B Corp Certification is based on three essential pillars: verifies social and environmental performance, public transparency, and legal accountability. Alone, none of these pillars are succinct. It's the combination of all three that makes the B Corp Certification unique, credible and significant.
Verified Social and Environmental Performace: his ensures that B Corps walk the talk. To meet the performance requirement, a company must earn a minimum, verified score of 80 points on the B Impact Assessment, which examines a company’s overall impact on its workers, community, customers, and environment.
Legal Accountability: By meeting the legal requirement for certification, B Corps are better able to maintain mission as they scale, have more flexibility when evaluating future sale options, and are better prepared to lead a mission-driven life post-IPO.
Public Transparency: Transparency builds trust. Once certified, each B Corp must make it's Impact Report transparent on B corporation.net, allowing the public to see the areas in which specific companies excel and compare B Corps' scores against the performance of mainstream businesses.
How long does it take to certify?
For most small businesses, the B Impact Assessment takes between 1-3 hours to complete a rough baseline. The time involved largely depends on the size, age, and complexity (e.g. number of operating locations) of your company. For larger companies, completing the assessment usually takes a few weeks to complete, including time to collect information from other members on your team. For your convenience, the assessment can be saved and revisited at any time to allow for easy access. B Lab strongly recommends that companies estimate answers the first time through (and mark questions as "Revisit This" as needed). The B Lab team will work with you to identify which questions need further documentation, so don't get too caught up on getting it perfect the first time through. Once your assessment is complete, the verification process typically takes between 4 and 8 weeks to complete.
Interested in becoming a B Corp? Check out "The Path To B Corp Certification" webinar and our website for more resources.