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Becoming a B Corp business

[ad_1] | Thom Groot

Gaining B Corp status is a strenuous process but an incredibly valuable one for companies that want to prove their commitment to good governance, and their role in wider society, argues Thom Groot, co-founder of The Electric Car Scheme.

Over the past few decades, businesses with a purpose that goes beyond satisfying their shareholders have become significantly more prevalent as employees opt for companies that not only treat them well but treat society and the environment responsibly.

The arrival of the B Corp certification – provided by B Lab – is a way of signalling to the world that a business has prioritised purpose and responsibility. Words are much easier than actions however, which is why achieving certification is so hard to achieve.

Certified B Corps are companies that have been verified to meet high standards of social and environmental performance, transparency, and accountability and my company, The Electric Car Scheme, has just gone through this process.

The B Impact Assessment evaluates a company’s practices and outputs across five categories: governance, workers, community, the environment, and customers.

Achieving B Corp status took The Electric Car Scheme more than 18 months including planning, auditing and certification. It was a process that challenged us as a business in unexpected ways but has left us stronger for it.

Chief among the challenges of achieving the status is the amount of time and resources it uses up.

Application, the first step,…

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