Defining the term “B Corp” and how Aclymate can help your business get certified
February 8, 2024
Balancing financial success with sustainability practices can be a challenge for many companies. Becoming a B Corp allows businesses to focus on their social and environmental responsibilities while still making a profit.
B Corps, short for Benefit Corporations, are businesses that are committed to making a positive impact on the environment and their community. B Lab, a non-governmental organization, awards the B Corp certification to businesses that follow strict requirements to assess, measure, and report their emissions. This certification shows that your business upholds a “high standard of social and environmental performance”. The goal is to create an economy that is inclusive, sustainable, and equitable.
Why are B Corps Important?
B Corps play a crucial role in the community for many reasons. B Corps are dedicated to making a beneficial impact on both society and the environment. This commitment goes beyond profit, addressing issues of climate change, environmental sustainability, and general welfare. Because businesses contribute significantly to greenhouse gas emissions, environmental responsibility is becoming more important around the world. B Corps take responsibility for their carbon emissions, working to offset and reduce their impact on the environment through sustainable practices. They also play a role in supporting local businesses and suppliers and advocate for ethical company practices.
What are the Benefits of Becoming a B Corp?
Getting certified as a B Corp offers several benefits for businesses. B Corps are able to gain the trust and loyalty of consumers by consistently providing their emissions reports, which is required to maintain certification. Customers are more likely to support a business that is environmentally and socially conscious. You’ll earn a certification badge to place on your website and products when you complete the requirements. Getting certified as a B Corp helps your company to improve its brand and stand out in a competitive market. Additionally, businesses are able to collaborate with other B Corps in their community who share the same values. Ultimately, as B Corps evaluate their impact on the people and the planet, they not only increase their profits but also contribute to the fight against climate change.
How to Achieve Certification
As outlined on B Lab’s website, your company must do the following to achieve a B Corp Certification:
“Demonstrate high social and environmental performance by achieving a B Impact Assessment score of 80 or above and passing our risk review. Multinational corporations must also meet baseline requirement standards
Make a legal commitment by changing your corporate governance structure to be accountable to all stakeholders, not just shareholders, and achieve benefit corporation status if available in your jurisdiction
Exhibit transparency by allowing information about your performance measured against B Lab’s standards to be publicly available on your B Corp profile on B Lab’s website”
How Aclymate Can Help Your Business Meet B Corp Requirements:
Listed below are four proposed B Corp requirements that may apply to your business. Aclymate has helped customers with each of these through our carbon accounting software and custom reporting feature and can do the same for your business
1. Measure and report Scopes 1, 2, and 3 emissions according to the Greenhouse Gas Protocol annually:
Your business will need to evaluate and report the carbon emissions that it is directly responsible for (Scope 1), emissions indirectly produced by your company (Scope 2), and all the other indirect emissions from your company's supply chain (Scope 3).
How we can help: Our carbon accounting tool uses the Greenhouse Gas Protocol, making this process automatic. Our custom reporting tool guarantees that you'll have everything you need to renew your B Corp certification.
2. Third-party verification of your emissions report:
An independent organization separate from your company must review and confirm the accuracy of your reported data.
How we can help: Third-party verification of your emissions report is included in Aclymate’s Turn Key Service.
3. Establish a net zero target in line with the Paris Agreement:
The Paris Agreement is a global deal that aims to limit temperature increases and fight climate change. Your business needs to set a goal to balance the greenhouse gasses you emit with those you remove or offset.
How we can help: Our upcoming net zero tool will help you establish this goal easily, while also giving your company a public-facing net zero page to submit to B Corp.
4. Define a climate transition plan to reach net zero emissions:
Your business must develop a clear plan on how to eliminate or offset your greenhouse gas emissions.
How we can help: Aclymate’s net zero tool will help your business create and demonstrate this plan, while also tracking your progress.
Try this tool on the B Corp website to determine which requirements you'll need to follow.
Getting the necessary documentation and following B Corp requirements can be time consuming, but the benefits are substantial. Attracting customers, improving your brand, and collaborating with like-minded businesses are just a few of the perks. Ultimately, becoming a B Corp means advocating for both your community and our planet.
Aclymate can help your business easily navigate through the emissions reporting portion of the certification process. Start your free 33 day trial here.
February 8, 2024
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