How Can a B Impact Assessment (BIA) Help in the Long Run?

A B Corp needs to score at least an 80 on the assessment to become a certified B Corporation.

For a B Corp to be certified it must complete a B Impact Assessment. This assessment rates a company on a scale of 0-200 and measures the impact a company has on its workers, community, environment, and companies.

This total forces prospective B Corps to focus on outcomes of their business practices. To score high on the BIA requires a prospective B Corp to excel in multiple of the five key sections: governance, workers, customers, community, and environment. A B Corp needs to score at least an 80 on the assessment to become a certified B Corporation.

A B Corp must take the B Corp assessment every three years to remain certified.

In this assessment the B Corp must remain above an 80 on the assessment. This may seem simple, but the B Impact Assessment has undergone six iterations since its start in the late 2000’s. These iterations are based on feedback from companies that have taken the assessment. In recent years, these changes have added clarity to the standards set by the BIA. The changes have emphasized the outcomes of the operations of B Corps and other companies filling out the assessment whereas in previous iterations companies received higher scores based on clearer policies. The change to emphasize outcomes instead of policies has also encouraged companies, not currently B Corps, who already have socially responsible practices to take the BIA and try to become a certified B Corp. The changes made by B Lab have led to many B Corps to aspire to become more socially responsible companies. The changes have encouraged and sometimes forced aspiring B Corps and other companies to want to score higher, and the only way to do this is to become a more responsible company. As iterations continue, B Corps can find new best practices to follow on their quests to become more sustainable.

The BIA can also be taken by any company, takes only a few hours to initially fill out, and provides benefits for all types of companies, not just prospective and current B Corps. This allows all companies to find ways they can improve socially and environmentally with the hope of increased profits to follow. The BIA allows companies to see areas which need improvement and areas they already are exemplary in. Whether you are a certified B Corp, an aspiring B Corp, or just a company curious on what it can improve on, the B Impact Assessment provides an opportunity to continuously benchmark against industry leaders in sustainability and other business practices that reach farther than profit.

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For more information about our B Corp Consulting Services click here. If you are interested in becoming a B Corp Certified company, contact us and we will schedule a meeting.

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