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Being a B Corp means other brands want to work with you

Becoming a B Corp reaps a host of benefits, one of these is how it makes you more attractive to other organisations, which brings you more business and wins you more tenders, bids and contracts. We call it the double whammy ROI of B Corp.

In brief, businesses are scrambling to meet the raft of new legislation and regulations, to conditions being implemented by governments, local councils, investors, institutions, etc. From cities with Clean Air Zones to climate change levies, polluter taxes, mandated emissions reporting, and a whole lot more. The business sector is no longer able to focus on making profit regardless of the impact on planet and people.

So organisations are looking to partner, hire, and buy from other businesses that have valid ESG credentials. It means they have an easier time of tracking their own emissions and showing visibility on their supply chain. We have a number of clients come to us about becoming a B Corp because they just lost a contract due to not being a B Corp.

Here are some examples of how being a B Corp won new business:

Around the world, organisations want to do business with credible ethical businesses for many reasons, e.g. healthier relationships through values-aligned partnerships, simpler emissions reporting, mutual growth benefits, as well as marketing opportunities.

That’s where B Corp Certification comes in. As an independently verified certification, it’s the gold standard and gives credibility to ethical claims.

It offers other organisations an easy way to spot a truly sustainable business from a greenwashing fake one that’s just saying the right things but not doing anything.

In summary, having the B Corp logo is a clear sign that your firm is committed to ethical practices. It gives your company an edge over non-certified competitors when you’re looking to win new business, which can only have a direct positive impact on profits.

Is your organisation ready to B Corp?

Certified B Corps are a new form of business that seeks to value people and planet while making as much profit as possible.

If you think B Corp might be for you, check out our free e-book “2B Or Not 2B: The What, Why & How Of B Corp Certification” here.

Being a B Corp attracts investors

Becoming a B Corp reaps a host of benefits, one of these is greater access to investment capital, loans and growth funds. We call it the double whammy ROI of B Corp.

According to B Lab UK, 70% of B Corps that seek equity finance end up raising the amount they want, compared with 56% of all companies.

Why? In a nutshell, more financiers, bankers and investors won’t work with companies lacking a sustainable strategy. These investors are under pressure from a range of stakeholders, including consumers, who are demanding better ESG performance from businesses. B Corp certification can therefore enhance a firm’s credibility with investors seeking sustainable returns.

According to Morgan Stanley, the growth of sustainable finance in the next decade will be driven by three main trends:

  • Expect a greater diversity of sustainable investing strategies across assets and themes, partly driven by growth trends among Millennial investors.
  • The net-zero transition will change approaches to land use, in order to satisfy demand for renewable power, metals and minerals and nature-based solutions.
  • A proliferation of regulations and voluntary standards across the world will reshape corporate strategies, disclosures and availability of data.

It’s about more than just avoiding the big polluters of the world; investors are actively seeking to invest in businesses with solutions to our biggest challenges. This includes renewable energy, energy efficiency, water technology, social housing, and more.

In recent years, we have seen a tectonic shift of capital. At the beginning of 2020, the value of sustainable investment in major financial markets globally stood at $35.3tn, according to the Global Sustainable Investment Alliance (GSIA), and accounts for 36 per cent of all professionally managed assets across the US, Canada, Japan, Australasia and Europe. The previous two years alone saw growth of 15 per cent, the GSIA said. Actions and ambitions towards decarbonization have also increased. This is just the beginning – the tectonic shift towards sustainable investing is still accelerating.

Here are some examples of how sustainability is shifting the economic landscape…

  • In 2023, the Dow Jones Sustainability World Index (.W1SGIGTD)had a total return of 21.7%, compared to returns of 17% for the global broad market (.SBBMGLU).
  • Kiwi B Corp Kathmandu secured a $100 million loan from ANZ under the condition that they maintained their B Corp Certification
  • UK B Corp Coutts Private Banking and Wealth Management firm says ‘responsible investing’ is one of three key factors consider when deciding where to invest clients’ money – along with managing risk and managing costs.
  • Most banks now offer green loans. For example, the ANZ Business Green Loan lends amounts of up to $3 million to help businesses invest in their sustainable goals.

Around the world, institutional investors, bankers, private equity and angel investors, are demanding higher sustainability credentials from the companies they support financially.

That’s where B Corp Certification comes in. As an independently verified certification, it’s the gold standard and gives credibility to ethical claims.

It offers investors an easy way to spot a truly sustainable business from a greenwashing fake one that’s just saying the right things but not doing anything.

In summary, having the B Corp logo is a clear sign to prospective investors that your firm is committed to ethical practices. It gives your business an edge over non-certified competitors when you’re looking for loans, seed funding, growth funding, or other capital investment.

Is your organisation ready to B Corp?

Certified B Corps are a new form of business that seeks to value people and planet while making as much profit as possible.
If you think B Corp might be for you, check out our free e-book “2B Or Not 2B: The What, Why & How Of B Corp Certification” here.

Being B Corp boosts sales

Becoming a B Corp reaps a host of benefits, one of these is boosted customer sales and brand loyalty. We call it the double whammy ROI of B Corp.

Around the world, we’re seeing a tidal wave of consumers demanding to know more about the provenance of what they’re buying. From clothes to cars and food, consumers are voting with their wallets and increasingly choosing ethical goods and services, which is driving massive shifts in the business sector.

A few statistics to highlight this shift…

  • US sales of products marketed as sustainable grew 5.6 times faster than other products from 2013 to 2018 – NYU Stern Center
  • In 2015, a survey of 30,000 consumers in 60 countries found that 66% of consumers are willing to pay more for products or services from companies committed to positive social and environmental impact – Nielsen, 2015
  • In the UK alone, the market for ethical products grew to more than £81.3 billion in 2017, with demand for sustainable fish growing by nearly 37% in 2016 (Ethical Consumer, 2017)
  • 73% of UK consumers want to be more sustainable in 2021 – YouGov
  • Two thirds of consumers support carbon labelling on products across France, Germany, Italy, the Netherlands, Spain, Sweden, UK and US – YouGov
  • Millennials (80%) are almost twice as likely than Baby Boomers (48%) to pay more for sustainable products – Nielsen… and Gen Z are likely higher.

Given this soaring demand for sustainable products and services, companies are trying to figure out how to both be more sustainable and market themselves as such without risking accusations of greenwashing.

That’s where B Corp Certification comes in. As an independently verified certification, it’s the gold standard and gives credibility to ethical claims.

As well, it offers customers who are worried about issues like plastic pollution, climate breakdown, and social justice, an easy way to spot a truly sustainable business from a greenwashing fake one that’s just saying the right things but not doing anything.

When customers see the logo on a product or service, they tend to automatically trust that brand more than a non-B Corp competitor and thus be more inclined to buy.

In summary, having the B Corp logo on your packaging, marketing materials and pitch documents, is a clear sign to prospective clients/customers that your firm is committed to ethical practices. It gives your business an edge over non-certified competitors when pitching for business and is proven to have a direct positive impact on sales and profits.

Is your organisation ready to B Corp?

Certified B Corps are a new form of business that seeks to value people and planet while making as much profit as possible.

If you think B Corp might be for you, check out our free e-book “2B Or Not 2B: The What, Why & How Of B Corp Certificationhere.

 

 

Being a B Corp attracts top talent and boosts retention

Becoming a B Corp reaps benefits that often take businesses by surprise, one of these is worker retention and recruitment.

Basically, B Corps get first pick of the best talent, they retain existing staff longer, and staff are more engaged and productive.

We call this the B Corp ROI double whammy. There are many other surprise benefits of B Corp certification that we’ll cover in other posts. For this post, we’re looking at the ROI of B Corp on Recruitment and Retention.

Here’s what people say about working at a B Corp…

“Working for this organization marks the first time in my career where I’ve truly felt like my identity and values are embodied in the way in which my employer does business.”

“It feels like I’m just so much more than the work that I produce, and I’m valued for more than that.”

“As a team member, I feel more like a living creature who is cared about and working toward a common goal as opposed to a cog that is just working to meet the bottom line.”

While the reasons why people appreciate working at a Certified B Corporation differ by individual, they reflect the same guiding principle: Businesses that value the people who power their operations and, in turn, operate with their benefit in mind as well. It’s all part of the framework that businesses adopt when they go through B Corp Certification and legally commit to consider the impact of their decisions on their stakeholders: workers, customers, suppliers, community, and the environment.

Here’s how B Corp certification can positively impact worker satisfaction and retention:

  1. Mission Alignment:
    • B Corps are committed to balancing profit with social and environmental responsibility. Employees often find greater job satisfaction when they work for a company that aligns with their personal values and contributes to a positive impact on society and the environment.
  2. Employee Engagement:
    • B Corps often prioritize employee engagement initiatives. They create a sense of purpose and community by involving employees in decision-making processes and social responsibility projects. This engagement can enhance job satisfaction and create a positive workplace culture.
  3. Fair and Inclusive Practices:
    • B Corps typically prioritize fair and inclusive practices, ensuring diversity and equal opportunities for all employees. Such practices contribute to a positive work environment, fostering a sense of belonging and satisfaction among workers.
  4. Work-Life Balance:
    • B Corps often emphasize the importance of work-life balance, recognizing that a healthy balance contributes to employee well-being. This focus can positively impact job satisfaction and contribute to employee retention by reducing burnout and stress.
  5. Transparent Communication:
    • B Corps are required to maintain transparency in their operations. Transparent communication fosters trust between employees and the company. When employees feel that they are well-informed and part of the decision-making process, it can contribute to higher job satisfaction.
  6. Investment in Employee Development:
    • B Corps often invest in the professional development and well-being of their employees. Providing opportunities for skill enhancement and personal growth can enhance job satisfaction and make employees more likely to stay with the company.
  7. Positive Brand Image:
    • B Corp certification enhances a company’s reputation as a socially responsible and ethical business. This positive brand image can contribute to a sense of pride among employees, increasing job satisfaction and potentially improving retention rates.
  8. Competitive Advantage in Talent Acquisition:
    • B Corp certification can make a company more attractive to potential employees who prioritize working for socially and environmentally responsible organizations. This can help in attracting top talent, contributing to higher job satisfaction and retention.

In summary, B Corp certification can positively influence worker satisfaction and retention by fostering a values-driven culture, promoting employee engagement, and implementing fair and inclusive practices. The emphasis on transparency, employee development, and a positive brand image further contributes to creating a workplace where employees are more likely to stay and thrive.

Is your organisation ready to B Corp?

Certified B Corps are a new form of business that seeks to value people and planet while making as much profit as possible.

If you think B Corp might be for you, check out our free e-book2B Or Not 2B: The What, Why & How Of B Corp Certificationhere.

How B Corps outperform other businesses

How do B Corps compare with other businesses?

It’s a question we get asked a lot around here at Grow Good.

But what people really want to know is, do B Corps make more money that ‘business as usual’ companies?

The answer is, overall, that’s a big YES. Numerous studies have shown that B Corps financially outperform their ordinary business counterparts.

Many studies have been done on this now and data from recent years shows that, overall, B Corps see higher revenue growth than their non-B Corp ‘business as usual’ peers.

A new paper by the Insights team at B Lab, summarises the vast data on revenue and headcount growth from the B Impact Assessment (BIA); a comparative international study of economic survival during the COVID-19 pandemic; and a literature review, delivering important findings. The report is called ‘Financial Performance and Resilience of B Corps’ and it asks: ‘how do B Corps compare to other businesses?’

To answer that question, B Lab analysed three sources: data on revenue and headcount growth from the BIA; a comparative international study of economic survival during the COVID-19 pandemic; and a literature review.

They found:

  • Higher Revenue Growth: B Corps globally were more likely to increase revenue.
    • Between the years 2019 and 2020, 79% of B Corps experienced an increase in revenue, while 54% of Ordinary Businesses demonstrated a revenue increase.
    • Between the years 2020 and 2021, those numbers were 85% and 61% respectfully.
    • Overall, B Corps’ revenue increased by 25 percentage points between 2019 and 2020 and 23 percentage points between 2020 and 2021.
  • Better Economic Survival: B Corps are more likely to survive tough times.
    • From 2019 to Sept 2023, 95.6% of B Corps sampled were still active businesses, while only 87.8% of Ordinary Businesses in the sample were still active.
    • The difference between these two groups is 7.8%, with a p value of .0016; the result is significant at p < .01.
  • Higher Rates of Hiring: B Corps are more likely to hire new workers.
    • Across the world, B Corps are 1.62 times more likely to have increased their worker base by more than 25% over the last 12 months in comparison to ordinary businesses (40.1% of B Corps have).

In addition to B Lab’s own studies, several independent studies have found promising results in terms of the impact of B Corp Certification on revenue growth rate, as well as sales growth.  Paelman and colleagues (2021) note: “Our dataset allows us to study how the effects of B Corp certification [sic] evolve over time, which was previously untested. Our study documents a positive effect of B Corp certification on turnover growth and also that this effect increases with the time since certification, implying that certification requires some time for its full effect to become apparent.

It’s not necessarily an immediate effect though. Other studies do not find short-term financial gains after certification, especially for smaller companies (possibly because of the efforts required to certify).

In summary, if you want your business to be more resilient and make more money in the longer term, become a B Corp.

Does this mean that you should become a B Corp just to make more money? Well, you can but ideally, you’d also want to be part of a movement looking to transform the global economy to one that values people and planet just as much as profit. It might therefore seem ‘not very B Corp’ to be focussing on revenue growth at all.

But here’s the crux of it. In order to be a force for good in the world, B Corps need to be viable and profitable businesses. The more profitable a business is, the greater positive impact it can have on the world because money is a powerful changemaker. It bestows choices, freedoms, influence, and power. So let’s put more of it in the hands of people working to do good in the world.

💳 Download the Financial Performance and Resilience of B Corps paper now: https://infogram.com/1tgl93rr6z7d7df4xo1q6xv8d0ip86gl6lq

 

Become a B Corp

Are you more convinced that B Corp is right for you? Would you like to join the B Corp companies using business as a force for good? Here at Grow Good, we exist to coach people through the process of becoming B Corp certified.

The B Corp Impact Assessment framework  is free to access and provides dozens of useful insights and opportunities for any business but it can be confusing and overwhelming.

We are consultants who have completed the official training provided by B Lab, the organisation that runs the B Corp certification programme. We live, breathe and sleep B Corp. We are your friendly B Corp buddies. We make it easier. We translate the questions into plain English and give you a host of template policies and example documents so you don’t have to start everything from scratch or reinvent the wheel. We show you how to unlock the big point scoring areas most relevant to your business.

Are you ready to go B Corp? It’s completely your decision but if you are, and if you think it would be helpful to have a guiding hand through the process, we’re here to help. Drop us a line or jump straight in and book a free call here.

Yours in purpose,

Kia kaha,

Tamara

tamara@growgood.co

Should you B Corp?

If you’re in business, chances are you’ve already heard about B Corp certification. If so, you’ve probably wondered whether it’s the right thing for your company. You’ll most likely be asking yourself, ‘How will I benefit?’ and ‘Where do I even begin?’ Excellent questions! Let’s first address how your business could benefit and then we’ll tell you how to begin.

Currently there are almost 130 Kiwi businesses that have B Corp Certification. This includes big businesses like Ethique, Kathmandu, Chia Sisters, Kiwibank, ecostore, Synlait Milk, and Pic’s Peanut Butter but also plenty of small businesses like Twiice, Like-Minded Learning, Sustained Fun, Tax Traders, Soul Studio Hot Yoga, Two Islands, and many more.

Globally, the movement is growing at an exponential rate. As more businesses take the B Corp plunge, even more are weighing up the benefits of becoming B Corp certified. That’s why we’ve put together this short ‘why and how’ of B Corp because when it’s done right, sustainability and B Corp is a massive opportunity. Let’s start with six reasons why…

  1. Brand Loyalty

More shoppers are choosing ethical products and services. Many are prepared to pay more for sustainable brands. Millennials (80%) are almost twice as likely than Baby Boomers (48%) to pay more for sustainable products [Nielsen]. In the US, sales of products marketed as sustainable grew 5.6 times faster than other products from 2013 to 2018 [NYU Stern Center]

  1. Recruitment and retention

The best talent are choosing to work for companies that align with their values. As well, existing staff are engaged and retained for longer. 75% of millennials would take a smaller salary to work for a sustainable company [G&A Institute survey] while according to LinkedIn, demand for ‘green’ jobs has tripled.

  1. Cost savings

Businesses are finding significant cost savings from sustainable efficiencies and innovation. In one year, IBM saved $1.35 million from energy conservation initiatives. Interface Flooring saved $450 million by reducing/recycling its manufacturing waste from 1996 to 2013.

  1. Legislation-proofing

ESG regulation is coming thick and fast. Governments are mandating companies to align with a net-zero agenda through policy and legislation. As well, the growth of climate change-related litigation is becoming a risk which businesses of all types cannot afford to ignore.

  1. Access to capital

Increasingly, financiers, bankers, insurers and investors won’t work with companies that don’t have a sustainability strategy. CEO of BlackRock, the world’s largest asset manager, Larry Fink said: “There is no company whose business model won’t be profoundly affected by the transition to a net-zero economy.” Companies seeking investment with BlackRock must provide a plan for how their business model will be compatible with a net zero economy.

  1. It boosts your bottom-line

That’s right, you make more money. Overall, B Corps are outperforming their non-B Corp peers. This has been empirically studied by a European university that found that based on data from 2012 to 2018, European B Corps had higher turnover as a result of B Corp certification. As well, a US academic study found that businesses that got on the sustainability train enjoyed a nine per cent increase in sales.

That’s just a few of the B Corp benefits. For some NZ industries, including wine and honey, B Corp is quickly becoming the norm so before long businesses that aren’t B Corp in some industries will be standing out for the wrong reasons.

If you’re ready to strap on your B Corp boots, you can do it all yourself by logging onto www.BImpactAssessment.net, registering for a free account and then answering the 200 or so questions that are relevant for your business. Some businesses though, get stuck doing it by themselves. So you also have the option of hiring a B Corp consultant, like us here at Grow Good. We live, breathe, and sleep B Corp. We exist to help businesses get B Corp certified as quickly as possible and with the highest score possible. If you need a hand, give us a call – details below. Or if you just want some more information for now, click here.

Become a B Corp

Are you more convinced that B Corp is right for you? Would you like to join the B Corp companies using business as a force for good? Here at Grow Good, we exist to coach people through the process of becoming B Corp certified.

The B Corp Impact Assessment framework  is free to access and provides dozens of useful insights and opportunities for any business but it can be confusing and overwhelming.

We are consultants who have completed the official training provided by B Lab, the organisation that runs the B Corp certification programme. We live, breathe and sleep B Corp. We are your friendly B Corp buddies. We make it easier. We translate the questions into plain English and give you a host of template policies and example documents so you don’t have to start everything from scratch or reinvent the wheel. We show you how to unlock the big point scoring areas most relevant to your business.

Are you ready to go B Corp? It’s completely your decision but if you are, and if you think it would be helpful to have a guiding hand through the process, we’re here to help. Drop us a line or jump straight in and book a free call here.

Yours in purpose,

Kia kaha,

Tamara

tamara@growgood.co

Sustainability boosts sales by nine per cent

There is a mountain of surveys out there now that are telling businesses that if they up their game on sustainability, they will get more sales. The million-dollar question is, are the surveys correct? And it really is a million-dollar question. There’s a whole load of money at stake here (not to mention survival on Earth but don’t get me started…).

Because of course when we’re filling out a survey, most of us we will say ‘absolutely, yes, I buy sustainable brands over those that aren’t and yes, I will pay more for sustainability…’ but do we really do that when we’re standing in the supermarket getting our wallet out? [Or tapping our phones on the payment reader, for younger readers]. Equally, do we choose to shun brands that have had negative press on their social and environmental (E&S) performance?

To find out for sure, once and for all, a new and rigorous empirical study has been carried out by proper serious academics in the US. This comprehensive study set out to find out for sure whether, as shoppers, we really do put our money where our mouth is.

I’ll get straight to the point. Turns out we really, actually do. The results are in and sustainability really does drive a significant boost in sales but wait, there’s more…

SUSTAINABILITY BOOSTS SALES

This study, called Do Consumers Care About ESG? Evidence from Barcode-Level Sales Data, took the E&S ratings from third-party agencies of 192 firms with products in 886 product categories, sold in 2,641 US counties. It looked at the relationship between the E&S rating and sales from barcode data.

Now, crucially, the researchers were also able to control for other factors such as advertising and price in order to really hone in on the causal relationship between E&S and sales.

The findings were conclusive. ESG and corporate social responsibility does drive sales. The scientists stated that: “Our study provides direct evidence that E&S activities affect consumer demand–the cash flow channel of ESG.”

“Using granular barcode-level sales data from retail stores, we show that environmental and social ratings are positively related to local sales… The granularity of our data enables us to compare very similar products sold in the same location at the same time by companies with different levels of E&S activities.”

THE DIFFERENCE ESG MAKES

Okay great, but how much difference does it make? How much more sales does a brand drive when it gets serious on sustainability? On average, the study found that E&S drives a nine per cent increase in sales.

“Based on our estimates, a one-standard-deviation increase in the owner’s E&S rating is related to an increase in sales of 9.2% in the subsequent year for the average product sold in the same county,” the scientists stated (they go into a lot more detail in the report that you can download here).

Of course, a word of caution, this is an ‘on average’ figure. It depends on all sorts of variables such as the type of product, socio-economic factors, etc. But still, it’s a guide.

SALES SLUMP AFTER BAD ESG PRESS

The study also found that if your market competitor has a higher E&S rating, it will negatively affect your sales. In other words, your competition will see their sales climb at the expense of your sales dropping.

As well, the study found that sales decline for a firm that receives negative press on E&S issues.

Finally, the study also found that immediately after major natural and environmental disasters, sales in areas located close to the disasters become more sensitive to environmental ratings.

So, let’s sum that up.

  • If you get serious on your ESG (you know, like becoming a B Corp), your sales will increase by an average of nine per cent.
  • If you don’t do anything about ESG but your market competitors do (you know, like becoming a B Corp), their sales will lift and yours will decline.
  • If you get any bad ESG press, your sales will slump.
  • If you’re in an area that experiences any extreme weather or natural disaster exacerbated by climate change, and your product doesn’t have good ESG, your sales could slump.

So what do you do? You take action on ESG. We think the best way to do this is by becoming B Corp Certified.

Become a B Corp

Are you more convinced that B Corp is right for you? Would you like to join the B Corp companies using business as a force for good? Here at Grow Good, we exist to coach people through the process of becoming B Corp certified.

The B Corp Impact Assessment framework  is free to access and provides dozens of useful insights and opportunities for any business but it can be confusing and overwhelming.

We are consultants who have completed the official training provided by B Lab, the organisation that runs the B Corp certification programme. We live, breathe and sleep B Corp. We are your friendly B Corp buddies. We make it easier. We translate the questions into plain English and give you a host of template policies and example documents so you don’t have to start everything from scratch or reinvent the wheel. We show you how to unlock the big point scoring areas most relevant to your business.

Are you ready to go B Corp? It’s completely your decision but if you are, and if you think it would be helpful to have a guiding hand through the process, we’re here to help. Drop us a line or jump straight in and book a free call here.

Yours in purpose,

Kia kaha,

Tamara

tamara@growgood.co

First South East Asian B Corp gets S$2m investment

Want another example of how the B Corp movement is redefining success in business?

Let’s look to Singapore for a moment, where speciality coffee business, Bettr Group, has just won investment of S$2 million from the Asia Impact First Fund (AIFF) to fund the next stage of its expansion such as growing its roastery, and funding its programmes that help marginalised communities.

Back in 2015, Bettr was the first company in South-east Asia to receive the B Corp certification. It’s still just one of six Singaporean B Corps. In a challenging climate for securing growth investment funding, this announcement shows that sustainability and B Corp certification can give businesses a major advantage. AIFF aims to provide growth capital to 10 to 15 social enterprises across Asia that have been proven to be financially sustainable and profitable. The AIFF fund is backed by impact investment platform Heritas Capital and DBS Foundation.

Founded in 2011, Bettr offers professional beverage education and owns a roastery that also sells coffee supplies. It also currently operates retail coffee bars in two businesses. The new funding round will enable the opening of retail coffee bars in more businesses, as well as fuel a venture into the business-to-consumer space to enhance its brand visibility in Singapore. With this expansion, Bettr will be able to hire more people from marginalised communities. Currently, 26 per cent of Bettr’s 50 employees are from marginalised backgrounds and comprise mostly graduates from its social programmes.

As an impact fund, the AIFF is not only interested in how much money Bettr makes. A key metric of how the fund will measure the impact of its investment in Bettr is to see the number of lives that have benefitted. A metric that aligns with the ethos of the B Corp impact assessment, where more points are awarded for evidence of positive impact. To date, 242 students have benefitted from Bettr’s social programmes, and 248 students have picked up coffee and emotional literacy skills via its early intervention programmes.

Certification as a B Corp is given by non-profit B Lab to for-profit companies that meet its standards of verified social and environmental performance, accountability and transparency.

Become a B Corp

Here at Grow Good, we exist to coach people through the process of becoming B Corp certified.

The B Corp Impact Assessment framework  is free to access and provides dozens of useful insights and opportunities for any business but it can be confusing and overwhelming.

We are consultants who have completed the official training provided by B Lab, the organisation that runs the B Corp certification programme. We live, breathe and sleep B Corp. We are your friendly B Corp buddies. We make it easier. We translate the questions into plain English and give you a host of template policies and example documents so you don’t have to start everything from scratch or reinvent the wheel. We show you how to unlock the big point scoring areas most relevant to your business.

Are you ready to go B Corp? It’s completely your decision but if you are, and if you think it would be helpful to have a guiding hand through the process, we’re here to help. Drop us a line or jump straight in and book a free call here – https://bit.ly/BookGGCall

Yours in purpose,

Ngā manaakitanga,

Tamara

tamara@growgood.co

 

Five actionable tips for getting B Corp certified

Okay, in the name of full transparency, we didn’t come up with the title of this blog. We were, um, ‘inspired’ by a Forbes article with a similar name. However! As full time B Corp consultants here at Grow Good, we’ve got a ton of experience and know-how in the area of getting a business B Corp certified so we are going to add to the conversation started by Forbes.

The five top tips outlined in the Forbes article are:

  1. Put sustainability practises in writing
  2. Use data to demonstrate performance
  3. Decide where to make a meaningful difference
  4. Give the team a voice in the decisions
  5. Don’t approach the application as a tick-box exercise

All excellent points! Perhaps though, in the wrong order. I think there’s a better way to navigate your B Corp journey. Jumping straight into writing documents is gonna break anyone’s spirit so this is why at Grow Good, we would recommend the following five steps.

  1. Get all your team engaged and excited: First, you’ve got to get everyone on the team up to speed and excited. It’s in line with the theory of getting everyone in the boat rowing in the same direction. This is why we start a new client off with what we call a ‘kick off session’, this is an hour’s workshop online or in person for your whole team, where we go through the what, why and how of the whole B Corp movement. By the end of it, everyone on your team understands what B Corp is and why you’re doing it. Most of all, they’re excited about being part of a global movement that’s actively driving transformation to a world where planet and people is valued as much as profit. This team buy-in is priceless and will not only make your certification process easier, it will reap benefits such as higher productivity and better staff retention.
  2. Make a meaningful commitment to stakeholder governance: One of the foundation stones of B Corp certification is the commitment a business makes to considering all stakeholders in business decisions. Whatever foundational document governs your business, be in a constitution or your Articles of Association (documents are different in different countries), update these documents to include the B Lab purpose and stakeholder clauses.
  3. Understand your impact: This one is a little bit like the Forbes’ number 3 ‘Decide where to make a meaningful difference’ but I think it’s better broken down into two points. Understanding your impact is often where a basic materiality assessment comes in. Now, the phrase ‘materiality assessment’ can make the average person feel afraid and confused. Don’t be. It’s just a fancy way of saying ‘what impact does your business have on the world, both positive and negative?’ And every business is unique in that. For example, if you’re a chocolate bar manufacturer in France, your impact priorities might be ensuring you’re sourcing your cacao from farmers that are paid properly and are farming in a way that regenerates the natural world, rather than reduces the habitat of native species. You might also consider your packaging materials. As well, the carbon footprint of your manufacturing and transportation. Obviously, if you’re an accountancy firm in Canada, or a web developer in Thailand, your impact is going to be very different from the chocolate maker.
  4. Lock in your priorities: No business is perfect and no business can tackle everything at once. That would be overwhelming. You may want to clean up the oceans, get to net zero, drive social justice, get all staff on a living wage, boost biodiversity, get rid of all plastics in your products, reduce waste to landfill… and 101 other things but you probably can’t do it all at once. So, once you’ve assessed where your business is having its most impact – and where it can have its most positive impact – what is your team most psyched to set goals on first? And your goals might be phased, eg, ‘reduce carbon emissions by 20 per cent in the next 3 years…’
  5. Measure, monitor, mitigate: You can’t manage what you can’t measure. Once you’ve set your goals, set up the documentation that will enable you to track your performance over time. B Corp certification is all about evidencing the positive impact you’re having. Robust documentation is key. Critical! A deal breaker! I cannot stress enough about your B Corp certification being dependent on your being able to show exactly how you are increasing your positive impact with data. At Grow Good, we give our clients heaps of help with this, from recommending online tracking platforms (eg, Carbontrail, CarbonClick) to providing access to our library of more than 300 policy templates, tracker examples and much more, all designed to make your certification journey that bit easier.

So, that’s about it. If we were to add a sixth point to this list, it would be ‘Hire a B Corp consultant to help you through the process’. Like us. Obviously. It’s your choice, it’s totally up to you, far be it from me… etc etc but we think becoming a B Corp is something every business should do. Imagine the world we could build if that happened. A world where doing business regenerates the environment and drives social justice.

Become a B Corp

Here at Grow Good, we exist to coach people through the process of becoming B Corp certified.

The B Corp Impact Assessment framework  is free to access and provides dozens of useful insights and opportunities for any business but it can be confusing and overwhelming.

We are consultants who have completed the official training provided by B Lab, the organisation that runs the B Corp certification programme. We live, breathe and sleep B Corp. We are your friendly B Corp buddies. We make it easier. We translate the questions into plain English and give you a host of template policies and example documents so you don’t have to start everything from scratch or reinvent the wheel. We show you how to unlock the big point scoring areas most relevant to your business.

Are you ready to go B Corp? It’s completely your decision but if you are, and if you think it would be helpful to have a guiding hand through the process, we’re here to help. Drop us a line or jump straight in and book a free 30 min discovery call with me.

Yours in purpose,

Ngā manaakitanga,

Tamara

tamara@growgood.co

 

Why aren’t humans urgently addressing the climate crisis? We ask ChattyG

This post is the follow up to last week’s called Can AI Solve The Climate Crisis? We Ask ChattyG.
Because it turns out that ChattyG (aka ChatGPT or AI) has an excellent plan for reversing the climate emergency that is now threatening to bring about the extinction of all life on Earth. I mean, isn’t that the best news ever? We can solve the climate crisis! Oh wait, so if we have everything we need right now to sort this out, it begs the next question, why aren’t we doing it?
If we know all too well what needs to be done, why isn’t every nation on the planet pulling together and taking urgent, cohesive and galvanised action around this one single focus? Which is saving ourselves. Surely nothing else matters right now? Everything else is trivial in comparison. There are no jobs on a dead planet, no share markets, no businesses, schools, universities, hospitals, and so on. Yet what are politicians focusing on (particularly here in Aotearoa NZ in the run up to an election)? They’re campaigning on things like how they’re going to fix pot holes in the roads. It’s like arguing in the kitchen of a burning house about whether to have a floral or striped tablecloth.
In the face of such bewildering… what? Stupidity? Delusion? Denial? Inadequacy? (you choose) on the part of our human ‘leaders’, let’s once again ask ChattyG the big question: Why aren’t humans acting quickly enough to address the climate crisis?
Here’s what ChattyG had to say: The question of why humans aren’t acting quickly enough to address the climate crisis is complex and multifaceted. Several factors contribute to the relatively slow response to this urgent global issue:
  1. Lack of Awareness: Many people may not fully understand the gravity of the climate crisis, its immediate impacts, or its long-term consequences. Raising awareness and educating the public about climate change is crucial to drive action.
  2. Economic Interests: Fossil fuel industries and other sectors heavily invested in the status quo often resist change because transitioning to more sustainable practices can be economically challenging in the short term. This economic inertia can slow down progress.
  3. Political Obstacles: Climate policies can be highly divisive, with political leaders sometimes prioritising short-term interests or re-election campaigns over long-term environmental concerns. In some cases, climate denial or skepticism has played a role in delaying action.
  4. Global Coordination: Climate change is a global issue that requires international cooperation. Negotiating and implementing effective global agreements, such as the Paris Agreement, can be slow and challenging due to differing national interests.
  5. Psychological Distance: Some people perceive climate change as a distant or abstract issue, believing it won’t significantly affect them personally. This psychological distance can lead to inaction.
  6. Inequality: Vulnerable communities often bear the brunt of climate change’s effects, while those with more resources may feel less urgency to act. Addressing social and economic inequalities is intertwined with addressing the climate crisis.
  7. Technological and Infrastructural Challenges: Transitioning to renewable energy and sustainable practices often requires significant technological advancements and infrastructure changes, which can be time-consuming and costly.
  8. Human Nature: Humans are generally resistant to change, especially when it disrupts established habits and lifestyles. People may resist adopting more sustainable behaviours due to comfort, convenience, or inertia.
  9. Short-Term Focus: Many decision-makers prioritize short-term gains over long-term benefits. However, addressing climate change requires a long-term perspective that values sustainability over immediate profit.
  10. Complexity: Climate change is a highly complex issue with interconnected causes and consequences. Finding effective solutions requires navigating this complexity and implementing a wide range of policies and actions.

It’s essential to recognize that progress is being made, and there are efforts at various levels to address the climate crisis. However, the urgency of the issue calls for accelerated action, increased public awareness, political will, and widespread cooperation on a global scale. Overcoming these challenges and acting swiftly to mitigate and adapt to climate change remains one of humanity’s greatest collective tests.

I think ChattyG’s final pragmatic paragraph is a lovely way to end… it offers some hope: “It’s essential to recognize that progress is being made…” Yes. There are a lot of very determined people with brilliant minds who are working hard on this issue (sadly, few of them are politicians). Progress is being made and it is gaining momentum.

ChattyG also calls out the need for “widespread co-operation on a global scale”. This is the very reason I am a champion of the B Corp movement. B Corp is a global community of businesses that are seeking to transform our global economic system to one that values people and planet in equal measure to profit. Certified B Corps have made a commitment to no longer sacrifice people and planet for the sake of financial profit. Happily, they’re usually much more profitable for doing so, proving that true prosperity is when everybody wins – not just the one per cent.

The quicker we have a collective mindset shift on the real meaning of ‘success’ and redefine our ideas on this, the quicker we can harness the power, creativity, and innovation of the business sector to work on solving the climate crisis, rather than driving it.

Become a B Corp

Here at Grow Good, we exist to coach people through the process of becoming B Corp certified.

The B Corp Impact Assessment framework  is free to access and provides dozens of useful insights and opportunities for any business but it can be confusing and overwhelming.

We are consultants who have completed the official training provided by B Lab, the organisation that runs the B Corp certification programme. We live, breathe and sleep B Corp. We are your friendly B Corp buddies. We make it easier. We translate the questions into plain English and give you a host of template policies and example documents so you don’t have to start everything from scratch or reinvent the wheel. We show you how to unlock the big point scoring areas most relevant to your business.

Are you ready to go B Corp? It’s completely your decision but if you are, and if you think it would be helpful to have a guiding hand through the process, we’re here to help. Drop us a line or jump straight in and book a free 30 min discovery call with me.

Yours in purpose,

Ngā manaakitanga,

Tamara

tamara@growgood.co