B Lab has launched a public consultation on B Corp standards starting from this week until 26 March 2024.
Through feedback from the consultation, B Lab will be able to understand if its latest draft is ambitious, clear and attainable for businesses globally to achieve B Corp certification.
B Lab Global director of standards Judy Rodrigues said: “Whether you are a sole proprietor or part of a large multinational corporation, your feedback in this second consultation is critical in shaping B Corp Certification and defining what business leadership means to be a force for good.”
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The latest draft of the standards is based on feedback from a preliminary consultation that took place in 2022 and elicited responses from more than 1,000 stakeholders, alongside research, expert interviews, and inputs from B Lab’s standards governing bodies.
It dives into more detail, sharing the specific performance requirements that companies must meet to become a Certified B Corp, along with helpful terms, compliance criteria, and implementation guidance, including:
- Specific performance requirements across a range of social, environmental, and governance standards topics – known as Impact Topics.
- Cross-cutting changes that tailor performance requirements according to company size, sector, and operating context.
- Clear, concrete performance requirements at recertification to demonstrate continuous improvement, ongoing compliance, and share progress on topic-specific goals.
- A new section of Foundation Requirements to assess eligibility to pursue certification, and identify those with Impact Business Models (IMBs) to qualify for recognition benefits.
