What is Benefit Corporation (B-Corp)? The B-Corp trademark was founded by B-Lab, a non-profit network committed to transforming the global economy and making a positive impact on all communities, people and planets. Important values for B-Lab are transparency, responsibility and high standards of social and environmental performance. They encourage and inspire companies from all over the world to balance a company’s purpose and its profits. In this way we can transform the global economy from a system where little is profited to one where everyone benefits. In other words: the transformation of wealth and power for the few to more equality for all.
The aim of this trademark is to ensure that in addition to making a profit, companies are also engaged in positively influencing society and the environment. B-Corp therefore does not specifically look at the impact on society and the environment per product, but rather at the impact that a particular company makes as a whole.
Performance, Accountability & Transparency
In order to obtain a B-Corp certification, there are basically three criteria that you must meet as a company. The first criteria is Performance: delivering exceptional environmental and social performance. This means that a company must go through a so-called ‘B Impact Assessment’, whereby at least 80 of the maximum 200 points must be obtained. This assessment is divided into different themes, namely: environment, customers, employees, management and community.
The second criteria is Accountability: establishing that as a company you strive for positive values for the environment and people. In practical terms, this means that as a company you are really obliged to be aware of your decisions and their impact on people and the environment. This must be recorded in the articles of association so that this is always protected, even if the company changes owner, for example.
Finally, there is the Transparancy criteria: being transparent as a company about the company’s results. This means that companies must be transparent about their B Impact Report, including the score on the five themes as a result of the B Impact Assessment that has been made. This increases the credibility of your company and makes you appear more reliable.
After completing the B Impact Assessment and obtaining at least 80 points, you can apply for certification as a company. After thoroughly checking your evidence and conducting an interview by an independently assigned B-Lab analyst, he will verify the score according to the assessment, after which you are B-Corp certified as a company!
There are several ways to check whether a company meets all the requirements for a B-Corp certification. Firstly, an independent party, namely B-Lab, checks whether a company meets all the requirements as stated above. In addition, B-Corp certified companies must be transparent about their B Impact Report. In order to remain B-Corp certified, affiliated companies must successfully complete a B Impact Assessment every three years.
At Take It Slow we think it is important that the brands we offer are consciously engaged in making a positive impact on people and the environment. The brands EcoAlf, Veja, Mud Jeans and Organic Basics are B-Corp certified.