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Becoming a certified B Corp is a great opportunity to "walk the talk" in terms of social enterprise and your business' commitment to the triple bottom line, where companies prioritize people and the ...

Becoming a certified B Corp is a great opportunity to "walk the talk" in terms of social enterprise and your business' commitment to the triple bottom line, where companies prioritize people and the environment alongside profits to make a measurable difference in society. This presentation covers the basics on B Corps, what it takes to become one, and how for-profit organizations can use this designation to build community while they build business.

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  • So what did we do?\nWe got creative with:\n- what we could afford\n- personal and employee priorities\n- working within our community, both local and in our industry\n
  • Employees: PD, healthcare, beer brewing, flex time, PTO, etc.\n
  • Employees: Lunch-n-Learn\n
  • Environment & Community: \nEco-Andersonville certified business & advisory committee\nSponsor Green Week events\n
  • Environment & Consumers: Climate Ride\n
  • Community, Environment & Employees: Bike-to-Work Week\n
  • Community: reach out to others about B Corp legislation and being a socially responsible business.\n
  • Consumers: more cause-driven clients\nAlso more pro bono work\n
  • Environment: Recycling\nAbove Big Jones: NGRA-certified rest\nUse The Resource Center\n\n
  • Environment: Composting\nAlso: replaced lightbulbs, BPV-free paint, insulation, water conservation\n
  • That’s how we approached it. How about you?\n
  • \n

B corps101 B corps101 Presentation Transcript

  • B Corps 101Tim Frick | @timfrick Mightybytes
  • Why do B Corps matter?Certified B Corporations are leading a movement toredefine success in business and build a more inclusive,resilient and sustainable economy. B Corps want to influence the market beyond the scope of their individual businesses. These entrepreneurs are striving to be, not just the best in the world, but the best for the world. B Corporations - Public Policy - Impact Investing
  • What is a B Corporation?Certified B Corporations use the power ofbusiness to solve social and environmentalproblems. B Corporations - Public Policy - Impact Investing
  • What is a B Corporation?Unlike traditional businesses, B Corps must:• Meet comprehensive and transparent social and environmental performance standards• Meet higher legal accountability standards• Build business constituency for public policies that support sustainable business B Corporations - Public Policy - Impact Investing
  • Better Run Companies are Better Businesses B Corps Other Sustainable Other Businesses BusinessesGrew jobs by +5% 52% 39% ?Paid bonuses to non- 55% 38% ?executive employeesCovered at least some of 87% 56% 26%employees’ health insuranceActively recycle at least one 95% 88% 45%output materialDonate >10% of profits or 32% 19% ?>1% of revenues to charitableorgs. B Corporations - Public Policy - Impact Investing
  • Who are the B Corps? 603 Companies 60 industries 40 states and 6 countries $4 billion in revenues $6 billion in AUM B Corporations - Public Policy - Impact Investing
  • What is the value of being a B Corp?• Differentiate brand• Maintain mission• Save money• Generate press• Build Business• Improve and benchmark performance B Corporations - Public Policy - Impact Investing
  • How does a company become certified?To become certified a company must:1.Earn a minimum score of 80 (out of 200 available points) on the B Impact Assessment2.Adopt the B Corp Legal Framework to bake the mission of the company into its legal DNA3.Sign the Declaration of Interpendence and B Corp term sheet B Corporations - Public Policy - Impact Investing
  • The B Impact Assessment B Corporations - Public Policy - Impact Investing
  • The B Impact AssessmentOrganized into five sections: • Accountability • Employees • Consumers • Community • Environment B Corporations - Public Policy - Impact Investing
  • The B Impact AssessmentOrganized into five sections:Accountability: • Evaluates a company’s governance and transparency.  • Focuses on the company’s mission, stakeholder engagement, and overall transparency of the company’s practices and policies. B Corporations - Public Policy - Impact Investing
  • The B Impact AssessmentOrganized into five sections:Employees: • Assesses company’s relationship with workforce. • Measures how company treats workers through compensation, benefits, training, and ownership opportunities. • Focuses on work environment within company through communication, job flexibility, corporate culture, and worker health and safety practices. B Corporations - Public Policy - Impact Investing
  • The B Impact AssessmentOrganized into five sections:Consumers: • Measures company’s impact on customers. • Focuses on whether company sells products or services that promote public benefit, and if those products/ services are targeted towards serving underserved populations. • Measure whether a company’s product or service is designed to solve a social or environmental issue. B Corporations - Public Policy - Impact Investing
  • The B Impact AssessmentOrganized into five sections:Community: • Assesses a company’s impact on its community. • Evaluates companys supplier relations, diversity, and involvement in the local community. • Measures the company’s practices and policies around community service and charitable giving. B Corporations - Public Policy - Impact Investing
  • The B Impact AssessmentOrganized into five sections:Environment: • Evaluates company’s environmental performance through its policies and practices in the areas of: • facilities • materials • resource • energy use • emissions B Corporations - Public Policy - Impact Investing
  • B Corp Legislation B Corporations - Public Policy - Impact Investing
  • Certified B Corp vs. Benefit CorpWhat? Certified B Corporation Benefit Corporation Same or Different?Accountability Directors required to consider effects of Directors required to consider effects of Same decisions on shareholders and stakeholders decisions on shareholders and stakeholdersTransparency Must publish a report assessing their Must publish publicly a report assessing Same overall social/environmental performance their overall social/environmental against a third party standard performance against a third party standardPerformance Must achieve a verified minimum score on Report is not required to be verified, Different the B Impact Assessment certified or auditedSupport Can access portfolio of services and -- Different support from B Lab (marketing, raising money, etc.)Availability Available in all 50 states and around the Legally recognized by 7 states Different world B Corporations - Public Policy - Impact Investing
  • Healthcare Beer!ProfessionalDevelopment Fund
  • Team MightybytesCycling Advocates
  • Cause-Driven Clients
  • AnyQuestions?
  • Thank You! Tim Frick | @timfrick Mightybytes tim@mightybytes.com