We just became B Corp certified again, marking our eighth year of being a business committed to people and planet. Read on for some B Corps FAQs, how we scored this time around, and what we're doing to keep improving.
What is a B Corp and what does it take to get certified?
As part of our commitment to be a force for good, we’ve been recertified as a B Corporation–a community of businesses committed to bettering people and planet.
To become certified, a business must first demonstrate a net positive impact on workers, suppliers, community, customers, and the environment. This means scoring at least 80 (out of 200) points in the B Impact Assessment.
What is a B Corp score?
A B Corp score is a performance indicator based on the B Impact Assessment, which consists of a series of questions about company practices and outputs across five categories: governance, workers, community, the environment, and customers.
We use the B Impact Assessment to identify, track, and learn about improvement opportunities here at Cotopaxi.
What is Cotopaxi's B Corp score?
Our current B Corp score is 125.6 (previously 93; average range is 80-100). In the past three years, we improved by 32 points, with the biggest improvement in our performance in terms of Workers, Environment, and Customer.
Our highest performance area is Governance–this is a result of our Public Benefit Corporation status, the emphasis on our Gear for Good® promise, our impact reporting to the board, board diversity, and our commitment to being a force for good.
At Cotopaxi, we’re committed to constant improvement. In particular, we’re working to decarbonize our supply chain and use even more sustainable materials. Every day, we strive to amplify our mission and take responsibility for any of the negative impacts we have upon the planet.
What are you focusing on now to improve your score?
Our biggest opportunity area continues to be Environment. Going forward, we're working on reduction mapping, decarbonizing our supply chain, and moving towards even more sustainable materials.
Why does being a B Corp matter?
Being a B Corp directly aligns with our business model of inspiring social and environmental change as a means to improve the human condition, increase social consciousness, and alleviate poverty. This ensures that we’re able to closely monitor our performance against our goals as the company grows and evolves.
What is the difference between a B Corp and a Benefit Corporation?
Both B Corps and Benefit Corporations are leaders of a global movement to use business as a force for good. The key difference between the two is that Benefit Corporations self-report performance standards, whereas B Corps are assessed and scored by the nonprofit B Lab. We’re proud to be both.
To learn more about B Corps and Cotopaxi's certification, visit our B Corp profile.
