Business as a Force for Good: B Corp Status and ESG Initiatives

Unlock the world of B Corps & ESG initiatives. Discover how BlueRock uses business for good, benefiting people, communities, and the planet.

Business as a Force for Good: B Corp Status and ESG Initiatives

Unlock the world of B Corps & ESG initiatives. Discover how BlueRock uses business for good, benefiting people, communities, and the planet.

In today's business landscape, making a positive impact extends far beyond profitability. Many companies are embracing initiatives like B Corp and ESG (Environmental, Social, Governance) to integrate social and environmental responsibility into their core strategies. In this article, we will delve into the world of B Corps, offering insights into what they are, why they matter, and how your business can become a part of this transformative movement.

What is the ‘B’ in B Corp?

B Corps, or Benefit Corporations, represent a new kind of business entity that prioritises benefits for all people, communities, and the planet. These companies are committed to making a positive impact in addition to generating profits. To better understand B Corps, the video below is a great place to start.

Who Manages the B Corp Certification Process?

So, who decides if an organisation gets to claim B Corp status? The certification process is overseen by B Lab, the not-for-profit network transforming the global economy to benefit all people, communities, and the planet. Becoming a certified B Corp is a rigorous journey, involving a commitment to social and environmental impact. It requires demonstrating this commitment through an audit conducted by B Corp consultants. It's a process that demands dedication and effort from business leaders.

BlueRock's B Corp Journey

BlueRock, a pioneering professional services firm, became the first certified professional services B Corp in 2017. For BlueRock, it was the right thing to do, a move from sporadic giving to strategic giving, and a commitment to improving their impact and ethical operations through the recertification process, which occurs every three years. 

The Five Pillars of B Corp Assessment

The B Corp Impact Assessment evaluates companies across five key ESG pillars:

  1. Environment: Assessing practices related to air quality, climate, energy, carbon emissions, sustainable suppliers, paper usage, water management, and fleet sustainability.
  2. Social - Workers: Focusing on hiring practices, employee engagement, and the well-being of staff.
  3. Social - Community: Measuring contributions to charitable causes, diversity and inclusion efforts, and supply chain management.
  4. Social - Customers: Evaluating data security and support for purpose-driven organisations.
  5. Governance: Scrutinising entity setup, mission alignment, transparency, ethics of operations, and financial practices.

B Lab recommends focusing on areas of strength to pass the 80-point (out of 200) certification threshold. Beyond certification, the assessment provides a roadmap to continuous improvement. BlueRock achieved high scores in the Workers and Community pillars during the B Corp assessment. Here are some areas where BlueRock excelled:

BlueRock's Employees (BlueRockers)

  • Engagement & Satisfaction: Conducting annual staff surveys and involving employees in selecting charitable causes they're passionate about.
  • Leave Policies: Introducing a volunteer and pro bono leave policy for staff to dedicate two paid workdays to community service.
  • Health and Wellness: Promoting wellness through fitness challenges, yoga/meditation sessions, and creating safe spaces in offices.
  • Career Development: Supporting employee growth through training, subsidised education opportunities, and external professional development.

BlueRock's Community Initiatives

  • Employee Resource Groups: Establishing diversity, equity, belonging, and inclusion committees such as Rainbow Rock and a broader Diversity, Equity, Belonging & Inclusion committee.
  • Be BlueRock Foundation: Launching a formal charity to inspire philanthropy among employees and clients, increasing charitable contributions.
  • Payroll Giving: Offering employees the option to contribute pre-tax income to the foundation for convenient and meaningful giving.
  • Diversity in Clientele: Serving not-for-profit and B Corp clients across various professional services.

Get Help Turning Your Business into a Force for Good

"ESG" and "B Corp" aren’t just buzzwords. They represent a significant shift towards responsible and ethical business practices. BlueRock is a shining example of how businesses can use their influence to make a positive impact. By becoming a B Corp, or formalising a corporate giving strategy, your company can join this transformative movement, contributing to a better world for all. Get in touch with our philanthropy consultants to learn more about which pathway best suits your business.

Stay up to date with the Be BlueRock Foundation, learn about philanthropy and discover different ways to get involved with your business or your family.