Why Your Business Should Consider Getting B Corp Certified: The Ultimate Guide

Clean Growth Fund shares why B Corp Certification matters and offers practical insights from their own certification journey.

In a world where consumers and employees alike are increasingly drawn to businesses that do good for the world, B Corp Certification has emerged as the gold standard for companies committed to balancing purpose and profit. If you’ve been thinking about how to make your business more sustainable, impactful, and trustworthy, getting B Corp certified might be the perfect next step.
 

What is B Corp Certification? 

B Corp Certification is awarded by B Lab, a global nonprofit organization, to companies that meet rigorous standards of social and environmental performance, accountability, and transparency. It’s not just about profits; it’s about people and the planet, too. Certified B Corporations (or B Corps) are leaders in the global movement for an inclusive, equitable, and regenerative economy.
 

Why Get B Corp Certified? The Business Case 

At Clean Growth Fund (CGF) we invest venture capital into technologies and teams with the ability to deliver significant carbon emissions reduction through clean growth. We felt that we should join like-minded environmentally and socially conscious organisations that were part of the B Corp Movement.

Since Clean Growth Fund proudly announced that we became B-Corp certified in June of this year, we have continued our mission to accelerate the transition to a net zero economy whilst contributing to the development of a sustainable society.

The process of becoming and maintaining the status as a B Corp can be a challenging but worthwhile endeavour. It requires a deep and ongoing commitment to standards and principles, and, as we found, may necessitate changes to the way you do things. Of course, there are several benefits to getting this prestigious badge such as:

1. Credibility and Trust: 
   B Corp Certification serves as a credible badge of honour that tells the world that your business is genuinely committed to social and environmental good. It’s not just a marketing gimmick; it’s third-party proof that your business meets high standards of accountability and transparency. 
2. Attraction and Retention of Mission aligned Talent:
   Today’s workforce wants to work for companies that reflect their values. A B Corp Certification has already helped us attract top talent who are looking to be part of something bigger than just a job.
3. Access to Capital & Consumer Loyalty:
   Our investors were delighted with our certification! More and more investors are seeking out companies with strong environmental, social, and governance (ESG) practices. B Corp Certification can make your business more attractive to these impact investors, potentially unlocking new funding opportunities. B Corp can also make you stand out to your customers in a saturated market. It’s easy to list out philanthropic adjectives and attach them to your brand, but the B Corp stamp is the real, third-party proof.
    

The CGF Journey 

For us, the certification process itself was one of the most valuable pieces. The assessment is split into 5 parts — Governance, Workers, Environment, Customers and Community. We had to demonstrate CGF has rigorous governance, looks after its employees, remains transparent with clients and actively tries to preserve the environment and helps make its community a better place. 

We were delighted when we found out that we scored highly in several areas, achieving a score of 133.8 vs. a ‘pass mark’ of 80, which puts us in the top 5 B Corps in Venture Capital and the number 1 highest scoring UK focussed VC.

However, despite our high score there is still plenty of room for improvement. At CGF, we discovered that the real value of the certification was in the process itself. Going through the B Corp process has made us think even deeper about how we operate in our immediate community and contribute to an equitable and sustainable society. The thorough, third party audited process and associated action plans sent us on a transformative path towards challenging ourselves to make sure that every aspect of our business was making an impact and contributing to as many UN SDG’s as we can - not just the climate ones. This has set our organisation on a wider impact mission. Here are just some examples of new initiatives we have spearhead since June: 

• Volunteer Work: We now make sure to take time to give back to the planet or community we are in- as a team and individually. We now volunteer as a team on at least a quarterly basis, for example, at the local Refuge Centre near our offices and the London Wetland Centre, which has now has the domino effect with some of our staff continuing the volunteering with their families over the weekend and even some of our advisors pairing up with us and joining in! We also offer our employees time off to volunteer, where they get paid leave to do any volunteering they wish. 
• Emissions Reductions: Despite having a negligible carbon footprint (our business emits less than 7 passenger vehicles per year!) we remain committed to becoming net zero by 2030 and have pushed ourselves further on this mission by setting more challenging targets to enhance our B Corp score even further next time. Each employee will now have an annual footprint reduction target that is part of their objectives and assessed as part of performance reviews. 
• Our Portfolio Companies: We are supporting our eco system to become B Corps, engage in volunteering activities and make an impact to our society while staying laser focussed on their climate mission. Indeed one company (Tepeo) has already done just that and has joined the B-Corp movement. We will even be holding a community volunteering event where all our portco’s can join. Many hands make lighter work when it comes to impact! 
   

How to Become a B Corporation 

If you want to become a B Corp, here’s how to make happen: 

• Take the B Impact Assessment. An evaluation of your company’s impact based on your answers to a questionnaire, with sections on your Governance, Workers, Community, Environment, and Customers. 

• Submit supporting documentation. If the results of your assessment look good, you’ll receive a request for further proof of the ethical practices you mentioned and be asked to schedule a review call with a member of the B Lab team. 

• Have a meeting with B Lab. Here, you’ll go over your documentation, clarify anything that’s unclear. 

• Submit some additional supporting docs. If your score is above 80 out of 200, you’ll be invited to submit final docs verifying the processes and practices you mentioned on the call. 

• Complete the “Disclosure Questionnaire.” A chance to be transparent about any “sensitive issues” your company may have. 

• Final background checks. Your company and its members will be checked out, Googled, public records reviewed, and you should be good to go. 

Start your journey today and join the movement!