B Corps: Using Business as a Force for Good

In today’s world, businesses are increasingly expected to do more than just make a profit. Many consumers and investors are demanding that companies show a commitment to the environment, their workers, and their communities. One way companies can demonstrate this is by becoming a Certified B Corporation, or B Corp. Eco-Products and Vegware are proud to be certified B-Corps, with Eco-Products earning certification in 2016, and Vegware in 2023. This month, we are joining others in celebrating B Corp month.

What is B Corp Certification?

A B Corp company is one that has been certified by B Lab, a nonprofit organization that rigorously assesses businesses for a range of social and environmental factors. To receive certification, a company must meet stringent standards as to how it impacts the environment, treats customers and employees, helps the community, and demonstrates accountability and transparency.

Unlike traditional companies, which are legally required to prioritize profits for shareholders, B Corps are legally obligated to take into account how business decisions affect the world at large, from employees and owners to customers, the community and the environment. In short, being a B Corp distinguishes a company that takes a balanced approach from those that focus entirely on increasing profits and the bottom line.

Why Does B Corp Certification Matter?

Becoming a B Corp has numerous benefits, including:

Building trust: The market is awash in companies and products claiming to be “green.” Some, however, are “greenwashing,” or making false or misleading environmental claims. B Corp certification is an objective, third-party stamp of approval that shows a company is truly committed to the greater good.

Attracting talent: Today’s workforce, especially the upcoming Gen Z, wants more than a paycheck. Employees want to know the companies they work for share their values. B Corp certification shows potential hires that a company cares about its impact and not just about making money. And that is very appealing to top talent in an increasingly competitive world.

Drawing consumers: Similar to today’s employees, consumers are also becoming more values-driven and eco-conscious. More customers are demanding that companies do the right thing, and they are willing to take their business elsewhere to prove it. B Corp certification can be the deciding reason for consumers wanting to support a company that cares about people and the planet.

Winning over investors: Impact investing or investing in companies that promote responsible practices as well as financial returns, is becoming more common. B Corp certification is one important way to attract and retain investors looking for companies that align with their ethical values and environmental standards.

Boosting excellence in operations: To achieve B Corp certification, companies need to examine how they operate and where they can improve. These internal assessments often lead companies to be proactive, making changes that increase efficiency, reduce risks, become more sustainable and promote growth.

The Bottom Line

Today’s competitive markets require companies do something to make them stand out, and a B Corp certification does just that. The B Corp designation is a seal of approval at the highest level that shows a company is about doing good while doing business.

B Corp represents the gold standard of corporate responsibility at a time when companies are coming under increasing scrutiny for their practices. It’s a sign that companies aren’t just paying lip service to environmental and social concerns; they are committed to making a positive impact.

Learn more about Eco-Products’ B Corp designation here.