B-Corp. You might have heard this term floating around the corporate world, and you may be wondering what all the buzz is about. In a nutshell, B Corps, or Benefit Corporations, are businesses that have committed to making a positive impact not only on their bottom line but also on the world around them. It’s like having a badge that says, “We’re in it for good – for our employees, our communities, and our planet.” And here at Dots.eco, we’re proud to wear that badge.
Our journey to becoming a certified B Corp was long… It involved a year-long examination of every nook and cranny of our operations, from our financials and our internal structure, to our environmental impact and our community involvement. We had meetings, answered questions, and sent documents back and forth. It was a thorough process, and you might wonder if it’s worth all the effort. Let us assure you, it absolutely is.
Preparing for the B Corp Assessment
The first tip we’d like to share is to get ready for a comprehensive analysis of your company. The B Corp assessment covers various aspects, including finance, governance, workers, environment, customers, and community. The sooner you start organizing your documents, recording sustainability data and indicators, and storing everything in one place, the smoother the process will be. It’s a long journey, mainly because of the extensive documentation required, so be prepared.
De-constructing B Corp
Now, let’s deconstruct the B Corp assessment a bit further. There are several components that can earn you points, and they vary in terms of their point allocation. Some questions related to each major aspect of your company (customers, environment, governance, workers, and community) will contribute to different point values—some out of 50 points, some out of 100 points, and some out of 20. There’s no one-size-fits-all approach here. The key takeaway is that the more points you score, the better your chances of certification. Right now, companies need at least 80 points to reach the certification.
It’s also important to note that while Impact Business Models (IBMs) can be valuable for gaining extra points, they are not necessary to earn the B Corp certification. If your company scores more than 80 points overall, you can qualify for the certification. IBMs become particularly beneficial if your company has a specific focus on environmental or social sustainability, as they provide additional points toward your total score.
Scoring on Impact Business Models (IBMs)
Now, let’s dive into the nitty-gritty of B Corp certification. Most companies usually score on just one IBM, and it’s not easy to score on more. But that doesn’t mean you should underestimate the process.
Each company can only apply for one IBM in each of the five areas of the B Impact assessment. So, if you believe your company fits into multiple categories, consider which one aligns the most with your mission because, in the end, the analyst may only approve one. For us, “Designed to Give” is our chosen IBM, emphasizing “charitable” giving as our primary mode of impact.
It Takes a Village
Another crucial tip is to recognize that achieving the B Corp certification is a team effort. Don’t expect one person to shoulder the entire burden; it’s simply impossible. With the multitude of documents, time, and energy required, it’s essential to select a project manager and a team from various departments to assist.
Additionally, keep in mind that the size of your company can influence the duration of the process. Larger companies typically have more extensive operations, which means more documentation and scrutiny. So, be prepared for the long haul.
To wrap things up, B Corp certification is a badge of honor for companies committed to making a positive impact. It’s proof that a company cares about doing good both inside and outside its walls. At Dots.eco, we are real believers in a brighter, more sustainable future, one dot at a time. We are driven by the restoration of ecosystems, the positive impact on local communities, and the promotion of green and blue economies.
Our journey to becoming a certified B Corp was challenging, but it was worth every ounce of effort. It’s not just about getting a certification; it’s about demonstrating our dedication to a better world. We encourage every business, big or small, to embark on this journey and be a part of the global movement toward responsible and sustainable business practices. After all, the world needs more dots of positive change, and together, we can make them connect to a brighter future.