WHAT IS A B CORPORATION® OR B CORP™?
It’s a badge that we’re incredibly proud to hold, but what does it mean to be a part of this community?
“B Corp verification provides much needed accountability in private markets, where information on a company’s social and environmental performance is usually hard to come by.”
Certified B Corporations® (B Corps™) are for-profit companies that use the power of business to build a more inclusive and sustainable economy.And rather than operating purely to generate profit, they prioritise working for social and environmental good: people and planet.
B Corp could be seen as similar to the Fairtrade standard for Fairtrade Food & Drink, or GOTS or Soil Association certification for Organic Beauty or Sustainable Fashion and fairwear clothing ... in other words, B Corp is to business what Fairtrade certification is to ethical coffee.
Certified B Corporations do business in a particular way. They meet the highest verified standards of social and environmental performance, transparency, and accountability. Together, as a community of like-minded businesses, B Corps are driving the shift to a new kind of economy, that is better for workers, better for communities and better for the environment.
As of 2021, there are only around 5,000 Certified B Corporations globally, from more than 130 industries and 60 countries with 1 unifying goal: to redefine success in business. Some of the bigger names you may recognise include innocent (drinks), Patagonia, The Body Shop, Abel & Cole, The Guardian, Ben & Jerry's and Kickstarter. Yet there are just over 1,000 B Corps in the UK - which accounts for just 0.017% of 5.8 million UK businesses.
B Corps are leaders of a global movement of people using business as a force for good. The Certification process uses credible, comprehensive, transparent, and independent standards of social and environmental performance. The B Corp assessment process measures a company’s performance in five categories: governance, workers, customers, community, and the environment.
WHAT IS A B CORPORATION® OR B CORP™?
During the pandemic of 2020 the team at Veo decided they wanted to demonstrate to our customers and our brands that we are robustly committed to sustainability, in all areas. So after a thorough and rigorous 15 month assessment of how Veo's practices impact our customers, stakeholders, the environment and co-workers, it was announced by B Lab on 1st December 2021 that Veo is certified!
It is noteworthy that the average assessment score of all businesses who apply for B Corp certification is just 50.9. However, the B Corp pass mark for certification is a minimum score of 80. Furthermore, for businesses that achieve certification the the average score is 97. Veo scored 130.6!
This score puts Veo in the top 5% of global B Corporations worldwide.
And, Veo is a 'Best For The World' in the Workers category - meaning our "businesses' efforts to create positive impacts for their workforce are remarkable."
See our official B Impact Report at their website: https://bcorporation.net/directory/veo
We’re delighted to join the global B Corp community, to carry the torch for business as a force for good- and to continue our mission as the world’s most sustainable shopping destination...
making it easy to live and shop sustainably.™
