From time to time there are changes within the B Corp movement that are important to communicate to our IGP community. 

Several weeks ago, B Lab published news about an update to the B Corp standards. As you know, the B Impact Assessment is updated approximately every 3 years. This update is wider in scope. 
 

What is the update?

• Following multi-stakeholder feedback and guidance from the Standards Advisory Council, B Lab will develop new performance requirements for the B Corp Certification. These will include requirements in approximately ten specific topic areas spanning environmental, governance-related, and social impact, which companies will need to meet in addition to using the B Impact Assessment (B Lab). 

• The new standards topics will be universally applicable and most relevant towards achieving an inclusive, equitable, and regenerative economy (B Lab).

Why is this update wider in scope?

• Specific and mandatory performance requirements on key topics ensure that B Corp Certification remains a differentiation of high-performing companies using business as a force for good (B Lab).

• The goal of these new standards is to ensure that the movement continues reflecting the leadership necessary for the moment and the future, which includes ensuring it is feasible and accessible for a variety of businesses, such as those that have been historically marginalized (B Lab).

When will this change take place?

• Updates to the standards will be tested the rest of this year; phased implementation will begin in 2023.

What does this mean to you?

• Existing B Corps will have sufficient time to prepare for the adoption of any new standards, likely at least one full certification term after their approval, in order to minimize disruption to existing B Corps and companies in the queue to certify (B Lab)

Where can I find more information?

• Update on the Future of the B Corp Certification Performance Requirements announcement

• B Corp Certification: Development of New Performance Requirements and Next Steps informational webinar recording

• To participate in feedback to B Lab about the changes fill out this form

• If you have any questions, please reach out to standardsmanagement@bcorporation.net.
   

We think this is an important and necessary change to confront today's biggest challenges, including climate change, health care, income inequality, and human rights. We look forward to continuing our work together in creating an inclusive economy that benefits all. As always, feel free to contact us with any questions or concerns.

The IGP team