What is a B Corporation? Everything you Need to Know!

You may have heard the term B corporation before, but for many, it's a term that still goes unrecognized. More and more companies are lining up to join the B Corporation movement and are going through extensive audits in order to be certified. But what does it mean and why is it important? In this post, we'll take a look at what is a B Corporation, how to get B Corp certified, why become a B Corp and what it means to us.

What is a B Corporation?

B Corp is short for B Corporation, which refers to any business enterprise certified by B Lab. This organization is an independent entity based out of the United States with offices across the globe. B Lab aims to bring together companies that create general public benefit. For the betterment of the entire planet. B Labs expects certified B Corps to integrate a commitment to social responsibility in the company's governing documents. At GROSCHE, we embed these values into the company core and have done so since day 1. We also track our long-term progress towards a sustainable world by reporting back to B Lab as required. Be sure not to confuse B Corps with Benefit Corporations. Benefit corporations are a legally recognized, for-profit corporate entity. B Corps are required to obtain this government status if the required legislation exists in their place of operations. There are a growing number of benefits associated with this legal classification. Unfortunately, this is not available yet in Canada while only 30 states in the U.S have such legislation. There are a growing number of benefits associated with this legal classification and we hope to capitalize on as soon as it's available.

How To Get B Corp Certification

Aspiring B Corps must pass an assessment curated by B Lab. This assessment measures the social and environmental impact of a business. From the farmers at the beginning of the supply chain to the consumer at the end of the distribution channel. The test collects information about a company's business practices from top to bottom. If the company passes the first test, B Lab reviews company documents to get an in-depth understanding of the business. Finally, they award the companies that meet sustainability guidelines with B Corp certification.

Why Become a B Corp

The purpose of certification is to ensure that a social enterprise meets social sustainability and environmental performance standards. It helps guarantee that companies are accountable to stakeholders and transparent to the public. B Lab certification applies to the entire company, across all product lines and departments. So you can rest easy knowing that a certified B Corp walks the talk. B Labs expects certified B Corps to integrate their commitment to social responsibility in company governing documents. At GROSCHE, we embed these values into the company core and have done so since day one. We even track our long-term progress towards a sustainable world by reporting back to B Lab under strict guidelines.

Walk It Like We Talk It

Many companies claim to give back to society but it can be unclear how they do so. Sometimes, it isn't easy to see which ones are legitimately impacting the planet. This is where B Corps comes in. B Corps are recognized leaders in the social entrepreneurial space. Their impact on society is clear. And consumers can be sure that these companies are holding true to socially responsible values. B Corp certification requires that companies integrate B Lab commitments into their corporate structure and governing documents. This process is legally binding and ensures that for-profit companies act in the interest of their community and the environment. This way, the public has the assurance that a company claiming to improve their surroundings truly does so. GROSCHE is one of over 78 certified B Corporations in Canada. Some of the more well-known companies to "B incorporated" are Ben & Jerry's, Etsy, and Warby Parker. To date, over 2000 B Corps have been certified across the globe. This figure is rising every year. And all 2000+ of these companies took a step forward in the global movement for socially sustainable businesses. Sustainable businesses that use economic markets to solve social and environmental problems.

Our Mission

GROSCHE is a mission-driven business. Our goal as a B Corp is to transition outdated business practices into the 21st century. Where we hope businesses can learn to be responsible by nature. We hope that our leadership in this space will inspire others to adopt similar values for society and the environment. Together, we believe we can make the world a better place. But, we don't just say that. We do it.

Why GROSCHE Became a B Corp

GROSCHE plays a pivotal role in the movement for ethical commerce. We are a family-run, majority woman-owned and operated B Corp out of Ontario, Canada. GROSCHE is one of many entrepreneurial startups to thrive in Canada. But our unique qualities reside in the core values that built our company from the ground up. We strive to improve social sustainability through ethical, responsible business practices. The executive team here at GROSCHE is proud to announce, we do not compromise the health of our society or environment for the bottom line. And unlike most businesses, we believe there is no need to compromise profits in pursuit of the general public benefit either. Economic growth can go hand in hand with the prosperity of society. A truly responsible business is one that hits both goals simultaneously. GROSCHE aims to be such a business. As well as a source of joy in the world for customers, employees, society, and planet.

'Best of the World' B Corp Honouree

GROSCHE was recognized by B Labs for our work in environmental sustainability last year. We scored in the top 10% of over 2000 B Corps from 50+ different countries for our green impact. We do this by partnering with like-minded companies to bring sustainability to the forefront of business practices. Our cooperative efforts have:

• Led to a 40% reduction of energy usage when we switched all workspace lighting to LED lighting
• Cut A/C use by 90% with the installation of an efficient air exchange system
• Offset emissions by becoming a Carbon Neutral Operation in 2012
• Planted more than 5,000 trees to offset our forestry footprint
• Consolidated shipments for optimization
• Reused shipping materials to reduce waste
• Compost and Recycling program for neighboring businesses
• An 80% landfill diversion rate for the waste we produce
• Returned an equal amount of energy we used back to the grid as Green Energy (via Bull Frog Power)
• Funded a banana plantation project in South Sudan
• Created the Dresden & Terra, the two most eco-friendly french presses in the world.

We aim to create long-term solutions for people to rise out of poverty. Our main focus to reach this goal is our international Safe Water Project. This project improves the health and economy of impoverished communities. We teach and fund these communities to build, service and sell biosand water filters. We are proud to say that our efforts support target communities' employment, income, health, and prosperity. Click here to learn more about our initiatives.

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