At Fingerlakes Wealth Management we became a Certified B Corporation to demonstrate our commitment to our community, both local and global. We join the ranks of more than 1,000 other Certified B Corps throughout the world. While maintaining socially responsible portfolios is part of this process, much of certification process is taken from how we interact with our community, treat our employees, and respect our environment. But our certification doesn’t mean we’ll stop here. We’re continually using the B Lab assessment to ensure that we can continue improving our impact.
What is a Certified B Corporation?
Certified B Corporations are a new type of corporation which uses the power of business to solve social and environmental problems. B Corp certification is to sustainable business what Fair Trade certification is to coffee or USDA Organic certification is to milk.
Why do B Corps matter?
These corporations are leading a global movement to redefine success in business. By voluntarily meeting higher standards of transparency, accountability, and performance, Certified B Corps are distinguishing themselves in a cluttered marketplace by offering a positive vision of a better way to do business.
How does a company become certified?
B Corps are certified by the nonprofit B Lab. To become certified, a company must:
- Meet the Performance Requirement: Complete the B Impact Assessment and earn a reviewed minimum score of 80 out of 200 points.
- Meet the Legal Requirement: Adopt the B Corporation Legal Framework to bake the mission of the company into its legal DNA. This allows the company’s values to thrive under new management, new investors, and new ownership.
- Make it Official: Sign a Term sheet and Declaration of Interpendence to make the certification official.
Why do companies certify?
B Corps want to be a part of something bigger than themselves, but for many, becoming a B Corp also has to make business sense. B Corp certification helps companies differentiate from pretenders, generate press, benchmark performance, save money and access services, attract investors, partner with peers, and attract and engage talent.