With the aim to have a positive impact on all their stakeholders, the B Corp ecosystem is thriving
In the last few years, a growing community of corporate leaders believe that businesses should do more than selling safe, healthy and environmentally respectful products. As important social actors, companies should get involved in strengthening communities, environmental action and governance, balancing profit and purpose. By early 2022, Quadpack aims to be one of the 4,000-plus B Corps worldwide who share a common objective: to use business as a force for good.
In the third article of our series of interviews with experts and partners about the future of packaging, we talked to Sofía Isasmendi, Director of Programs and Partnerships of B Lab Spain, a non-profit organisation that advocates for a culture shift where businesses help build a more sustainable economy.
What is B Corp?
B Corp refers to a global movement of people using business as a force for good. Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose.
Society’s most challenging problems cannot be solved by government and non-profits alone. The B Corp community works toward reduced inequality, lower levels of poverty, a healthier environment, stronger communities and the creation of more high-quality jobs with dignity and purpose. By harnessing the power of business, B Corps use profits and growth to a greater end: positive impact for their employees, communities, and the environment.
How does the B Corp certification benefit companies?
B Corporations want to build a new ecosystem, comprised of innovative, passionate and forward-thinking business leaders that celebrate being the best for the world, rather than the best in the world.
Several benefits of becoming a Certified B Corporation are: being part of a community of leaders; attracting talent and engaging employees; increasing credibility and building trust, benchmarking and improving performance; and protecting a company’s mission for the long term.
How can B Corp help businesses improve their impact on society and the environment?
One of the biggest benefits of the certification process is the B Impact Assessment, a free tool that measures the social and environmental performance of the entire company. This enables any business to measure the impact of its operations on its workers, its community and the environment; to compare itself to its industry peers; and to measurably improve its performance over time. No matter how sustainable your business already is (or is not), you will undoubtedly find blind spots that you can address to further benefit your stakeholders.
The B Impact Assessment highlights ways for businesses to exercise their influence to create ripple effects for more positive impact through their stakeholders — supply chain, workers customers, and the environment — by including them in their decision-making processes.
How do you envision the future of business?
We envision a global economy that uses business as a force for good.
This economy is comprised of a new type of corporation - the B Corporation - which is purpose-driven and creates benefit for all stakeholders, not just shareholders.
As B Corporations and leaders of this emerging economy, we believe that we must be the change we seek in the world. That all business ought to be conducted as if people and places mattered.
That, through their products, practices and profits, businesses should aspire to do no harm and benefit all. To do so, we must act with the understanding that we are each dependent upon another and thus responsible for each other and future generations.
The future of packaging is a series of interviews with Quadpack’s partners and experts who share value and knowledge about trends and technologies that will transform our industry.