What are B Corps?
B Corps are a new type of business that voluntarily meet higher standards of social and environmental performance, accountability, and transparency. B Corps want to improve the quality of life in our communities and look at the Triple Bottom Line- People and Planet along with Profits.
This economy is comprised of a new type of corporation – the B Corporation- which is purpose-driven and creates benefit for all stakeholders, not just shareholders.
As B Corporations and leaders of this emerging economy, we believe:
- That we must be the change we seek in the world.
- That all business ought to be conducted as if people and place mattered.
- That, through their products, practices, and profits, businesses should aspire to do no harm and benefit all.
To do so requires that we act with the understanding that we are each dependent upon another and thus responsible for each other and future generations.
B Corps look not just to be the best in the world, but best for the world.
How do you become a B Corp?
The first step is to take the B Impact Assessment. This comprehensive online tool looks at:
- Corporate governance
- Corporate transparency
- Employee compensation
- Employee training
- Work environment
- Community practices
- Environmental practices
- Business practices
Answers to questions are awarded points which are totaled for a final score. Companies eligible to become a Certified B Corp must score at least 80 out of 200 points.
If a company is able to obtain 80 or more points, most companies will need to engage key board members to agree to amend some governing documents. These legal requirements will be different for every state.
After completing those step, a company can then become a Certified B Corporation.
Why Become a B Corp?
It is different for every company but most want to be a part of something bigger than themselves and are working together toward one unifying goal: to redefine success in business.
In addition to leading a movement, there are business motivations as well. They include:
- Differentiate from Pretenders
- Pass Legislation
- Attract Investors
- Benchmark Performance
- Generate Press
- Save Money and Access Services
- Attract and Engage Talent
- Protect Mission
- Partner with Peers
- Participate in Ad Campaigns
Why is Dapwood a Certified B Corp?
There are several reasons but the most important one to us is this:
There is a great deal of gamesmanship going on in the marketplace today. Deceptive claims are everywhere. Anyone can call themselves eco friendly or green or sustainable or earth safe. By being a Certified B Corporation, Dapwood Furniture has stepped above the greenwashing and has proven to be walking the walk. For the posers we say- either come along with us and make a difference in the world or shut up.