In today’s rapidly evolving business landscape, where consumers are increasingly conscious of the ethical footprint of their purchases, the B Corp certification stands as a beacon of integrity and purpose. At Admind, we are passionate about driving positive change and aligning our operations with the principles of sustainability, ethics, and social responsibility. This commitment is why the concept of B Corp is close to our hearts and practices.
A study reported by the World Economic Forum found that 66% of respondents, including 75% of millennials, expect companies to play a positive role in society. They believe brands have as much responsibility for enacting positive change as governments do. According to the Deloitte’s Sustainable Consumer 2023 report, one in four consumers (26%) are prepared to pay more to protect biodiversity or for sustainable products or packaging (24%) or for products or services of suppliers that respect human rights or commit to ethical working practices (25%).
As customers increasingly abandon products or services from companies that contradict their values, there is undoubtedly a growing market potential for businesses prepared to meet this demand. This is particularly true for those offering environmentally friendly products or actively opposing the dilution of environmental safeguards.
In an exciting milestone for Admind, we proudly achieved our B-Corp certification in 2022, setting a standard for not just what we do, but how we do it. However, the B Corp certification is not merely a badge to be earned once and displayed forever without further effort. It requires continuous dedication and improvement and soon we will be gearing up for the process of recertification.
What is a B Corp?
B Corp, is a certification awarded by B Lab – a global nonprofit organization, to companies that meet rigorous standards of social and environmental performance, accountability, and transparency. Unlike traditional business entities, B Corps are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. This paradigm shift from profit-centered to purpose-driven is what sets B Corps apart.
What Being a B Corp Means
Being a B Corp goes beyond holding a certification; it’s about embodying a set of values and a vision for a more inclusive and sustainable economy. It means putting your company’s social and environmental impact on the same level as financial performance. For companies like Admind, it aligns perfectly with our mission of conscious branding and striving for global excellence in every aspect of our work.
“Evolving the standards is not just about redefining business norms; it’s about scripting a new narrative for the future of our planet and society.” — Clay Brown, interim lead executive and head of standards, certification, and product delivery at B Lab
We believe that:
- we must be the change we seek in the world.
- all business ought to be conducted as if people and place mattered.
- 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.
Benefits of B Corp Certification
Obtaining a B-Corp certification offers substantial benefits that can significantly enhance the operational, financial, and ethical dimensions of the business. When Admind became a B Corp, it joined a community of forward-thinking organizations that are leading the way in sustainable and ethical business practices. This affiliation elevated the brand, attracting conscious consumers, dedicated employees, and like-minded partners who share your values and commitment to making a positive impact.
Tangible benefits:
- Enhanced Reporting on ESG Non-financial Indicators
The B Corp certification not only underscores a company’s dedication to environmental, social, and governance (ESG) principles but also elevates its capability in reporting non-financial ESG indicators. This is particularly beneficial for firms that serve as suppliers to other businesses or are under regulatory mandates to disclose such information. Through the detailed reporting required for B Corp certification, companies can better meet the growing demands for transparency in ESG performance from both clients and regulatory bodies. This comprehensive approach to ESG reporting ensures that a B Corp-certified company is well-prepared to navigate the complexities of sustainability reporting, making it a more attractive partner in a marketplace that increasingly values ethical and responsible business practices. - Enhanced credibility and trust.
In a world where greenwashing is all too common, the B Corp certification is a trusted mark of a company’s genuine commitment to doing good. This can significantly enhance credibility with consumers, clients, and partners. - Attraction and retention of talent
Many professionals seek meaningful work that contributes to the greater good. A B Corp certification attracts like-minded individuals who are passionate about sustainability and social responsibility. - Access to capital and markets
Increasingly, investors are prioritizing sustainability and ethics in their investment decisions. B Corp status can open doors to impact investing and other financial opportunities. - Continuous improvement
The certification process provides a framework to measure our impact and continuously improve our practices. This commitment to betterment is intrinsic to the ethos of B Corps. - Market differentiation
In crowded marketplaces, B Corp certification helps to stand out by clearly communicating our commitment to more than just profit. This differentiation is a key factor in client decision-making, leading to increased customer loyalty and brand trust. - Networking opportunities
Being part of the B Corp community provides numerous networking opportunities with other companies and leaders committed to responsible business. This network is a valuable resource for sharing best practices, forming partnerships, and finding new avenues for collaboration.
How to Get B Corp Certification
At Admind, we understand that the path to B Corp certification is challenging but deeply rewarding. It’s a testament to a company’s resilience, commitment to excellence, and dedication to making a positive impact on the world. As we navigate our journey being a B Corp, we invite other companies to join this movement of purpose-driven business. Together, we can redefine success in business and build a more inclusive and sustainable economy for future generations.
A step-by-step guide to navigating through the B Corp certification process:
- Assessment: The journey begins with the B Impact Assessment (BIA), a comprehensive evaluation of your company’s impact on its workers, community, environment, and customers.
- Meet the requirements: Companies must score at least 80 out of 200 points to qualify. This often requires significant changes in operations, governance, and social and environmental practices.
- Legal accountability: Adjust your corporate governance structure to be accountable to all stakeholders, not just shareholders. This might require altering your company’s legal status or adopting new corporate governance frameworks.
- Certification: After meeting the performance and legal requirements, companies complete the verification process, pay the certification fee, and sign the B Corp Declaration of Interdependence.
The final step in your B Corp journey will last the longest. You’ll prepare for recertification every three years, and use the B Impact Assessment and the certification process as a tool for continuous improvement.
If you want to learn more about this process, feel free to contact us or join our free webinar for a deep dive into the B Corp certification journey.
Insights and Inspirations from Admind’s Certification Experience – Join Our Webinar
If you’re intrigued by the concept of B Corp certification and wish to delve deeper into its intricacies, we warmly invite you to join our upcoming webinar, conducted in Polish, scheduled for March 26th.
This webinar is designed to offer a comprehensive overview of our journey toward B Corp certification, highlighting the challenges we faced, the solutions we discovered, and the profound impact this journey has had on our organization.
Our speakers, Mateusz Zabierowski (Admind’s CEO and co-founder), Paweł Niziński (founder and present CEO of BETTER) and Monika Nachyła (Partner at Abris Capital Partners, ESG expert) will discuss the tangible and intangible benefits of becoming a certified B-Corp, reflecting on how this prestigious certification aligns with the values of sustainability, ethics, and social responsibility.
This is an exceptional opportunity for Polish businesses interested in embarking on their own B-Corp certification journey or for anyone curious about the transformative power of integrating social and environmental goals into a company’s mission. By sharing our experiences, we hope to inspire and guide others toward positively impacting the world through responsible business practices.
References
Eco-wakening: how consumers are driving sustainability | World Economic Forum (weforum.org)
Sustainable Consumer 2023 – Sustainable Products | Deloitte UK