What are B Corps?
B Corps are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency.
Today, there is a growing community of more than 1,000 Certified B Corps from 33 countries and over 60 industries working together toward 1 unifying goal: to redefine success in business.
Fairware became a member of the B Corporation Community in 2012. Certified B Corporations are recognized as using the power of business to solve social and environmental problems and are unlike traditional businesses because they meet specific criteria, including:
- Meeting comprehensive and transparent social and environmental performance standards;
- Meeting higher legal accountability standards;
- Building a business constituency of good businesses.
To become a B Corporation, Fairware had to achieve 3 things:
- Complete the B Impact Assessment and earn a reviewed minimum score of 80 out of 200 points.
- Adopt the B Corporation Legal Framework to incorporate the mission of Fairware into our legal structure.
- Sign the B Corporation Declaration that makes our certification official.
By successfully completing these steps we have joined the ranks of Patagonia, Aspen and other partners of the B Corporation Community recognized for CSR leadership.
For Fairware, becoming a B-Corp was driven by a few factors. First and foremost, we view the changes to our incorporation documents and shareholder agreement as an act of advocacy, of walking our talk and of sending a signal to the world that there is a different way to do things.
The B Corp rating system and questionnaire process was also a good internal ‘gut-check’ or audit – it highlighted some gaps in our own systems (e.g. while we do corporate giving in practice, it’s not guided by any policy or framework).
And finally, it serves to send a signal to our customers, vendors and peers that we’re committed to a business model that reflects community and environmental priorities. In an increasingly crowded space of ‘green’ or ethical companies, it provides us with a 3rd party stamp of approval that we’re the real deal.
We’re proud to be a part of the B Corp community! Learn more about B Corps and why it matters here: http://bcorporation.net