What is a B-corp?
There are many who believe, as economist Milton Friedman famously said, that profit is a company’s only purpose. Well, we’ve seen what this approach has led to: environmental devastation, terrible working conditions, and massive income inequality. But the non-profit organization called B Lab has devised a way to help push industries forward. Certified B Corporations form a global community that is working to accelerate a societal shift towards a new type of business. One that sees social responsibility to people and the planet as being at the core of a company’s purpose.
B-Corp Certifications ensure that:
- Companies are being constantly evaluated for their impact on employees, environment, community and customers using the B Impact Assessment
- Companies are adhering to the highest standards of verified social and environmental performance
- Companies have adjusted their legal structures to balance profit and purpose, not serving only shareholders
- Companies maintain complete transparency in operations from supply chain to customer
- Companies can be trusted on claims of working towards the greater good
What does it mean to be a b-corp?
B Corporations function on the premise that collectively, we have the power to create the future we want to live in.
All B Corporations adhere to these beliefs:
- That we must be the change we seek in the world.
- That all business ought to be conducted as if people and place mattered.
- That, through their products, practices, and profits, businesses should aspire to do no harm and benefit all.
- To do so requires that we act with the understanding that we are each dependent upon another and thus responsible for each other and future generations.
Living Up to Expectations - What Makes us a B Corp?
As a business, we are responsible for the messes we make. That’s why our goal is to become climate neutral by the end of 2021. Already we are utilizing revolutionary materials, like vegan leather made from recycled windshields, helping to create green tech with our ultra-advanced solar panels, and constructing new manufacturing models that drastically reduce pollution caused by shipping and plastic packaging.
[Pictured above: The Recycled Edition of The Parliament Wallet, using vegan leather made from recycled car windshields.]
Ekster welcomes, cherishes and admires people from all walks of life, regardless of religion, gender, sexuality, race or any other social strata. We understand that inclusivity isn’t just necessary but beneficial, offering us new understandings and ideas that add immense value to our business.
Perhaps most importantly, we see our purpose as a business not to amass profit for those at the top, but to make the world a better place for everyone. We try to offer a range of products that are attainable to people from different financial backgrounds, share any technological breakthroughs with others in our industry, and include more than just shareholders in our financial success.
For too long, corporations have gone unchecked by the government, who often leave businesses to regulate themselves. In a sense, it’s like leaving a toddler in charge of how much candy they will get to eat. We realize that businesses need a guiding force and someone to hold them accountable to the promises they make. When we receive our B Corp Certifications, we will join a community willing to commit to constant evaluation in order to push our economy forward as a whole, making ethical business the standard, not the exception.