers, local communities, and the natural environment itself. Companies are scored in each area, and have to achieve an overall score of 80/200 points to qualify for certification.
For transparency, the results of this certification process are made fully available online. You can take a look at the summary of EQ’s impact report here, or visit our public profile on the B Corp website for further details.
Becoming a B Corp also involves a legal change to the company’s governing documents. The purpose of this is to protect the mission of B Corps: promoting the success of the business for the benefit of its shareholders while also having a material positive impact on society and the environment. You can read more about the significance of the legal test here.
Who else is doing this?
Today, there are over 2,100 Certified B Corps around the globe, including Ben & Jerry’s, Patagonia, and Triodos Bank. We are proud to join them in redefining success in business, so that one day everyone uses business as a force for good.
For more information, visit the B Corp UK website: www.bcorporation.uk
The 2017 Best for the World Honorees
EQ has been named as a ‘best for customers’ honoree in the annual B Corp top 10% list. We make every effort to align our interests with those of our clients and for this to be recognised is a great tribute. Click here to see the full 2017 list.