To become a B Corp a business must follow an in-depth process:
- There is no limit on the size of a business on who can become a B Corp, as long as the business has been operating for a minimum of 12 months. Any business, regardless of size, can apply.
- Businesses must complete the B Impact Assessment (BIA) and score a of minimum 80 out of 200. This assessment measures the business’s performance in areas such as ESG.
- B Lab will then review the business’s application and dive deeper into the business’s impact on society and the environment, which either puts them on track on becoming B Corp certified or not.
- A key step in becoming certified involves amending the business’s existing legal structure. Businesses must get legal advice on how to realign their legal structure in accordance with the B Corp standards. Once a business does this, they can acquire a further 10 points towards their B Impact Assessment.
- There is a submission and verification fee included during this process, and then a further annual fee for being a member of the B Corp community.
- After these steps, the B Lab will decide whether to grant the B Corp certification. If awarded, they will have to reverify every three years to maintain the certification. This process involves completing the full process over again, to ensure ongoing commitment to the high standards of social and environmental responsibility.
