Latest news with #BImpactAssessment
Yahoo
09-04-2025
- Business
- Yahoo
B Lab sets out new B Corp standards
B Lab, the non-profit organisation responsible for B Corp certification, has unveiled new standards. Described as the 'most significant evolution' since B Lab's founding in 2006, the updated B Corp standards include the adoption of climate action plans aligned with the 1.5°C goal. "As the climate crisis intensifies and societal inequality grows, the standards provide companies with clarity on how they can take meaningful and tangible action on issues facing people and the planet," B Lab said. According to the organisation, nearly 10,000 companies across 100 countries and 160 industries hold B Corp status. However, the scheme had faced criticism. Last month, UK pet-food business Scrumbles went public with its decision not to renew its certification. In a post on LinkedIn, co-founder Aneisha Soobroyen wrote: "While we were proud to be one of the first pet food brands to certify in 2019, the certification no longer holds the weight it once did. It has started to feel like little more than a marketing badge and greenwashing rather than a true mark of ethical business." Just Drinks asked B Lab for its position on those comments. In the statement announcing the new standards, Clay Brown, co-lead executive of B Lab Global, called the new standards 'a complete reimagining of business impact to respond to the challenges of our time'. Previously, companies seeking certification underwent an assessment process involving a 'B Impact' assessment form, which evaluated their environmental, worker, material, community, and governance practices. To achieve certification, a company needed to score 80 or above out of 200. To maintain certification, B Lab mandates that companies re-certify every three years by completing a 'B Impact Assessment' and submitting documentation for evaluation. The updated framework introduces a shift from scoring to meeting baseline performance requirements across seven key 'impact topics': purpose and stakeholder governance; climate action; human rights; fair work; environmental stewardship and circularity; justice, equity, diversity, and inclusion; and government affairs and collective action. Judy Rodrigues, B Lab Global's director of standards, explained the update follows a four-year process involving two rounds of public consultation and the review of 26,000 feedback submissions from companies, the general public, and subject-matter experts. She added: 'We are confident that the new standards are clear, ambitious, and truly capable of raising the bar for businesses worldwide.' The seventh version of the standards also introduces differentiation based on company size. Larger companies – defined as having between 250 and 999 employees or $75m to $350m in annual revenue – face more rigorous requirements. Companies with 1,000 to 9,999 employees, or $350m to $1.5bn in annual revenue, are subject to even stricter criteria. According to a statement on B Lab's website, larger companies 'generally have to answer more (and more difficult) questions and meet higher requirements for verification, transparency, and additional factors in order to certify'. On LinkedIn, Emma Aberg of UK-based consultancy Greenheart, backed the update, saying: 'This is really great news in my opinion as it keeps B Corps where they should be; a true force for good in the world and the business leaders shaping our path towards a sustainable and regenerative future.' South African wine group Journey's End has recently signed up to the scheme. The company welcomed the new B Corp standards. 'As South Africa's first B Corp certified winery, we're proud to set the standard for our industry – this evolution of the B Corp framework affirms our conviction that excellence and ethics must go hand in hand,' Stephanie von Oppell, the global head of marketing at Journey's End, said. "B Lab sets out new B Corp standards " was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
31-01-2025
- Business
- Yahoo
EcoPlum Sustainable Swag® Scores First Recertification as a B Corporation
NEW YORK, Jan. 31, 2025 /PRNewswire/ -- EcoPlum, a sustainable promotional products company, is proud to announce its recertification as a B Corporation (B Corp) by nonprofit B Lab for its second three-year period. First certified in 2022, the newly recertified B Corp improved its B Impact Assessment (BIA) score. As a B Corp, EcoPlum is part of a global community of businesses that meet high standards of social and environmental responsibility, make a legal commitment to stakeholder governance, and demonstrate accountability and transparency by disclosing their record of performance in a public B Corp profile. There are currently 9,500 Certified B Corporations in more than 105 countries and over 160 industries. EcoPlum and other B Corporations are leading a global movement for an inclusive, equitable, and regenerative economy. Within the $26 billion promotional products industry, EcoPlum represents a small, but growing segment of sustainable distributors making up about $3 billion (12%) in revenue, according to PPAI (Promotional Products Association International). The majority of B Corps are small to medium-sized businesses. But there are many well-known global brands in the B Corp community including Danone, Patagonia, Athleta, Eileen Fisher, Ben & Jerry's, Warby Parker, and AllBirds. B Corporations are required to recertify every three years by updating their B Impact Assessment (BIA) and verifying their new BIA score. EcoPlum attained a score of 86.4, an increase of 3.8 points over its prior certification score. The principle of continuous improvement is integrated into the process and companies are encouraged to set goals and continue implementing improvements to their social and environmental practices. Companies must receive a minimum verified score of 80 or above to be certified. While more than 200,000 businesses have used the B Impact Assessment, only about 5% have been certified, including EcoPlum. The median score for ordinary businesses that complete the assessment is 50.9. B Lab began certifying companies in 2007. "Recertifying EcoPlum as a B Corp is another major milestone that reinforces our commitment to using business as a force for good to create a more sustainable planet! " says Gia Machlin, EcoPlum President and CEO. All Certified B Corporations balance profit with purpose and work towards a collective vision of Business as a Force for Good. They consider their impact on all stakeholders, not just shareholders. A B Corp is legally accountable, in its corporate governance structure, to consider employees, customers, suppliers, community, the environment, and shareholders in its decision making. B Lab's recertification of EcoPlum as a B Corp is the latest certification milestone held by the company. EcoPlum also holds an EcoVadis Silver Medal environmental certification and is a Green America Gold Business. Plus, the company is triple-certified as a women-owned enterprise by the Women's Business Enterprise National Council (WBENC), New York State (NYS MWBE) and New York City (M/WBE). The company is also a member of ASBN (American Sustainable Business Network), AASHE (Association for the Advancement of Sustainability in Higher Education), FLA (Fair Labor Association), PPC (Plastic Pollution Coalition), and ASI (Advertising Specialty Institute). About EcoPlum EcoPlum is a nationally certified B Corporation that provides branded marketing solutions with its Sustainable Swag® line of promotional products. We curate best-in-class, eco-friendly gift items and customize them for clients with their logos, taglines, or messages. EcoPlum empowers companies to make responsible choices on their branded gifts – a visible symbol of their values – with a goal of reducing plastic and harmful waste in our landfills and oceans. The company upholds rigorous and transparent standards for ecological and social sustainability. Our product sourcing criteria include USDA organic, fair trade, biodegradable, renewable, recycled, reusable, Made-in-the-USA, handcrafted or artisan, and third-party eco-labels. We also seek out suppliers that are certified B Corporations (B Corps), women/minority-owned, socially conscious, and Fair Labor Association (FLA) members. Sustainable Swag® solutions at For more information: info(at)ecoplum(dot)com, Facebook at LinkedIn at EcoPlum Biz Blog, Twitter via @ecoplum, and Instagram via @ecoplum. About B LabB Lab is transforming the global economy to benefit all people, communities, and the planet. A leader in economic systems change, our global network creates standards, policies, tools, and programs for business, and we certify companies—known as B Corps—who are leading the way. To date, our community includes more than 900,000 workers in over 9,500 B Corps across 105 countries and 160 industries, and more than 200,000 companies manage their impact with the B Impact Assessment and the SDG Action Manager. About B Lab U.S. & Canada B Lab U.S. & Canada is a partner in the B Global Network, a unified group of global, regional, and national organizations that power a business movement as a force for good. A historic global culture shift is underway to harness the power of business to help address society's greatest challenges. Our global network creates standards, policies, tools, and programs that shift the behavior, culture, and structure of capitalism. B Lab certifies companies — known as B Corps — who are leading the way. Our vision is an inclusive, equitable, and regenerative economic system for all people and the planet. For more information, visit About B Corp CertificationB Corp Certification assesses the overall social and environmental impact of a company. To achieve B Corp Certification, a company must meet a score of at least 80 points in the B Impact Assessment, an evaluation of a company's positive impact, and pass a risk review, an evaluation of a company's negative impact. It must change its corporate governance structure to be accountable to all stakeholders, not just shareholders, and exhibit transparency by allowing information about their B Corp Certification performance to be publicly available on their B Corp profile on B Lab's website. B Corps recertify every three years and, once certified, are expected to increase their score over time as they progress towards becoming more equitable, inclusive, and regenerative businesses. 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