As the climate crisis intensifies and societal inequality grows, the need to bring about systemic change is clear. That's why B Lab has strengthened its standards for business impact, equipping companies to drive meaningful, sustainable change. The revised standards strengthen accountability and clarity, guiding companies to take concrete actions that align with the movement's core mission. At the heart of these changes are two key pillars:
Foundation Requirements: Your starting point for B Corp Certification
All companies are required to meet the Foundation Requirements, which are:
- Meet Eligibility Requirements for B Corp Certification: A company must be legally incorporated, in operation for at least 12 months, and comply with local and national laws.
- Commit to Stakeholder Governance: Companies must adopt the B Corp Legal Requirement, ensuring accountability to all stakeholders. This involved embedding stakeholder governance principles into legal frameworks and signing the B Corp Declaration of Interdependence.
Conduct a Risk Assessment: Companies will create risk profiles using B Lab's risk profiling tool. This process determines the number of additional due diligence sub-requirements the company must meet as part of the B Corp certification process.
Impact Topic Requirements
B Lab's new standards require businesses to take meaningful action across key social, environmental, and governance Impact Topic areas. By meeting these expectations, companies can demonstrate leadership in responsible business practices and impact management. These standards have been designed to enhance impact, clarify what it means to be a leading business and integrate feedback from various stakeholders throughout their development.
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Still got questions about the new standards? Visit the Frequently Asked Questions to learn more.