B Corp V2 - what’s changed?
On 28th February 2027 B Corp submissions on the ‘old’ standards were stopped.
That means no more 80 points, and no more picking and choosing.
Many people are disappointed in the points removal, which I do understand as humans are pretty competitive creatures. However, overall I think the ‘new’ standards are fantastic.
Here’s why:
Business have to meet minimum standards across all 7 impact topics - excelling in one area and being able to neglect another is a thing of the past.
The 7 Impact Areas
The new impact areas are:
Purpose & Stakeholder Governance
Fair Work
Human Rights
Justice, Equity, Diversity & Inclusion
Climate Action
Environmental Stewardship & Circularity
Government Affairs and Collective Action
These topics span every corner of your business’s impact - meaning that the ripples of your operations are assessed as well as the direct impacts. This is something to be celebrated, it means that you will learn, develop and change over time to have an increased positive impact.
The credibility of B Corp
Let’s be honest, B Corp has come under scrutiny in the last few years. Some of this has been fair, some not so. Either way, it is to be expected that as anything grows and awareness there will be some questions raised.
One of the big criticisms of V1.6 - the 80 point system - was that it could be treated as a tick box exercise. Whilst all the certified B Corp businesses I know are genuinely committed to B Corp for the right reasons, I can see that it may have been possible for some to certify without deeply embedding the principles in the business.
V2 changes this
Under V2, there is much more of an emphasis on action.
In multiple ways, businesses have to show that they are engaging employees, that they are progressing against action plans, and that stakeholders are included in decision making.
It is no longer an option to have a policy and no evidence to show how that policy is actioned.
In turn, this means that the credibility of B Corp is increased.
There may not be scoring and the level of competition that brings, but instead there is a deeply embedded ecosystem of consideration for people and planet.
So yes, change is daunting. But it is also exciting, invigorating and, in this case, hugely positive
Together, we can create a legacy to be proud of - contributing to a world where businesses thrive in harmony with nature, ensuring a prosperous and vibrant planet for generations to come.
If you would like to discuss how Planet & Purpose can guide you on your B Corp or Impact journey please contact me.
Laura
p.s. All images are from Unsplash. What an absolutely beautiful, strange world we live in. Let's keep it that way.
