5 Ways We Are Building the B Economy
Ideas to Get Involved in Creating a Better World
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People don’t believe the existing economic system is working for them. They’re angry, and they’re right. The B Economy is where businesses compete to be the best for the world, the people living in it, and the natural environment on which our quality of life depends. In the B Economy, people have jobs that satisfy the deeper, innate reasons we go to work: to build something meaningful, to strengthen community ties, and to provide a good life for their loved ones.
That’s why the theme for the 2018 Champions Retreat focused on implementing solutions to build a B Economy that works for everyone, for the long term. Champions Retreat is the annual gathering of mission-driven leaders of the Certified B Corporation community focused on collective action and continuous improvement. Each year, hundreds of leaders gather for three days of community-led, impact-focused sessions complemented by inspirational events designed to cultivate bonds and shared memories. While attending, leaders from B Corps, other mission-driven businesses, nonprofits, fund managers, and foundations engaged in meaningful collaboration, relationship building and shared learning.
You can help us build a B Economy that supports businesses striving to create a shared and durable prosperity for all. Find more ideas from the retreat’s speakers and attendees below.
1. For Business To Be Good, It Must Be Good For Everyone
Many of the event’s sessions focused this topic of building an inclusive economy, including “How to Be an Anti-Racist Company” and “Equity as a Growth Strategy.” As part of this focus, B Lab is embarking on the third year of the Inclusive Economy Challenge, a call to action for Certified B Corporations to improve their impact in pursuit of a more inclusive economy.
Inclusive Economy Challenge participants set three goals related to equity, diversity and inclusion from within the B Impact Assessment to improve on in the coming year. B Lab supports participants with relevant resources, including step-by-step workbooks to guide participants through the process, best practice guides assembled by B Lab, stories of fellow participants and content from trusted topic experts.
New this year, B Lab has partnered with B Corp Rhino Foods to help companies (which don’t have to be Certified B Corps) replicate Rhino’s award-winning Income Advance Program. Sign up to learn more about this easy-to-implement employee benefit that helps employees gain access to emergency funds in a way that builds credit and encourages savings. (Keep reading for more about Rhino Foods’ program.)
2. Sharing Immigrant Stories
Several Portland-based B Corps worked together to create a collection of stories that feature the paths by which members of the Portland B Local community, originating from all over the world, came to reside in Oregon. These volunteers were asked to share their personal experiences in the effort to foster a bigger conversation about immigration, and to understand the stories behind the label “immigrant.”
The collection was gathered in “US: A Collection of Immigration Stories From Our B Corp Family — Their Journeys, Experiences, and Reflections on Home.”
This book of profiles and interviews highlights our commonalities, while honoring everyone’s unique experiences. The book’s creators seek to embrace their community and create a space that respects and values both their new and long-standing international partners. It is their hope that this book leads to a deeper dialog and broader understanding of the world as an interconnected community.
3. Are You Sharing Your Story?
People are distrustful of business and demanding that businesses become better stewards. Their distrust is fueled by many companies being proven guilty of greenwashing, using their thin efforts as marketing campaigns.
But for companies walking the talk, telling the stories of the positive ways that businesses can impact the world is critical to advancing the movement. Part of building the B Economy is telling customers and fellow employees about the positive work businesses like B Corps are doing. The equitable supply chains being established, the fair worker policies being practiced, the eco-friendly processes being followed—these stories and more are what need to get out to the world.
In addition, in November 2018, B Lab and the community of B Corps will launch a brand awareness campaign, to better advance the word about what positive-impact, mission-driven businesses are doing to make the world about a better place. Stay tuned for how to get involved!
4. Championing Climate Change
In one session, eight climate leaders, representing six different B Corps, shared their expertise on topics related to the climate metrics in the Inclusive Economy Challenge. The climate leaders included individuals from sustainability consulting companies, renewable energy companies, and consumer packaged goods companies, including Deanna Bratter, Senior Director of Public Benefit and Sustainable Development at Danone North America.
Topics covered included how to measure scope 1, 2 and 3 greenhouse gas emissions; investing in carbon offsets and insetting to mitigate carbon emissions; procuring renewable energy; and setting targets and metrics for climate action. Each of the climate leaders committed to a follow up session with their attendees to help work through any challenges faced when starting to implement what was learned in the workshop.
Find other stories relating to climate change work by searching “climate” on B the Change.
5. Leading the Way
“I think the mission of business as a force for good was stolen from Rhino, because we actually came up with that in 1991 when we said ‘impact the manner in which business is done.’ B Lab just wordsmithed it,” joked Ted Castle, the 2018 Hal Taussig Award winner and founder of B Corp Rhino Roods, at the Champions Retreat Celebration Awards Dinner. All joking aside, under the leadership of Castle, Rhino Foods has implemented numerous programs that embody the B Economy spirit of inclusivity and innovation.
The Hal Taussig Award recognizes the work of B Corporation leaders who embody an aspirational spirit to create purpose-driven business. Hal Taussig was the founder of the travel agency and first-ever B Corp Untours, and Taussig was a benevolent leader in the fight against poverty.
Rhino Foods is a family-owned business with 30 years of experience in cookie-dough and bakery-style inclusions that power flavors created by delicacy giants like Ben & Jerry’s. More importantly, Castle has shifted the employee experience at Rhino Foods by creating a work culture that improves employee lives while improving the community, most notably through the Rhino Foods Income Advance Program.
Over the course of the evening, awards were also given to B Economy leaders who have demonstrated a remarkable commitment to building an inclusive economy and fostering interconnection. The 2018 B Economy Award recipients:
- Rose Penelopee Yee, Green Retirement
- Carla Heim, Business Development Bank of Canada, BDC
- Vanice Dunn & Raj Aggarwal, Provoc
- Jonathan Coleman, ASSETS
- Cameron Madill, Pixelspoke
- Elissa Hillary, Local First
- Keith Scott, A to Z Wineworks
- Lisa Hyman, GoodDog
- Indra Gardiner, I.D.E.A
Congratulations to all award recipients and attendees who helped make the event a success!