The rise of the B Corp certification in recent years has been remarkable, with more and more businesses realizing the importance of aligning profit with purpose. In a recent conversation with Greg Tooke, the founder of Light Trail Consulting and a pioneer of the B Corp movement in Canada, we delved into the significance of this certification, the benefits it brings, and how it’s shaping the future of business.
Greg’s Background
Greg’s journey to founding Light Trail Consulting and advocating for B Corp certification began with his background in the automotive sector. After selling his previous company, he took time to reflect and realize he wanted to pursue something different. He decided to establish Light Trail Consulting, which, coincidentally, landed its first client in the regulatory sector. This led Greg down the ‘rabbit hole’ of social enterprise, ultimately leading him to discover the B Corp certification.
The Work of Light Trail
Light Trail Consulting works with a diverse range of clients. They assist companies in strategic change, embedding purpose in their organizations and achieving B Corp certification and recertification. They also work with non-profit organizations and municipalities to build capability within their teams. The ultimate goal is to blend profit and purpose, ensuring that businesses are not only successful but also purpose-driven.
Why B Corp?
B Corp certification appealed to Greg due to its robust framework that examines every facet of a business. In his words, “it really measures important things and gives you an opportunity to improve.” Moreover, it perfectly blends the concept of profit and purpose. This unique approach sets B Corp apart from other certifications, which might not offer such comprehensive insights into a business’s operations.
I realized that we needed a radical shift in how businesses approach their operations, and B-Corp provided the perfect framework to make that happen
The Benefits of B Corp Certification
Greg believes the benefits of B Corp certification vary depending on the size and nature of the organization. For larger companies, the biggest advantage is the attraction and retention of people. For smaller businesses, being part of a network of value-aligned, like-minded companies is hugely beneficial. This network allows companies to engage with best practices and connect with organizations they want to collaborate or work with.
The B-Corp certification pushes you to make meaningful changes in your company, and the results can be transformative, both for your business and for the world.
The B Corp Journey and the Future
B Corp certification, as Greg points out, is a journey. And even the certification is evolving. The proposed new standards for the certification focus on ten core topics and risk standards that are universally applicable, taking into account purpose, ethics, impact management, living wages, worker empowerment, human rights, justice, equity, diversity and inclusion, climate, environmental management, and collective action.
B Corp certification, according to Greg, is an excellent way for businesses to prove their social and environmental responsibility, especially as more organizations start to demand ESG credentials.
Greg’s final call to action is simple yet profound: don’t be scared of B Corp. Use the free B Impact Assessment tool to improve your organization, even if you don’t intend to go for certification. Instead, embrace it as an opportunity to blend profit with purpose, improve your business practices, and make a meaningful impact on the world.
Purpose and profit go hand in hand; in fact, being purpose-driven often leads to better financial performance in the long run. Every purchase, every business decision, and every policy has the potential to make a difference. Let’s use that power to build a better, more sustainable future.