Cambridge-based coffee recycling company bio-bean Limited has announced its certification as a B Corporation. It joins a growing group of companies reinventing business by pursuing purpose as well as profit.
bio-bean has been certified by B Lab, the not-for-profit behind the B Corp movement, as having met rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit.
The B Corp certification addresses the entirety of a business’ operations and covers five key impact areas of Governance, Workers, Community, Environment and Customers. The certification process is rigorous, with applicants required to reach a benchmark score of more than 80 while providing evidence of socially and environmentally responsible practices relating to energy supplies, waste and water use, worker compensation, diversity and corporate transparency. To complete the certification, the company has legally embedded their commitment to purpose beyond profit in their company articles.
bio-bean is now part of a community of over 3,500 businesses globally who have certified as B Corps. The B Corp community in the UK, representing a broad cross section of industries and sizes, comprises over 400 companies and includes well-known brands such as The Guardian, innocent, Patagonia, The Body Shop, and organic food pioneers Abel & Cole.
Recent attention on the waste management and recycling industries makes bio-bean’s B Corp certification a notable step and signals a shift towards greater accountability and transparency in the sector.
George May, executive director of bio-bean, says: “We believe that businesses are the best vehicles for driving change and delivering impact (both social and environmental). We consider that for a business to be successful it must be more than simply profitable. With B Corp certification fast becoming the gold standard for evaluating the sustainability of a business beyond financials, we are extremely proud to be a B Corp.”
“B Corp recognises businesses that are working to bring about change and operate in a way that seeks to benefit the wider community, whilst it also provides a framework for continuous improvement. For us, the ethos behind B Corp is aligned with what we are trying to achieve at bio-bean, so to become a B Corp is a fantastic recognition of the business that the team has built, as well as being a clear marker for the way in which we will operate going forward.”
“We hope that our suppliers, customers and all stakeholders – knowing that by being a B Corp we are committed to being transparent about our impact and to continuously improving the sustainability of our business – will be emboldened to work with and support us in our purpose to make big change that lasts.”