Heard the term ‘B Corp’ being thrown around? Wondering what it means and what it represents? At BlueRock we’ve been B Corp certified for 6 years, and we just got re-certified! So grab your popcorn, get comfy, and let us explain what a B Corp is, why we pursued B Corp status, and what becoming one could mean for your business. Teaser…it’s been amazing!
What is a B Corp?
B Corps, or Certified B Corporations, are the cool kids of the business world! B Lab, the team behind the B Corp movement, has given them the stamp of approval for being the epitome of socially and environmentally responsible, transparent, and accountable companies. The "B" in B Corp stands for "benefit," which is what these businesses are all about – balancing profit and purpose to benefit everyone, including people, communities, and the planet.
Think of it this way – B Corps are future-focused, always striving to do better and hold themselves to a higher standard. They're part of a tight-knit community of over 470 companies across Australia and Aotearoa New Zealand, representing industries from accounting to waste management – all passionate about making a positive impact in the world.
Why is BlueRock a Certified B Corporation?
At BlueRock, we believe that business can be a force for good, and we're all about making that a reality! As a growing entrepreneurial firm, we're not just focused on numbers – we see the value in balancing our company's purpose and profit to create a positive impact on the world. With a community of over 350 passionate BlueRockers, we're a tight-knit group of dreamers and doers who love what we do.
As B Corp Month approaches, we’re proud to have been re-certified as a B Corporation for the next three years. While it’s not about the status, Founder and CEO, Peter Lalor, always envisioned BlueRock seeking to doing things better and the B Corp framework is a great way to hold ourselves accountable for this. “The goal for BlueRock was to make it a great place to work while also supporting a sustainable and healthy planet. With our people-first culture being what sets BlueRock apart, B Corp gives us the opportunity to enter a community and space where like-minded and future-focused businesses go beyond the norm,” Lalor said.
Despite the challenges posed by the COVID-19 pandemic, BlueRock remained steadfast and powered through, with the support of an incredible community of employees, clients and partners. And, when we say we love what we do, we mean it. We're passionate about creating a workplace that attracts and retains the best clients and team members. One of our core values is to always give back to the community, which we also do through our Be BlueRock Foundation .
Wondering How to Become a Certified B Corp?
Becoming a Certified B Corporation means rethinking what success in business means. Sure, revenue and profit are important, crucial in fact, but there's a greater opportunity to create prosperity for all. To achieve this certification, a business must undergo a rigorous B Impact Assessment (BIA) that evaluates its impact in the areas of governance, workers, environment, community, and customers.
The BIA considers all aspects of a company's operations and its effect on stakeholders, and the questions vary based on the company's industry, size, and location.
If you pass the test with flying colours (aka score at least 80 out of 200), you get to wear the B Corp Seal with pride for the next 3 years. This lets your customers and employees know that they're supporting a business that's not just in it for the money, but also to make a positive impact on the world.
What Does Being B Corp Certified Mean For You and Your Business?
If you become a B Corp, you’ll join a unique community of over 3,200 companies from 64 countries spanning 150 industries. This certification is a symbol of a company's commitment to creating a better world through its business practices.
In an era where businesses are increasingly expected to contribute to societal and environmental change , B Corp certification provides a way to measure and communicate a company's impact. B Corp leaders believe that sustainable business is good business and use their companies as a force for good.
By obtaining B Corp certification, customers trust that a company has met strict standards for accountability, transparency, and performance in areas such as employee benefits, supply chain practices, and charitable giving. This means that the business operates in a way that benefits all stakeholders, not just its owners and shareholders.
By being a B Corp, you are joining a movement towards a sustainable future aligned with ESG and SDG goals. This certification can help attract employees and clients who share your commitment to sustainability and social change and allow you to be transparent about your impact.
Chat to BlueRock About Running an Impact-Focused Business
Being a certified B Corp is an important part of our impact model. It creates a benchmark for us to hold ourselves accountable to, and helps us identify areas where we need to improve.
Measuring data on this is important, and after establishing our Be BlueRock Foundation in 2021, we’ve started to gather more data on how many hours of pro bono work our employees are doing, the number of volunteer hours they offer, how much they salary sacrifice and donate and fundraise…it all helps us to measure our impact.
The foundation also allows us to grow wealth for charity partners through an impact portfolio that follows a close ESG criteria. This is becoming more and more important to our clients, staff and partner organisations as people seek to bring a greater purpose to the wealth they are building throughout their lives. Want to know more? Feel free to reach out to hear more about our experiences as an impact-focused business , our B Corp certification, or how you can set up a corporate giving strategy for your business by following our strategic framework.
