B Corp Certification

Ben Anderson Joyce Sou Jessica Friesen

The Path to B Corp Certification Webinar Series

1. Overview of B Lab & Vision

2. Why certify as a B Corporation

3. How to Get Started

Agenda  

B Lab is serving a global movement of People Using Business as a Force for Good

So that one day all companies compete to be Best for the World

And society enjoys a shared and durable prosperity.

The Global Movement

Canada

Evolution of Business

People are Demanding Better

Two starting points, same goal: Help all achieve higher standards of performance, accountability, and transparency.

Earn

‘Best for the World’

Achieve

B Corp Certification

Complete BIA, Publish benefit report, etc.

Mission Alignment Legal Amendment Measure What Matters

Use the B Impact Assessment

Poll:  

How interested are you in B Corp Certification? •  I’m doing it •  Interested, but something is standing in the way •  I’m curious, but need to be convinced •  I’m a skeptic •  N/A

B  Corpora0ons  

The B Corporation certification is to business what Fair Trade is to coffee and LEED is to green buildings.

Certified B Corporations are using business as a force for good. •  B Corps are certified by the independent nonprofit B Lab

•  B Corps meet higher standards of social and environmental

performance, transparency, and accountability

•  Over 1300 companies in 41 countries •  Makes a legal commitment to consider all stakeholders

What is a Certified B Corp?

Environment 100% green energy Workers 50% full time employee participate in external professional development Community 1% of sales donated to environmental NGOs

Governance •  Transparency •  Ownership Workers •  Job Growth •  Compensation & Benefits •  Employment Practices •  Work Environment •  Employee Ownership

Community •  Suppliers •  Local •  Diversity •  Charity / Volunteerism Environment •  Energy Use •  Facilities •  Supply Chain •  Manufacturing

+ Impact Business Models •  Direct Impact Products /

Services •  Targeting Underserved

Communities •  High Impact Supply Chain

Areas  of  Assessment  

B  Corp  Community  =  Good  Company  to  Keep  

“There’s a lot more authenticity in the process today and there’s a lot more strategy around long-term shareholder value. - Dave Stangis, VP Corporate Affairs and Social Responsibility, Campbell Soup Co.

B  Corps  in  the  Public  Market  

+  130  CAD  B  Corps  

50%

26%

6%

1%

5% 2%

4% 6%

Benchmark performance

Attract and Engage Talent

Save Money and Access Services

Partner with Peers

B Corp Certification helps companies:

Show Leadership

Differentiate from Pretenders

Generate Press

Attract Investors

Why are you interested in becoming a B Corp? •  Maintain Mission •  Differentiate from Pretenders •  Benchmark and Improve Performance •  Attract and Engage Talent •  Other

Poll:  

Maintain Mission Adopting the B Corp legal standards: •  Bakes the values of the company into its

legal DNA •  Gives protection and permission to

consider non-financial stakeholders (community, employees, suppliers, environment)

•  Ensures that mission can survive over

time

Differen0ate  from  Pretenders  

Jennifer McKaig

“The biggest surprise to me was realizing that our employees deeply cared about the things the B Impact Assessment measured.”

Benchmark  &  Improve  Performance  

“B Corps are 46% more likely to have satisfied and engaged employees than ordinary businesses.” – B Analytics

“Employees who are satisfied in their jobs because they believe in what they are doing have 16% better overall performance and 125% less burnout than their peers.” Harvard Business Review

“Almost two-thirds of millennials said they would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring.” Forbes

•  B Corp certification provides a platform to engage current staff and give employees more meaning in their work

AEract  &  Engage  Talent  

Partner  with  Peers:  The  B  Hive  

Collabora0on  

Champions Retreat 2015 Oct.13-15 in Portland, OR & Skamania Lodge

•  For-Profit Companies of Any Size

•  Any Industry / Geography

•  Customized assessment based on industry, size, geography

•  Any Legal Structure (sole proprietors, LLP’s, Corporations, etc.)*

•  Companies over 1 year old – special Pending B Corp program for start-ups**

Who Can Become a B Corp?

** For more on Pending B Corp, visit: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp

Meet Performance Requirement Complete the B Impact Assessment and earn a reviewed minimum score of 80 out of 200 points Meet Legal Requirement Determine the path for your corporate structure Make it Official Sign the Declaration of Interdependence, pay certification fees and and put a profile up on bcorporation.net To learn more, visit: www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp

How  Does  a  Company  Cer0fy?  

Step 1: Do the Assessment Timeline: 1.5 – 3 hours ❑  Create a B Impact Assessment Login ❑  Take a first pass of assessment ❑  Review initial score ❑  See how you stack up compared to 20,000 + that have taken the assessment

Step 1: Do the Assessment •  Visit www.bimpactassessment.net to get started

Step 1: Do the Assessment

Step 1: Do the Assessment •  Take a first pass – estimates are great at this stage

•  Take a first pass – estimates are great at this stage

Step 1: Do the Assessment

Step 1: Do the Assessment

•  Use ‘Revisit This’ and make sure to save your work

Step 1: Do the Assessment

Step 1: Do the Assessment

Step 2: Documentation & Review call ❑  Submit Assessment for Review (90% complete) ❑  Submit Documentation (as required) ❑  B Lab Staff will Schedule 90 minute call ❑  Review Assessment, refine score

Step 3: Follow up ❑  Update assessment (if necessary) ❑ Upload outstanding documentation ❑  Finalize score with B Lab staff

Step 3a: Fine Tune & Continuous Improvement ❑  If your score is below 80, use this opportunity to fine tune your plan to improve your score and deepen impacts

❑  Celebrate success! Each action you take is moving you down the path toward becoming a better company!

❑  Develop a timeline for certification & share with your team

Best Practice Guides

Step 3a: Fine Tune & Continuous Improvement

Step 3a: Fine Tune & Continuous Improvement

Adopting the B Corp legal standards: •  Bakes the values of the company

into its legal DNA •  Gives protection and permission to

consider non-financial stakeholders (community, employees, suppliers, environment)

•  Ensures that mission can survive

over time

Meet  Legal  Requirement  

•  A legal entity that has protection and permission to consider its impact on all

stakeholders, not just shareholders.

•  Most benefit corporations are required to create annual reports on their positive impact.

•  B Lab is an advocate behind the legislation

Benefit Corporation

Legal Requirements Term Sheet & Certification Fees ❑  Sign B Lab Term Sheet ▪  Certification term is 2-years ▪  Participate in on-site review if randomly selected (10% of Certified B Corps

randomly selected each year) ▪  Annual certification fees based on the tiered structure

Company Revenue Fee $0 - $499,999 $500 $500,000 - $1,999,999 $1,000 $2,000,000 - $4,999,999 $1,500 $5,000,000 - $9,999,999 $2,500 $10,000,000 - $19,999,999 $5,000 $20,000,000 - $49,999,999 $10,000 $50,000,000 - $99,999,999 $15,000 $100,000,000 - $999,999,999 $25,000 $1B+ $50,000+

Make it Official

Poll:  

What is your next step?

•  start of complete the B Impact Assessment • Meet the legal requirement •  Improve my score to be over 80 • Complete documentation • Engage my team internally

Join us.

Redefine success in business. Help create the new economy. Build a better business. Compete to be not only the best in the world, but the best for the world.

Resources

▪  B Corp Press: http://www.bcorporation.net/news-media

▪  How to become a B Corp: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp

▪  Legal Requirements: http://www.bcorporation.net/become-a-b-corp/why-become-a-b-corp/protect-your-mission

▪  FAQ for Investors & Directors: http://www.bcorporation.net/sites/all/themes/adaptivetheme/bcorp/pdfs/faqs_investors_and_directors4.pdf

▪  Pending B Corp Certification for Start Ups: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp/steps-start-ups

▪  B Impact Assessment: http://bimpactassessment.net/

▪  Case Studies: http://bimpactassessment.net/case-studies

▪  Certification Feeshttps://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp/make-it-official