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How: Steps to Certification with Cultivation Center

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Join Cultivation Center founder Amy Rosenblum and Kara Peck from the B Lab Community Team for a deep dive into the nuts and bolts of becoming a Certified B Corp including what to expect and the timeline for certification.

This presentation was given on January 27th, 2016.

Published in: Business
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How: Steps to Certification with Cultivation Center

  1. 1. Hosted by B Lab’s Featuring: Amy Rosenblum, Cultivation Center Steps to B Corp Certification with Cultivation Center
  2. 2. Poll: How interested are you in B Corp Certification? • I’m doing it • Interested, but something is standing in the way • I’m curious, but need to be convinced • I’m a skeptic • N/A
  3. 3. ▪ Review: What is a B Corp ▪ Certification Process ▪ Tips for Success ▪ Timeline Agenda
  4. 4. What is a B Corporation? Certified B Corporations are using the business as a force for good. • Over 1,500 companies in 42 countries • B Corps meet higher standards of social and environmental performance, transparency, and accountability • B Corps are Certified by the non-profit B Lab • B Corp is like fair trade, organic or LEED certification but for the whole company, not just a bag of coffee or a jug of milk
  5. 5. The B Corp Community = Good Company to Keep
  6. 6. Cultivation Center Better Business. Bigger Impact. Connect and consult with community-minded businesses to strengthen infrastructure and create impact. ● Strategy ● Leadership & Governance ● Community Building ● Social Impact ● Fundraising Learn more about Cultivation Center at: https://www.bcorporation.net/community/cultivation-center
  7. 7. What is a B Corp? Earn a verified score of 80 points on the B Impact Assessment Give the company legal protection and permission to consider all stakeholders. Make a profile showing topline performance on Bcorporation.net. 80+ To learn more, visit: www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp
  8. 8. • A certification conferred by the nonprofit B Lab. • A company that meets a high level of social and environmental performance AND makes a legal commitment to consider all stakeholders. • Any for-profit company in any country can pursue certification. Certified B Corporation • A legal entity that has protection and permission to consider its impact on all stakeholders, not just shareholders. • Most benefit corporations are required to create annual reports on their positive impact. • B Lab is an advocate behind the legislation Benefit Corporation
  9. 9. Benchmark performance Attract and Engage Talent Save Money and Access Services Partner with Peers B Corp Certification helps companies: Show Leadership Differentiate from Pretenders Generate Press Attract Investors Watch the first webinar in this series: www.bcorporation.net/videos/webinars
  10. 10. Why We Became a B Corp ● LLC didn’t do us justice ● Community ● Values alignment ● Access to our network ● Helped us live our values ● Differentiated our work
  11. 11. Benchmark & Improve Performance Assess Compare Improve
  12. 12. B Impact Assessment: Measuring What Matters Governance • Transparency • Ownership Workers • Job Growth • Compensation & Benefits • Employment Practices • Work Environment • Employee Ownership Community • Suppliers • Local • Diversity • Charity/Volunteerism Environment • Energy Use • Facilities • Supply Chain • Manufacturing + Impact Business Models • Direct Impact Products/Services • Targeting Underserved Communities • High Impact Supply Chain
  13. 13. Benchmark & Improve Performance “The B Impact Assessment added a new twist to our initiatives – it helped us understand where we are in comparison to other companies.” Rob Michalak
  14. 14. Maintain Mission Adopting the B Corp legal standards: • Bakes the values of the company into its legal DNA • Gives protection and permission to consider non-financial stakeholders (community, employees, suppliers, environment) • Ensures that mission can survive over time
  15. 15. Maintain Mission Learn more about the legal requirements here: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp
  16. 16. • A certification conferred by the nonprofit B Lab. • A company that meets a high level of social and environmental performance AND makes a legal commitment to consider all stakeholders. • Any for-profit company in any country can pursue certification. Certified B Corporation • A legal entity that has protection and permission to consider its impact on all stakeholders, not just shareholders. • Most benefit corporations are required to create annual reports on their positive impact. • B Lab is an advocate behind the legislation Benefit Corporation
  17. 17. Commitment to Transparency See more examples at: www.bcorporation.net/community/find-a-b-corp
  18. 18. • For-Profit Companies of Any Size • Any Industry / Geography • Customized assessment based on industry, size, geography • Any Legal Structure (sole proprietors, LLC’s, Corporations, etc.)* • Companies over 1 year old – special Pending B Corp program for start-ups** Who Can Become a B Corp? *More on legal requirements and process for start-ups coming in a few minutes! ** For more on Pending B Corp, visit: http://www.bcorporation.net/become-a-b- corp/how-to-become-a-b-corp
  19. 19. Poll: What is your next step? • Start or complete the B Impact Assessment • Improve my score to be over 80 • Meet the legal requirement • Complete documentation • Engage my team internally
  20. 20. Process and Tips: Six-Step Plan Step 1: Get a Baseline Step 2: Engage Your Team Step 3: Assessment Review + Documentation Step 4: Implement Step 5: Fine Tune Step 6: Celebrate and Continuous Improvement Step 5: Final Documentation Step 6: Finalize Certification OR
  21. 21. Step 1: Get a Baseline Timeline: 1.5 – 3 hours over 1 week ❑ Create a B Impact Assessment Login ❑ Take a first pass of assessment ❑ Review initial score ❑ See how you stack up compared to 20,000 + that have taken the assessment
  22. 22. Step 1: Get a Baseline • Visit www.bimpactassessment.net to get started
  23. 23. Step 1: Get a Baseline
  24. 24. Step 1: Get a Baseline • Take a first pass – estimates are great at this stage
  25. 25. Step 1: Get a Baseline
  26. 26. • Take a first pass – estimates are great at this stage Step 1: Get a Baseline
  27. 27. Step 1: Get a Baseline
  28. 28. • Use ‘Revisit This’ and make sure to save your work Step 1: Get a Baseline
  29. 29. Step 1: Get a Baseline
  30. 30. Step 1: Get a Baseline
  31. 31. • Impact Business Models Section Step 1: Get a Baseline
  32. 32. Step 1: Get a Baseline
  33. 33. B Impact Assessment FAQ’s • I am a sole proprietor – how do I get into the right track of the assessment? • We have a virtual office – how do I answer questions related to our facilities? • Our company has operations in more than one region • Which year of data should I use when completing the assessment? Visit http://bimpactassessment.net/how-it-works/frequently-asked-questions for more FAQ’s
  34. 34. Steps for Start-Ups • Start-Ups can apply for Pending B Corp Status • Take B Impact Assessment prospectively • Make legal change • More on this in a few minutes! • Pending status lasts for 1 year Visit http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp for more info
  35. 35. Step 2: Engage Your Team Timeline: Varies based on existing tracking / information ❑ Identify the right people to engage: • Human Resources • Operations • Finance ❑ Explain Objectives and Benefits ❑ Assign Questions ❑ Update Your Assessment ❑ Start conversations about the legal requirement
  36. 36. Documents to Gather In some cases, it may be easier to gather information from your team and respond to assessment questions yourself. The following will be helpful for you: ✓ A payroll register/employee roster ✓ Employee handbook ✓ A list of our "significant suppliers," which we define as our top 80% of suppliers/vendors by dollar volume. ✓ A breakdown of revenue from our various products and services ✓ A P&L ✓ Any resource use tracking (energy, GHG's, water, etc.) ✓ Any sustainability / corporate social responsibility goals, reports, progress tracking Step 2: Engage Your Team
  37. 37. Step 3: Documents + Review Call Timeline: 2-3 weeks, 90 minute call ❑ Submit Assessment for Review (90% complete) ❑ B Lab Staff will Schedule Call
  38. 38. Step 3: Documents + Review Call Timeline: 1-2 hours ❑ Submit Operations Documentation ❑ Examples: - Employee handbook - Breakdown of suppliers by location - List of board members ❑ Review Assessment, refine score
  39. 39. Step 4: Implement Timeline: Varies ❑ Use Action Plan and Best Practice tools within the assessment to identify areas to improve your score ❑ Start with the short term / easy to implement items first
  40. 40. Step 4: Implement
  41. 41. Best Practice Guides Step 4: Implement
  42. 42. Steps 5 + 6: Fine Tune & Continuous Improvement Fine Tune & Continuous Improvement Timeline: Varies, 2-6 months on average ❑ If your score is below 80, use this opportunity to fine tune your plan to improve your score and deepen impacts ❑ Celebrate success! Each action you take is moving you down the path toward becoming a better company! ❑ Develop a timeline for certification & share with your team
  43. 43. Step 5: Documentation Timeline: 2-3 Weeks ❑ If your score is above 80, congratulations! You’re ready to move forward certification ❑ Upload additional documentation to verify your score ❑ Finalize score with B Lab staff
  44. 44. Step 6: Finalize Certification Timeline: 1-2 Weeks ❑ Understand your legal requirements ❑ Sign the term sheet and pay annual fees
  45. 45. Legal RequirementsLegal Requirements ❑ Determine your path based on corporate structure and state of incorporation: ▪ Amend your governing documents OR ▪ Adopt benefit corporation status Examples: ❑ LLC in the United States: Amend operating agreement ❑ Delaware Corporation: Adopt Benefit Corporation form within 2 years of certification Learn more about the legal requirements here: http://www.bcorporation.net/become-a-b-corp/how-to-become-a-b-corp Step 6: Finalize Certification
  46. 46. Legal RequirementsTerm Sheet & Certification Fees ❑ Sign B Lab Term Sheet ▪ Certification term is 2-years ▪ Participate in on-site review if randomly selected (10% of Certified B Corps randomly selected each year) ▪ Annual certification fees based on the tiered structure, as outlined below:* Company Revenue Fee $0 - $499,999 $500 $500,000 - $1,999,999 $1,000 $2,000,000 - $4,999,999 $1,500 $5,000,000 - $9,999,999 $2,500 $10,000,000 - $19,999,999 $5,000 $20,000,000 - $49,999,999 $10,000 $50,000,000 - $99,999,999 $15,000 $100,000,000 - $999,999,999 $25,000 $1B+ $50,000+ Step 6: Finalize Certification
  47. 47. Resources ▪ B Corp Press: http://www.bcorporation.net/news-media ▪ How to become a B Corp: http://www.bcorporation.net/become-a-b-corp/how-to- become-a-b-corp ▪ Legal Requirements: http://www.bcorporation.net/become-a-b-corp/why-become-a- b-corp/protect-your-mission ▪ FAQ for Investors & Directors: http://www.bcorporation. net/sites/all/themes/adaptivetheme/bcorp/pdfs/faqs_investors_and_directors4.pdf ▪ Pending B Corp Certification for Start Ups: http://www.bcorporation.net/become-a-b- corp/how-to-become-a-b-corp/steps-start-ups ▪ B Impact Assessment: http://bimpactassessment.net/ ▪ Case Studies: http://bimpactassessment.net/case-studies
  48. 48. Next Steps • Start the the B Impact Assessment:www. bimpactassessment.net • Learn more about the B Corp Certification: www. bcorpororation.net • Sign up for another webinar: http://bit.ly/1R038YK • Have questions? Contact us at: jessica@bcorporation.net or 610-293-0299
  49. 49. Join us. Redefine success in business. Help create the new economy. Build a better business. Compete to be not only the best in the world, but the best for the world.

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