It doesn’t ask you to stop being a business, become a charity or suddenly take on the social responsibility of a government. It asks you to engage with your own ecosystem of operation. It asks you to shift the focus from simply extracting from the resources around you to contributing and nurturing to them for the long term. It assesses your strengths in 5 areas: Business Model, Governance, Employees, Community and Environment scoring these and giving best practice tips to improve.
No matter which country, state or city you are in, the B Corp framework allows you to build a better business. The systems applies regardless of which kind of business you are, what size, and in most cases is complementary to existing laws and regulations.
Corporations are now the most powerful economic entities on earth, affecting almost every area of our lives – as workers, consumers and custodians of the corporate entity itself. The B Corp framework allows stakeholder considerations to be incorporated into the governance structures of a company without waiting for extensive legal reform.
Becoming a B Corp in Australia can be done through B Lab Australia the not for profit body dedicated to certifying companies through the B Lab Assessment.
You must get 80 out of 200 points in the B Impact Assessment to become a B Corp. The tool assesses how the company is reducing its impact and delivering benefits for all stakeholders — workers, governance, environment, and the community.