As of July 1st 2018, the Certified B Corporation term has changed from 2 to 3 years. The information below was put together to help clarify how this affects your certification.
- Who will be affected?
All companies due for recertification after July 1st, 2018 will go through the recertification process in 3 years instead of 2/now have a 3 year Certification term. If you are unsure when you are due for recertification, please refer to your most recent B Corp Welcome email. B Lab will also notify companies three months in advance of their recertification as a reminder.
Who is NOT immediately affected?
Any company who is/was due for recertification BEFORE July 1st, 2018 will still recertify as planned this year. Once certification is complete, companies will have 3 years until the next certification date.
Why did B Lab make this change?
We know how much effort the recertification process is for companies! A longer certification cycle will allow you to have more time to focus on pursuing and implementing improvements, along with enjoying the benefits of being a Certified B Corp.
We hope that this will alleviate the burden of the amount of resources needed when considering and planning for the recertification process, by allowing you an extra year.
The 3 year certification term is in alignment with B Lab’s Standards Development cycle and version changes updates are made to the B Impact Assessment.
A 3 year certification term more clearly aligns B Lab with other major certifiers and Standards organizations’ terms
What if my company was notified that we were selected a for Site Review?
If your company has been selected for a Virtual Site Review this year, but your recertification is after July 1st, you are not required to complete it until 2019. If you are currently working on your Site Review as part of recertification, you will have the opportunity to complete the certification now and once complete, have three years until your next recertification date. Due to the complex nature of planning & scheduling onsite visits, some of visits may still occur after July 1st. You should already have been notified if this is the case.
I signed a B Corp Agreement in the first part of 2018, will I have to do my recertification in two years?
Any B Corp Agreement signed with a 2 year term indicated, is still eligible for the new 3 year recertification term. During your next recertification, you will be issued an updated B Corp Agreement.
How can I engage with B Lab and my B Corp Certification?
Please use the B Hive to engage with other B Corps in the community. Did you know the B Hive is open to all employees of a Certified B Corp?
Check out your previously rated Assessment by logging into the B Impact Assessment platform to review improvements you would like to work on.
Join an upcoming webinar.
Join the Inclusive Economy Challenge and access related resources.
Attend (or host!) a B Local event or an upcoming regional Champion’s Retreat.
When should I expect to hear from B Lab?
B Lab will continue to contact the person in charge of your certification throughout your certification period to make sure we have your most up to date company information to keep in touch and best serve you. As always, we encourage you to keep in touch and stay connected by subscribing to our newsletters, checking out the B the Change page, following us on social media, and connecting virtually or in-person at events in your region.
How this will affect the annual fee?
In short,- this will not affect your annual certification fee. The annual fee is an important resource for B Lab as it creates opportunities to maintain and improve our B Impact Assessment and B Hive platforms, continue to serve a growing community of Certified B Corps, and to further the growth of the movement. B Lab will directly communicate any changes to the annual fee structure in our typical communications.
What if I am a wholly-owned subsidiary?
Since this change affects all Certified B Corps, wholly-owned subsidiaries will also be required to now recertify every 3 years. You will still be subject to terms for subsidiaries at that time, such as additional transparency requirements and a possible Site Review.
What if I have a change in control? Can I recertify at any point, if needed?
Yes, as expressed in the B Corp Agreement, in the event of a change of control of the Company, or an initial public offering of its securities (an “IPO”), the company should notify B Lab and commit to recertifying within 90 days. Companies have up to one year to complete the certification process from the effective date of the change of control or IPO.
Will this affect the Best for the World program?
We do not foresee this affecting the Best for the World program at this time.
What if I still have questions?
Please reach out to firstname.lastname@example.org for further assistance.