Without a doubt, we have plenty of reasons to celebrate!

After all, we are one of the few Brazilian companies that are part of the group of more than 2,000 global companies that have joined the B system.

In other words, a B Corp meets the highest standards of social and environmental impact, which is why today, our greatest desire is to share this new achievement with all of you. After all, we at CodeBit believe in the maxim: all joy, when shared, is multiplied.

Anyway, if you don't know what the B Corp system means, don't worry. We will explain all the social and environmental relevance of the certification.

Check it out below.

What is a B Corp?

Basically, a company with B Corp certification features business models focused on social and environmental development. The greatest purpose of the movement is to seed the equal progression of sustainability, through the certification of companies globally. In other words, by acquiring the certificate, a B Corp reinforces the goal of identifying and solving social and environmental problems.

Furthermore, each B Corp must meet measurable standards of social and environmental performance, as well as public transparency and legal accountability. In short, these companies lead a global movement of people using business as a force for good, with the overall goal of making the world a better place.

However, for this to happen, companies must commit to continuing a new business model, which considers the importance of people and the environment in the conduct of their businesses. In addition, all marketed products, adopted practices, and profits obtained must benefit everyone in general, and finally, each action taken must reflect the understanding that we are all dependent on and responsible for one another and also for future generations.

But, after all, what are the benefits of becoming a B Corp?

In short, there are c-o-u-n-t-l-e-s-s advantages to becoming a B Corp. Among them, we can highlight participation in a relatively new movement, the opportunity to be seen in the market as a performance reference, attracting new investors, captivating and retaining new talent, and generating positive media. Furthermore, by undergoing the assessment required for certification, companies have the chance to observe and identify ways to foster better employee engagement and establish positive impacts in local and global communities, thereby setting strategies for alignments and improvements. Last but not least, we must consider the application of discounts on products and services within the network formed by certified companies.

And who came up with the idea of creating such a cool movement? Where and how did it all start?

In 2006, a trio of American businessmen noticed that the valuation of their businesses did not take into account the social and environmental awareness of their founders. In other words, on paper, the company was worth as much as any other competitor.

Even so, Jay Coen Gilbert, Bart Houlahan, and Andrew Kassoy went ahead with the sale of their sporting goods chain, which earned them an amount of $250 million. Shortly after, the entrepreneurs began working on creating a seal for companies that showed positive impacts, in search of something that offered value and recognition to companies for meeting social and environmental goals.

Thus, B Lab emerged, a concrete movement that developed its own methodology, including the Global Impact Investing Rating System (GIIRS) index and an evaluation process consisting of more than 150 indicators.

After 14 years, more than 2,000 companies in 50 countries have already been accepted by the organization, among the few Brazilian ones are: Insecta, Movida, Natura, Reserva and now: CodeBit.

What does it take to become a B Corp?

First of all, to start the B Lab certification process, you need to fill out the B Impact Assessment tool and achieve a minimum score of 80 points.

Right after, an Assessment Review is scheduled to verify the data and supporting documents for the answers. During this stage, a conversation with the B Lab team, based in São Paulo, is requested to clarify questions and ask for new documents (if necessary).

Once this is done, it is time for the "Transparency Questionnaire," which ensures the confidential presentation of the company to B Lab regarding sensitive practices, fines, and sanctions related to the company and its partners.

Furthermore, it must be considered that all companies are subject to public record checks requested by the B Lab team.

About 10% of certified companies are selected annually for an In-Depth Certification Assessment. This analysis aims to observe the Certification requirements and confirm the accuracy of the answers presented.

Finally, to maintain B Corporation certification, the company must update its assessment every two years, providing additional documentation and once again achieving at least 80 points in the assessment. This entire process is of utmost importance, after all, it ensures that certified companies are truly aligned with the established criteria.

So, guys, did you enjoy learning more about CodeBit's B Corp certification?
Keep an eye on the blog, soon we will have plenty of good news for you.

Codebit - Programming Solutions