B Corp and What It Means
While business is the biggest source of some of the world’s most challenging problems, it is also one of the greatest hopes and potential for solving them. Therein lies an amazing new conscious business model that creates prosperity and flourishing for all. It is as if humanity is moving through adolescence and growing into a more mature age. Taking care of both people and planet, fulfilling a purpose, and yes even making a profit. For us, business is a tool for change. It’s about tempering profit with purpose. If you can fill a need in the economy, the world, or people’s lives - profits will come. It’s taking our personal values and infusing them into our business, and then aligning with companies that support those core values. Regenrus is a “For Benefit” company, known as a B Corp, which means that everything that we do is with the intention of making the world a better place – to “B” the change.
What is a B Corp?
B Corp is to business what Fair Trade certification is to coffee or USDA Organic certification is to milk. B Corps are a new type of company that uses the power of business to solve social and environmental problems.
They are for-profit companies certified by the non-profit B Lab to meet rigorous standards of social and environmental performance, accountability and transparency.
Today, there is a growing community of more than 2,000 Certified B Corps from 50+ countries, representing over 130 industries working together toward one unifying goal: leading a global movement to redefine success in business. It’s literally an opportunity to change the DNA of how business is done.
Why Become a B Corp?
Research shows that social and environmental credibility is important to the modern consumer. For example, according to Goldman Sachs, consumers identified “being socially responsible” as the factor most likely to influence a purchasing decision, compared with lower price, easily available products, quality and product prestige. Goldman Sachs also reported that 52% of U.S. companies claim that they actively seek information about company”s corporate social responsibility record. Becoming a B Corp engages the entire employee population around working for a higher purpose. They are focused on making a difference for the long term and are invested in building a company that will be around for a very long time. It showcases your priorities as a company.
It makes good business sense to choose the path of sustainable, regenerative practices rather than the more traditional profit-centered company. It’s the modern way to grow a business, while also reflecting one of our core values: “Good for You - Good for Me - Good for the Whole.” It used to be that a good product was safe, tasted good and made some money along the way. Now, a good product is one that is safe as well as sustainably and responsibly sourced, manufactured and distributed. It now has to have a whole story with it.
Enter social media and millennials. They pay attention to politics, the economy and our planet. They care, and they have an amazing ability to get online and make something happen on Twitter, Facebook or a number of other social media platforms and challenge businesses in an incredibly fundamental way. They have shown that they have the ability to run purpose-driven companies that don’t compromise their values for profit. When we determine to make the planet profitable - then business can become a “Force for Good™”.
“The B Corp movement is one of the most important of our lifetime, built on the simple fact that business impacts and serves more than just shareholders—it has an equal responsibility to the community and to the planet.”
Rose Marcario, CEO of Patagonia
Why B Corps Matter
Certified B Corporations™ redefine success in business. It demonstrates that a mission-based business can succeed, and succeed at the highest levels.
Individually, B Corps meet the strict standards of verified social and environmental performance, public transparency and legal accountability, while aspiring to use the power of markets to solve social and environmental problems. The rigorous standards required to be certified build trust and often result in improved performance. Through the power of their collective voice, one day all companies will compete to be best for the world, and society will enjoy a more shared and durable prosperity for all. It's the modern way to grow a business, where the common thread is being driven by a sense of purpose and turns consumer spending into a powerful force. That is the power of bringing together like-minded people with a common purpose, and together we can change the world.
About B Lab
B Lab is a non-profit organization that serves a global movement of people using business as a Force for Good™.
Their vision is that one day all companies compete not only to be the best in the world, but the Best for the World® and as a result, society will enjoy a more shared and durable prosperity.
Their focus is on building a global community of Certified B Corporations™ who meet the highest standards of verified, overall social and environmental performance, public transparency and legal accountability.
B Lab measures what matters through the use of the B Impact Assessment and B Analytics to manage their impact—and the impact of the businesses with whom they work. The assessment process separates those companies who are really doing good in the world from those who just say they are. You can learn more about how they are inspiring millions to join the movement through storytelling on bthechange.com.
The B Corp Declaration of Interdependence
"We envision a global economy that uses business as a force for good.
This economy is comprised of a new type of corporation: the B Corporation,
Which is purpose-driven and creates benefits for all stakeholders, not just shareholders.
As B Corporations and emerging leaders of this economy, we believe -
That we must be the change that we seek in the world.
That all business ought to be conducted as if people and place mattered.
That, through their products, practices, and profits, business should aspire to do no harm and benefit all.
To do so requires that we act with the understanding that we are each dependent upon another and thus responsible for each other and future generations."
Consider Citizen Commerce
I have held a deep belief for several years now that collaboration is the new currency. Citizen commerce is about using our collective power to buy products that reflect our values. It can shape the world that we want to live in.
Just take a moment and imagine your dollar bill as a little magic carpet. Then imagine that you could shrink it down and travel all around the world on it and see what your money is doing at night. Would you be proud of it? Is it sitting in a vault, or is it out working and doing good in the world. We are all economic players in the current system. We make a difference. We impact other people. We vote with our dollars. Together we have the chance to do something really big – to make a measurable difference with a global impact.
As a Social Impact company and an environmentally conscious community, we at Renergus are inspired to be part of such an important movement. We believe it is a true opportunity to create meaningful change, while genuinely embodying our business model:
Shared Values + Shared Action + Shared Revenue = Massive Social Impact
In the end, all businesses have to serve the market. When “we” (being the market) become more and more mindful in our choices, the marketplace will truly serve the whole.
I invite you to consider joining us to “Be the First”, as together we seek to ”B” the change.