The Wave (HK) Corporation Limited

Certified B Corporation
Headquarters

Hong Kong, Hong Kong S.A.R.

Certified Since

July 2017

Industry

Membership organizations

Sector

Service with Minor Environmental Footprint

Operates In

Hong Kong S.A.R.

The Wave is the newest 24/7 integrated business platform, which has pop-up stores, F&B floors, co-working spaces and event areas all under one roof. The Wave's mission is to help the next wave of passionate entrepreneurs and SMEs to realize their dreams and grow their businesses beyond limits. They aim to become a Certified B Corporation that generates positive impact on society, workers, the community and the environment in addition to profits, which they believe are crucial commitments to creating a more sustainable future. The Wave provides customized solutions/ spaces for startups, corporate, event organizers etc. For instance:Co-working space Ð including both hotdesks and private work stationsEvent space Ð ranging from 6 person meeting rooms to 500 person seminar hallRetail area Ð consisting pop-up store, F&B, sports etc. The Wave is one of the first integrated platforms in Hong Kong to place a jointed social impact for startups, entrepreneurs, business owners, workers and consumers. The Wave can use business as a force to lead the way on community development, environmental ethics and cultural diversity.

Overall B Impact Score

Based on the B Impact assessment, The Wave (HK) Corporation Limited earned an overall score of 82.1. The median score for ordinary businesses who complete the assessment is currently 50.9.
82.1
82.1 Overall B Impact Score
80 Qualifies for B Corp Certification
50.9 Median Score for Ordinary Businesses

Governance 12.1

The Governance Impact Area evaluates a company's overall mission, engagement around its social and environmental impact, ethics, and transparency. This section also evaluates the ability of a company to protect their mission and formally consider stakeholders in decision making through their corporate structure (e.g. benefit corporation) or corporate governing documents.

Mission & Engagement2.0
Corporate Accountability0.9
Ethics2.0
Transparency4.7
+ Mission Locked2.5

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.


Workers 31.3

The Workers Impact Area evaluates a company's contributions to its employees' financial security, health and safety, wellness, career development, as well as overall engagement and satisfaction. In addition, this section recognizes business models designed to benefit workers, such as companies that are at least 40% owned by non-executive employees and those that have workforce development programs to support individuals with barriers to employment.

Compensation & Wages9.3
Benefits11.5
Training & Education1.6
Worker Ownership2.8
Management & Worker Communication2.7
Job Flexibility/Corporate Culture1.6

Community 26.9

The Community Impact Area evaluates a company's engagement with and impact on the communities in which it operates, hires from, and sources from. Topics include diversity, equity, and inclusion; economic impact; civic engagement; charitable giving; and supply chain management. In addition, this section recognizes business models that are designed to address specific community-oriented problems, such as poverty alleviation through fair trade sourcing or distribution via microenterprises, producer cooperative models, locally focused economic development, and formal charitable giving commitments.

Job Creation3.1
Diversity & Inclusion3.9
Civic Engagement & Giving10.4
Local Involvement6.0
Suppliers, Distributors & Product3.5

Environment 7.7

The Environment Impact Area evaluates a company's overall environmental management practices as well as its impact on the air, climate, water, land, and biodiversity. This includes the direct impact of a company's operations and, when applicable, its supply chain and distribution channels. This section also recognizes companies with environmentally innovative production processes and those that sell products or services that have a positive environmental impact. Some examples might include products and services that create renewable energy, reduce consumption or waste, conserve land or wildlife, provide less toxic alternatives to the market, or educate people about environmental problems.

Land, Office, Plant4.6
Inputs1.4
Outputs0.7

Customers 4.1

The Customers Impact Area evaluates a company's stewardship of its customers through the quality of its products and services, ethical marketing, data privacy and security, and feedback channels. In addition, this section recognizes products or services that are designed to address a particular social problem for or through its customers, such as health or educational products, arts and media products, serving underserved customers or clients, and services that improve the social impact of other businesses or organizations.

+ Support for Underserved/Purpose Driven Enterprises4.1
+ Serving in Need Populations0

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.



Previous Overall B Impact Scores

2017 Overall B Impact Score82.1

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