Strategy & InnovationMarch 5, 2024

What is B Corp month & how is it boosting better business?

Every March, B corporations worldwide join together in celebrating what it means to be a B Corp: a commitment to business practices that support the global economy, whilst focusing on positive changes for people, communities and the environment.

B Corp Month 2024, “This Way Forward”, is all about progress and embracing change. This year’s theme focuses on the B Corp community as a work in progress, encouraging members to share plans for future impact growth. After all, B Corp certification isn’t a final goal, but a continuous journey.

In this article, we’ll discuss the benefits and challenges of becoming a B Corp and how the B Corp community celebrates during March.

What is a B Corp?

A B Corp is a purpose-driven business that meets standards of social and environmental performance, accountability and transparency, certified by B Lab. B Lab is a non-profit network established with the aim to shift the global economy from a system that profits few to one that benefits all.

Why is being a B Corp a big deal? B Corp status offers tangible benefits to businesses. In addition to contributing to a more sustainable future, B Corp status can boost a company’s reputation and attract like-minded customers, employees and other stakeholders.

B Corp businesses are outpacing others, growing 28 times faster than the UK’s national economic growth. This rapid growth highlights that being on-trend with sustainability isn’t just good ethics – it’s good business. According to Forbes, the number of B Corps has tripled in five years, proving that sustainability and social responsibility are becoming a demand in the business world.

How to become a B Corp

Attaining B Corp certification in the UK involves a thorough process where businesses are evaluated on their impact in five key areas: treatment of workers, governance, customer relations, environmental impact and community engagement. These pillars are designed to foster a holistic approach to continuous improvement and positive business practices.

To become a UK B Corp, the process starts with completing a B Impact Assessment and Disclosure Questionnaire. Businesses must also have a legal structure which reflects their commitment to considering the impact of business decisions on all stakeholders, not just shareholders. After passing the assessment and a two-stage review by B Lab UK and B Lab Global, a company becomes a certified B Corp. B Corporations must annually report their impact and recertify every 3 years.

Last year, Morelli Consulting proudly became part of the B Corp UK community. We’re looking forward to creating our first impact report this year, offering an opportunity for us to finetune our strategies to make meaningful improvements. Our journey mirrors that of the clients we support through B Corp certification, offering them unique insights into the practicalities of achieving and maintaining B Corp status.

The certification is designed to be inclusive; welcoming businesses of all sizes. The requirement for an annual impact report encourages companies to continuously reflect and improve on various aspects of their operations and governance, from monitoring and reducing their environmental impact, to looking beyond their immediate sphere of influence and the impact they have through the clients and customers they work with.

However, the journey to certification can be demanding and time-consuming, which Morelli Consulting can help with. Some might view it as just a ‘tick-box exercise’, but the necessity of producing an annual impact report encourages and incentivises self-reflection, providing a clear framework for continuous improvement.

B Corp isn’t perfect

While B Corps aim for high standards, as with any framework or certification scheme, nothing is perfect.

Critics may argue that the process of B Corp certification is too general and can allow for greenwashing, with some certified companies having been questioned for their environmental practices. In response to these challenges, B Corp itself, recognises that it also needs to continuously improve and raise its own standards. It is in the process of refining and updating its standards, to ensure it retains the level of quality and trust, so respected within the B Corp community and beyond.

Celebrating B Corp Month

In the UK and globally, B Corp Month features various events and activities, ranging from educational workshops to engaging community projects. These initiatives highlight the diverse and impactful ways B Corps are driving positive change, both locally and internationally.

The Morelli Consulting team are thrilled to join the B Corp community in celebrating B Corp month. Our team will be heading down to a nearby beach to both appreciate and improve our local environment, carrying out a beach clean to help combat plastic pollution. Morelli Consulting will also be joining fellow B Corp members in Brighton to listen, learn and be inspired by other local businesses in the B Corp community.

Conclusion

As a B Corp, the effort you put in reflects the benefits you receive. It’s clear that the B Corp movement is more than just a certification; it’s a commitment to a new way of doing business – one that prioritises the welfare of people and the environment.

This B Corp Month, we encourage everyone to engage with the B Corp community’s activities, embracing the spirit of positive, continuous change. Join us in this movement to create better businesses for the planet.