Regarded as a global movement that combines profitability with socio-environmental consciousness, the proposal of System B is to have participating companies use their market power and direct their products and services toward solutions for social and environmental conflicts.

In short, the concept aims for an economy capable of creating value, not only for companies, but also for the community and the environment. Far beyond profits, System B values the well-being of people and society.

To ensure a more strategic look at the applications of System B, it is necessary, first of all, to better understand its benefits. Continue reading and check out in the Codeblog what the concept is, how to get certified, and the greatest benefits offered.

What is System B?

System B is a concept whose principle is to change the logic of the current economy. In this context, any company that wants to can join the movement, as long as it commits to high standards of transparency and to contributing with positive actions related to society and the environment.

Contrary to what many people think, B Corp companies also seek profit, but not at any cost; therefore, they abandon practices that cause negative impacts. The project was created in the United States, in 2006, by three entrepreneurs who, after selling their sporting goods company, realized that the social and environmental impact practices adopted during their management had not been taken into account in the transaction nor maintained by the new owners.

Faced with the situation, the businessmen reflected on the relevance of the social and environmental actions involved in commercial negotiations and, then, began to seek ways to create a methodology with metrics that measured a company's positive results. Over time, the movement gained strength and expanded, until it arrived in Brazil in 2012.

In general, a B Corp operates in accordance with values related to care, innovation, diversity, and mutuality to connect its business with the development of communities, poverty reduction, climate issues, etc., preserving the ecosystem and, at the same time, thriving financially.

How is the certification done?

The certification of a B Corp or B Corporation is conducted by the Standards Advisory Council and the Board of Directors of B Lab.

First of all, the organizations perform a deep analysis of business practices to verify the companies' relationship with employees, community, environment, government, and suppliers.

In addition, to become a B Corp, it is necessary to complete the B Impact Assessment (B Assessment or BIA). Generally, the analysis varies according to the number of employees, sector, and primary location of operation.

After the completion of the verification, a B Impact Report is issued, along with an overall score. To guarantee certification, it is necessary to obtain at least 80 points in all areas.

Right after, a general review of the B assessment is conducted, alongside a member of the B Lab team, to score and align questions that were not fully understood, besides reinforcing the company's best practices.

Subsequently, the company answers the Disclosure Questionnaire, a document that analyzes negative impacts, such as fines and sanctions applied to the organization or its partners. Once the B Impact Assessment and the Disclosure Questionnaire are completed, the company submits the assessment for Verification.

After completing the aforementioned processes, the company undergoes other analyses until the certification is officialized. They are:

initial eligibility analysis – where the answers to the B Impact Assessment and the appropriate behaviors required for certification are verified;

preparation for verification: Preparation of the necessary documentation to reinforce the answers provided in the assessment;

background check;

in-person review; publication of the B Impact Report on the internet through the website www.bcorporation.net;

modification of bylaws;

payment of the annual certification fee;

obtaining B Certification.

The greatest advantages of System B

1. Global Leadership

Companies with B Corp certification become true leaders of the new economic model and, thus, achieve authority in their segments and manage to inspire many other companies.

2. Sustainability

B Corp companies contribute to the pursuit and achievement of goals related to sustainable development.

3. Prominence

Without a doubt, with the certification, it is much easier to attract investors connected to the solidarity economy. In addition, B Corp companies participate in specific campaigns that, besides contributing to building new relationships, also help in a brand's reach and notoriety.

#Did You Know? CodeBit is a B Corp!

We, at CodeBit, are part of the group of Brazilian companies with B-Corp certification.

We believe that education is the most powerful weapon to change the world. Therefore, we have become solution providers for startups, corporate foundations, universities, third sector organizations, and project initiatives with a social purpose.

In this context, we share experiences and use technological tools to enable a set of initiatives that propel education, health, and knowledge to all sectors of society.

To learn more about Codebit's work, click here.

Furthermore, keep an eye on the blog. Soon, we will have many updates here.

A big hug!