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</html>";s:4:"text";s:16692:"These tools are simply to educate companies who are interested in incorporating as a benefit corporation in Arizona. 4. For the latest news and events about the community of Certified B Corporations, © Copyright 2021 B Lab. Companies with material items in their Disclosure Questionnaire or background check may be asked to make incremental information transparent on their online profile. Take and pass the B Impact Ratings System. Certifying as a B Corporation goes beyond product- or service-level certification. In order to maintain B Corporation certification, a company must update their assessment every three years, provide additional documentation to verify their answers, and achieve at least 80 out of 200 available points. Gives legal protection to directors and officers to consider the interests of all stakeholders, not just shareholders, when making decisions; Creates additional rights for shareholders to hold directors and officers accountable to consider these interests; and. The Site Review will take place either in-person or virtually and typically takes between 6-10 hours depending on the size and scope of business. Certification fees are calculated according to the revenue of your company and based on principles of inclusivity, transparency, and fairness. In certain cases, the company will be required to implement specific remedies to obtain or maintain the Certification, and in rare cases the company's Certification will be denied or revoked. Listed below are the fees for companies based in the United States and Canada. To finalize certification, sign the B Corp Declaration of Interdependence, sign your B Corp Agreement, and pay your annual certification fees. Aligning our company with B Lab and this powerful movement has been incredibly rewarding. B Corp Certification doesn’t just prove where your company excels now—it commits you to consider stakeholder impact for the long term by building it into your company’s legal structure. What is an Impact Business Model? Certified B Corps that are wholly-owned subsidiaries or public companies are subject to a mandatory on-site Site Review during each three-year certification term. For B Corporation certification, you must score at least 80 out of 200 points on the B Impact Assessment. The B Lab seal is not a legal requirement any more than BBB Membership is. There’s no better way to attract and engage mission-aligned talent than to verify your values with B Corp Certification. They make decisions that make a positive impact across their workers, customers, suppliers, community, and the environment. You can see the full pricing schedule on the Certification page. Earning a B Corp certificate is open to for-profit companies. The questions on your company’s B Impact Assessment are determined by company size, sector, and market, with around 200 questions total. Hire passion-aligned (and talented) people Talented young professionals are actively searching for … Fees vary by region. B Corp Certification is based in part on a company's verified performance on the B Impact Assessment, which asks questions about a company's past fiscal year. Public companies and wholly-owned subsidiaries are subject to additional transparency requirements. You must have JavaScript enabled to use this form. It's provided a credible basis to tell our story of how we are dedicated to healing the banking system for good. After completing the B Impact Assessment and Disclosure Questionnaire, click “Submit for Review.” After submitting your assessment, your company will undergo an initial Evaluation to determine the most appropriate certification process based on the individual characteristics of your business. Taking the Assessment... showed us where we needed to improve to become the role model we want to be. This information is self-reported, although each year B Labs randomly selects 10% of its certified companies for on-site review. Make sure your company is built on a solid legal foundation for the long term. How are the standards governed? All Certified B Corps must meet a legal accountability requirement to maintain Certification. The B Corp legal framework helps companies protect mission through capital raises and leadership changes and gives entrepreneurs and directors more flexibility when evaluating potential sale and liquidity options. For a summary of the Terms of Agreement, please see here. The B Corp movement is one of the most important of our lifetime, built on the simple fact that business impacts and serves more than just shareholders -- it has an equal responsibility to the community and to the planet. The time it takes to complete the assessment will vary based on your company's size and complexity. Use our Legal Requirement Tool to determine how your company can integrate stakeholder consideration into your governance structure. This is your complete guide to the performance, legal, and transparency requirements to become a Certified B Corp. Once companies meet all below requirements, they pay an annual Certification fee. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. *Starting October 1, pricing for US and Canadian markets will be in local currency with US companies paying in USD and Canadian companies in CAD. All rights reserved. The verification process to finalize a company's score typically takes from several weeks to a few months. The time it takes to complete the assessment will vary based on your company's size and complexity. For companies with more than 10 employees, there is a grace period for completing the legal requirement … Benefit corporations are often referred to as “b corps,” but it is important to make a distinction between a “b corp” and a Certified B Corp. A “b corp” is created under state law—in much the same was as any corporation. Along the way, you'll be able to set goals for improvement, compare your performance to similar companies, and learn best practices pulled straight from the Certified B Corp community. When your company certifies as a B Corporation, you join a community of business leaders who share your belief that business can solve social and environmental problems. B Corp Certification comes with additional considerations for certain businesses. This component of the B Corp Certification is critical in maintaining the credibility of the Certified B Corp seal. I no longer search for high-potential staff; they now come to me. The combination of third-party validation, public transparency, and legal accountability help Certified B Corps build trust and value. How does this relate to other impact measurement systems? The following is a step-by-step How-to Guide prepared by Drinker Biddle & Reath. The results of background checks undergo the same review process as items selected in the Disclosure Questionnaire. All legal matters should be consulted with a legal representative before any action is taken. B Corp wineries are investing in farmworkers, but some say it's still not enough. See Disclosure Questionnaire above for more information. Forty percent of B Lab’s expenses are covered via philanthropy with the remainder coming from earned revenue streams including B Corp Certification. As a bank, we often get perceived as a company that makes profits at the expense of people and the planet, but this certification has helped us differentiate ourselves and show how we are doing the exact opposite. The content of the B Impact Assessment is overseen by B Lab’s independent Standards Advisory Council. Your company may also be subject to additional costs depending on size and structure. If required, an Assessment Review call typically takes 60 to 90 minutes. **To learn more about B Lab’s approach to pricing for large companies, click here. A Certified B Corp is a company that has been certified by the non-profit organization B Lab.  Person at events, or both, for the latest news and events about the community of what is required to become a b corp B must. Annual Certification fees questions your company meets the 80-point bar for Certification to company operations to verification! 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