We’re excited to announce that the draft standards for evolving B Corp Certification were released yesterday. The new standards will come into effect in 2024 and now’s the time to have your say in their development. The draft is available for B Corp and public consultation until 15 November and there’s a bit there to unpack.
There’ll be 10 short videos, one on each topic, landing in this thread over the coming weeks. We hope that these videos will help you shape the next chapter of our collective story.
To kick us off here’s a 3-min introductory video to whet your appetite.
We’ve also prepared some goodies to support you including why your voice means everything to this work and to enhance your understanding of where this effort fits into the B Corp Movement.
Have your say and you just might find yourself better equipped for recertification in 2024 and beyond. We can’t wait to hear what you think!
The first Draft Standard we will be exploring is Purpose & Stakeholder Governance. Check out this short explainer video for more details including questions to consider when providing feedback about this topic.
The next Draft Standard we’re exploring is Worker Engagement. The draft standards
define worker engagement as the degree to which a worker feels a positive connection with
their job and work environment, specifically in relation to their motivation, commitment and
satisfaction, and sense of shared purpose.
Watch the explainer video here.
Today’s video will focus on ‘Fair Wages’. The intended outcome of this draft standard is that workers are able to afford a decent standard of living for themselves and their families, and there is wage equality among them.
Watch the Fair Wages explainer video here.
Next up, we’re discussing Justice, Equity, Diversity & Inclusion (JEDI). From the perspective of these draft standards, this topic calls out past and ongoing systems that perpetuate and worsen inequality among systematically disadvantaged groups, creating the need for organisations to have specific and intentional plans to address these issues both in their own operations and their value chains.
Watch the JEDI explainer video here.
The draft standards for the Human Rights topic are based on the UN Guiding Principles for
Business and Human Rights. Their premise is that companies have the responsibility to
respect human rights by managing real/potential negative impacts and pursuing positive
impacts. The starting point for all companies is to understand how their operations affect
Watch the Human Rights explainer video here.
The intended outcome of the Climate Action draft standards is that B Corps take action in
accordance with the science to combat climate change and its impacts. This topic covers
an organisation’s entire value chain, and all people and communities affected directly or
indirectly. The standard lists specific requirements that must be met by all organisations
seeking B Corp certification.
Watch the Climate Action explainer video here.
The intended outcome of the Circularity and Environmental Stewardship draft standards is that B Corps demonstrate environmental stewardship and contribute to the circular economy in their operations and value chain, minimising any negative impact and pursuing positive impact. There are some specific requirements under this topic that must be met by all organisations seeking B Corp Certification.
Watch the Circularity & Environmental Stewardship explainer video here.
The Collective Action topic is designed to ensure that B Corps play a leadership role in fostering shared understanding, solutions, and implementation towards an equitable, inclusive and regenerative economy. There is one specific requirement for all companies to take joint action with other stakeholders to advance positive collective social and/or environmental impact at policy, industry and/or business community level. Curious about how this standard might apply to you?
Watch the Collective Action explainer video here.
The next topic we’d like to highlight is Impact Management. This topic draws heavily on the B Impact Assessment. Its intended outcome is that B Corps comprehensively identify and measure the impacts of their business and improve on those impacts over time. There are separate requirements in this topic for companies with either more or less than 10 points in IBM(s) that are important for all B Corps to be across.
Watch the Impact Management explainer video here.
Many B Corps are known for their leadership in positive impacts on stakeholders. But what happens when it comes to real or potential negative impacts? The final topic of Risk Standards seeks to ensure that B Corps avoid, manage, and/or effectively respond to specific potential negative impacts associated with particular industries or practices, as well as existing or emergent concerns from their stakeholders. This topic is central to the evolution of the standards and can make or break a company’s eligibility to certify, or to remain certified.
Watch the Risk Standards explainer video here.