B Lab Launches Public Consultation on the Standards for B Corp Certification
16 January 2024 – B Lab launches an anticipated public comment period on the draft standards for B Corp Certification, inviting feedback through a new, interactive website from today through 26 March 2024.
As the nonprofit network transforming the global economy to benefit all people, communities, and the planet, B Lab has reached a vital juncture in the evolution of B Corp Certification standards. The organization is seeking input from a variety of stakeholders to understand if this latest draft is ambitious, clear, and attainable for businesses globally whilst delivering the impact the world needs to address the urgent challenges of today and tomorrow.
B Lab’s standards are at the heart of the B Corp movement. They define social, environmental, and governance best practices for businesses that drive a shared vision of an inclusive, equitable, and regenerative global economy that benefits all stakeholders. Using an iterative development process, B Lab is responding to stakeholder feedback in public consultation phases, developing new standards that are comprehensive and impactful.
The second consultation invites feedback on the standards from B Corps, business leaders, policymakers, civil society, experts in sustainability and social justice, and members of the general public invested in defining what it means to use business as a force for good in society.
The latest draft of the standards is based on feedback from a preliminary consultation that took place in 2022 and elicited responses from more than 1,000 stakeholders, alongside research, expert interviews, and inputs from B Lab's standards governing bodies. It dives into more detail, sharing the specific performance requirements that companies must meet to become a Certified B Corp, along with helpful terms, compliance criteria, and implementation guidance, including:
Specific performance requirements across a range of social, environmental, and governance standards topics - known as Impact Topics.
Cross-cutting changes that tailor performance requirements according to company size, sector, and operating context.
Clear, concrete performance requirements at recertification to demonstrate continuous improvement, ongoing compliance, and share progress on topic-specific goals.
A new section of Foundation Requirements to assess eligibility to pursue certification, and identify those with Impact Business Models (IBMs) to qualify for recognition benefits.
“Right now, we have reached a vital juncture. 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,” says Clay Brown, Head of Standards, Certification, and Product Delivery at B Lab Global.
Judy Rodrigues, Director of Standards at B Lab Global, encourages engagement from all stakeholders: “Whether you are a sole proprietor or part of a large multinational corporation, your feedback in this second consultation is critical in shaping B Corp Certification and defining what business leadership means to be a force for good.”
For the first time, B Lab has published the proposed revised standards on an interactive website, alongside an integrated survey to capture feedback, allowing businesses to access the standards' content that relates specifically to their size and context and provide direct feedback.
Input received during the second consultation period will be considered for inclusion in the next version of the standards. This will then be presented to B Lab’s Standards Advisory Council and Board of Directors - independent bodies that ensure both the impartiality and credibility of the standards development process.
B Lab believes that the standards are truly capable of raising the bar for businesses and creating a global movement towards achieving an inclusive, equitable, and regenerative economy. Help shape the future of B Corp Certification: https://bit.ly/3vjPuvT
For more information: https://www.bcorporation.net/en-us/standards/performance-requirements/
About B Lab Global: B Lab is transforming the global economy to benefit all people, communities, and the planet. A leader in economic systems change, the global network creates standards, policies, tools, and programs for business, and we certify companies — known as B Corps — who are leading the way. To date, the B Corp community includes over 700,000 workers in over 8,000 B Corps across 95 countries and 162 industries, and more than 250,000 companies manage their impact with the B Impact Assessment and the SDG Action Manager. B Lab has created and led efforts to pass over 50 corporate statutes globally that enable stakeholder governance. To learn more and join the movement, visit www.bcorporation.net.
Media Contact: press@bcorporation.net