Anyone
who cares about corporate social responsibility should be excited about what
the B Corps movement is doing to change the game.
B
Corp is a certification given to businesses that meet exacting standards of
social and environmental performance, accountability, and transparency. The
nonprofit B Lab describes B Corps as being to business what Fair Trade
certification is to coffee or USDA Organic certification is to milk.
Today,
more than 1,000 companies in 33 countries and over 60 industries are certified
B Corps, and the numbers are steadily growing. (Recently, the B Corps community
added one more to its ranks: Causecast, the corporate volunteer portal I’m
proud to lead.) Together, B Corps companies are inspiring others to redefine
success in business.
There
are so many reasons to become a B Corp, and it’s not only to save the world.
Although that’s certainly one significant benefit. But the B Lab points out
other bottom-line benefits as well:
- Attracting
and engaging talent
- Generating
press
- Attracting
investors
- Saving
money and accessing services
- Differentiating
from pretenders
- Participating
in the B Corps ad campaigns
The
B Lab encourages all companies to compete not just to be the best in the world,
but the best for the world. That means being the best
for its workers, best for the community, and best for the environment.
Living wage
Not
to be confused with a minimum wage, a living wage is what a person needs to
support himself or his family. The exact number fluctuates according to
geographic region, but the result is the same: a living wage benefits the
worker, business, community and overall economy.
Formalize Charitable Commitments
This
one resonates deeply with me as it’s the crux of Causecast’s mission: helping
companies establish a more effective and meaningful relationship with
nonprofits. A big part of this relationship is the one that’s developed by a
company’s best brand ambassadors – its employees. Creating a strong volunteer
and giving program – one that’s supported by dynamic tools that increase
employee participation and engagement – is one way that companies create a
culture of impact that benefits recipient and givers alike.
Resource & Waste Management
B
Lab’s Best for Environment honorees were the most emphatic about reducing our
collective carbon footprint as the top priority for companies. Reducing water,
supply and packaging usage; reusing when possible; recycling always – all of
these steps can make a dramatic difference.
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Supply
Chain Management
Being
a socially responsible company also means choosing socially responsible
vendors, according to many of the Best for the World honorees. When you set
standards for your supply chain, you send a message to your employees, customers
and community at large about how seriously you take your commitment to be a
good corporate citizen.
Transparency and the Triple-Bottom Line
Examining
how a company frames its business model is another area that many honorees
noted. Transparency around financials is one practice that companies pointed to
as culture-changing. Beyond that, transparency around environmental impact and
policies as well as volunteering and giving brings discipline and focus to
these areas and encourages others to follow suit. Committing to a triple bottom
line decision mode was also emphasized, as it encourages companies to
incorporate social good metrics into their overall performance.
What’s
clear to me is that when company leaders demonstrate that they care about the
people and communities that surround them, they set their organizations apart
and strengthen them in every way. You build a culture not by talking but by
doing, and all of the B Corps companies are leading by example. The B Corps
movement is creating higher quality jobs, passing laws, driving capital, and
leveraging capitalism to cause change.
As
businesses join forces to help solve the most important issues of our time,
it’s an exciting moment to support the cultural sea change taking hold in
Corporate America. I’m proud to be engaged in this important work, pleased to
classify Causecast as a B Corps, and as motivated as ever to encourage other
company leaders to embrace their full potential for impact.
-Business
2 Community
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