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B Leaders Module 1: Introduction to the B Corp movement

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B Leaders Module 1: Introduction to the B Corp movement

  1. 1. October 2016
  2. 2. Agenda Where do you stand now? 12.30pm – 1.00pm Introduction to the B Corp movement 1.00pm – 1.30pm What’s involved in certification? 1.30pm – 1.55pm Panel: What does B Corp mean to you? 1.55pm – 2.40pm Understanding the BIA 3.00pm – 3.30pm Demo of the BIA 3.30pm – 3.50pm Time to have a go 3.50pm – 4.40pm Standards Review 4.40pm – 5.00pm
  3. 3. Meet your fellow B Leaders Pair up with someone and have a chat! In 10 minutes, you’ll be introducing your partner to the group… Who are they? What do they do? What is their number one objective for this course?
  4. 4. Introduction to the B Corp movement
  5. 5. The history of the B Corp movement https://www.youtube.com/watch?v=Hayf9Ob9fiQ
  6. 6. One day all companies will compete to be best for the world, and as a result society will enjoy a more shared and durable prosperity for all
  7. 7. 60+ GIIRS RATED FUNDS 42,000+ USERS OF THE BIA - - 100+ MEASURE WHAT MATTERS PARTNERSHIPS 1800+ CERTIFIED B CORPS 50 COUNTRIES 130 INDUSTRIES 1 UNIFYING GOAL CERTIFIED B CORPS MEASURE WHAT MATTERS NEW LEGISLATION 3500+ BENEFIT CORPS 33 LAWS PASSED G8 TASKFORCE ERISA REFORM
  8. 8. UK community & regional presence Benefit Company legislation Mobilising the B Corp movement in the UK Team of 5 with some extra support! Growth: B Leaders & MWM Community: collaboration & events
  9. 9. 103 CERTIFIED B CORPS £680m TOTAL REVENUE
  10. 10. https://www.youtube.com/watch?v=HgZSwzCQ3g0&feature=youtu.be Let’s hear from the B Corp community… why did you become a B Corp?
  11. 11. The B Corp certification process
  12. 12. How to become a certified B Corp… 1 Pass the performance test 2 Meet the legal requirement 3 Make your status official 4 Pay the certification fee Score 80+ on the B Impact Assessment. Complete your Standards verification and Disclosure Questionnaire Amend your company’s constitution to reflect stakeholder objectives Sign the B Corp declaration to show your commitment Depending on your revenue, the certification fee ranges from £500 to £50,000
  13. 13. How to become a Pending B Corp… 1 Complete the BIA on an aspirational basis 2 Meet the legal requirement 3 Pay the certification fee 4 Sign the Term Sheet Fill in the BIA based on what you think you will achieve in the your first 12 months of operations Amend your company’s constitution to reflect stakeholder objectives Pending B Corps are required to pay the certification fee of £250 The Term Sheet sets out the Pending B Corp requirement
  14. 14. Demystifying the B Corp legal change . What is the Legal Test? Commitment to the triple bottom line Uses Companies Act Article 172A as legal basis to ensure a B Corp enshrines commitment to: - creating a material positive impact on society and the environment through its business and operations - considering ‘stakeholder interests’ – including shareholders, employees, suppliers, society and the environment - Provides comfort to Directors that stakeholders are not granted rights of recourse against Directors
  15. 15. Demystifying the B Corp legal change . What is the process for implementing the Legal Test? 1. Board members review and develop timelines for implementation 2. Circulate to internal stakeholders for review (e.g. investors, audit committee, risk committee, legal counsel, investment committee) 3. Board consider feedback. Any variations to language must be approved by B Lab UK 4. Board approve language and convene a shareholders’ general meeting or, for private companies, a written resolution 5. Shareholders approve by passing a special resolution 6. File amended Articles with Companies House
  16. 16. Peter Gilheany Forster Communications Delfina Zagarzazu One Planet MBA Sistema B What does B Corp mean to you? Jamie Audsley Share Action Nancy Sawan Sloan Fellow https://vimeo.com/162814510
  17. 17. Learning outcomes At the end of this module, you will be able to : Understand the history of the B Corp movement, B Lab’s global approach and how B Corps fit into the wider economy Understand B Lab UK’s vision and strategy for redefining success in business in the UK Understand the high-level process involved in certifying as a B Corp, including the legal change
  18. 18. Agenda Where do you stand now? 12.45pm – 1.00pm Introduction to the B Corp movement 1.00pm – 1.30pm What’s involved in certification? 1.30pm – 1.55pm Panel: What does B Corp mean to you? 1.55pm – 2.40pm Understanding the BIA 3.00pm – 3.30pm Demo of the BIA 3.30pm – 3.50pm Time to have a go 3.50pm – 4.40pm Standards Review 4.40pm – 5.00pm

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