What is a B Corp Certification: Everything You Need to Know

By now, most businesses are aware of the social and environmental impact they have and are taking an active approach in how they can monitor and improve this for the better. The B Corp certification was created as a way to measure and encourage responsible business.

Businesses across 161 industries are striving to ascertain this certification, and the flexible office sector is no different, as the impact of where we work is considerably important to sustainably-conscious organisations. Below we explore what it means to be B Corp certified, the accreditation process, and outline some of the benefits and challenges involved.

If your business is seeking a new office space, our portfolio contains a diverse range of options from providers across the world, including those with B Corp status.

What is a B Corp Certification?

By now, most businesses are aware of the social and environmental impact they have and are taking an active approach in how they can monitor and improve this for the better. The B Corp certification was created as a way to measure and encourage responsible business.

Businesses across 161 industries are striving to ascertain this certification, and the flexible office sector is no different, as the impact of where we work is considerably important to sustainably-conscious organisations. Below we explore what it means to be B Corp certified, the accreditation process, and outline some of the benefits and challenges involved.

If your business is seeking a new office space, our portfolio contains a diverse range of options from providers across the world, including offices with B Corp status.

What does B Corp certification mean?

The B Corp certification measures a business’ social and environmental impact across a range of categories including governance, workers, community, sustainability and customers. The non-profit organisation that administers the B Corp certification, B Lab, is a non-profit network of organisations striving to empower businesses to have a positive impact on the world.

The accreditation aims to shift the type of corporate governance away from solely focusing on shareholders and places more emphasis on the interests of all of their stakeholders, including employees, customers, wider communities, the environment and investors.

 Difference between B Corps and benefit corporations

Ultimately the primary difference between a B Corp and a benefit corporation is that the latter is a legal structure that encompasses stakeholder governance into the core of the business, whereas B Corps can be any for-profit organisation that has been assessed and certified by B Lab. Whilst with Benefit Corporations the structural change is permanent, B Corp status is regularly assessed by B Lab and can be removed if the latest standards are not met.

What are the benefits of being B Corp certified?

• Aligning company values - Becoming B Corp certified is a great way to clearly define your company values against measurable criteria
• Attracts potential employees - For many people, working for a socially conscious organisation that is taking active steps to improve its impact is very appealing and can help attract top talent
• Differentiate from competitors - Being B Corp certified is a clear USP and for flexible office operators, a way to separate themselves from other operators without this certification
• Employees can access B Hive once the company is certified - B Hive is an online platform offering exclusive discounts to members and the opportunity to connect with other B Corp organisations on a global level
• Opportunity to work with other B Corp businesses - With access to the B Corp network there is ample opportunity to connect and collaborate with other businesses with the accreditation on a global level
• Access to B Corp marketing assets - Being able to communicate publicly about the B Corp certification is important, and once accredited you’ll have access to an array of assets for marketing purposes.

What are some of the challenges to becoming B Corp certified?

Whilst the benefits of becoming B Corp certified undoubtedly outweigh the drawbacks, there are some challenges to consider before taking the plunge.

• Lengthy process to obtain certification - The process to gaining the certification is rigorous and time-consuming. It is a comprehensive assessment and requires alignment against all of the criteria
• Higher levels of scrutiny for the business - Once you receive the certification it is reviewed every 3 years by B Lab upon completion of the B Impact Assessment. Given the impact assessment is updated every 3 years, it’s essential that your organisation stays up to date with the latest best practice
• Higher costs can incur - There is a cost involved when changing corporate structure, which for small businesses in particular can pose more of a challenge.

How do you become a certified B Corp?

The certification is gained through a 3-step process:

1. Complete an impact assessment, which must score over 80 points
2. Make a legal commitment to update corporate governance structure
3. Demonstrate transparency by publicly showcasing their performance on B Lab’s website

Once a business has become B Corp certified, they must re-verify their status every 3 years. 

Are flexible office space operators becoming B Corp certified?

A number of flexible office operators have gained the B Corp certification, which is a clear sign that the sector is moving towards more sustainable practices and actively addressing their contribution to the wider community. For occupiers that are interested in becoming B Corp certified, being partnered with a flex office operator that is certified can help throughout the journey.

Operators including x+why, Uncommon, Work.life, Huckletree and Runway East are just a few examples of B Corp certified operators.

Want to find out more about flexible offices with the B Corp certification? Speak to our team of experts or read more on sustainability within the sector.