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SPECIAL REPORT ESG FOR THE BENEFIT OF ALL
by Ged Henderson
Is the world better off because your business is in it? That is the big question that Celia Gaze and a growing number of Lancashire business leaders are asking themselves.
Celia is the founder of The Wellbeing Farm, a wedding, party and corporate events venue based in Edgworth. It is the first independent events venue to be B Corp certified in the UK.
areas of governance, workers, community, environment and customers.
Celia says: “B Corp’s ethos is using ‘business as a force for good’, using business as a vehicle to improve the planet, staff conditions of employment and the local economy. It’s no surprise it is the fastest growing business movement in the world.
“Organisations that are certified as B Corp have to meet rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit.
Nicky Hodgkiss-Cook
Certified B Corporations, or B Corps, are companies that meet high standards of social and environmental performance, legal accountability and transparency.
To certify, a company must measure and improve their impact on their workers, customers, community, and the environment.
B Corps change their legal articles to consider the impact of their decisions on people and the planet alongside profit. The B stands for ‘benefit for all’.
Only around 1,200 businesses in the UK have the certification which covers five key impact
“Achieving the B Corp certification has made a massive difference in our business, but the main one is raising trust – being viewed as a venue which looks after its staff, its local area and the planet. It’s validation of business commitment towards corporate social responsibility.”
She adds: “In five years, if you are not a B Corp you will be left behind. Half of millennials seek out socially conscious brands; investors look for organisations that impact environmental and social change.
“And 66 per cent of global consumers will pay more for sustainable products and practices and potential employees seek out employers that reflect their values.”
New research has also revealed that 80 per cent of the UK public would favour shopping from companies that are doing good for people and the planet, yet only 22 per cent find it easy to identify whether a company means what they
say when considering buying from them.
Once accredited the’ B Impact Assessment’ provides a benchmarking tool providing opportunities for future improvement. As part of its accreditation, it demands that companies report their impact annually and must re- accredit every couple of years, ensuring it’s a tool for continual improvement.
Celia adds: “The changing focus also reflects the changing nature of sustainability and society so B Corp really does prepare you for the future.”
Blackpool-based energy consultancy Optimised Energy says its B Corp status represents its commitment to goals outside of shareholder profit. Managing director James Wood believes the company and its workforce’ values “naturally align with the principles of B Corp and that is what pushed it towards aiming for the certification, going through what is a rigorous process.
He adds: “Optimised Energy has always been about much more than just profit. We take our commitments to our clients, our employees and the world around us very seriously as we strive to balance environmental and economic sustainability in everything that we do.”
Preston headquartered recycling and waste management company Recycling Lives achieves its B Corp certification last December.
The firm was founded on the principles of creating social value in 2008 and it says the accreditation recognises its commitment to
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