Recently, FE looked at some top-performing food and beverage companies practicing responsible water sustainability. But another metric shows that food and beverage companies are performing well in terms of sustainability, and this is called “B-Corp Certification.”
The U.S. ranked the highest in B-Corp Certification. Data courtesy MoneyTransfers.com
According to a recent study from MoneyTransfers.com, the U.S. has the highest number of B-Corp businesses in the world (1,343), and of those businesses, the food and beverage sector comprises 193, which is the highest of any industry in the U.S.
Worldwide, the food and beverage sector accounts for 495 businesses, which is the highest number of all business sectors on a global scale..
The food and beverage sector has the highest number of B-Corp Certifications when compared to other sectors. Data courtesy DataTransfers.com
MoneyTransfers.com sought to establish the country with most B-Corporations by searching the official database Bcorporation.net. The total number of corporations were then grouped by industry and country and ranked from the highest to the lowest.
What is a Certified B Corporation?
According to Bcorporation.net, “Certified B Corporations are leaders in the global movement for an inclusive, equitable, and regenerative economy. Unlike other certifications for businesses, B Lab is unique in our ability to measure a company’s entire social and environmental impact.”
B Corp Certification is a designation that a business meets high standards of verified performance, accountability and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials.
According to Bcorporation.net, to receive certification, a company must:
- Demonstrate high social and environmental performance by achieving a B Impact Assessment score of 80 or above. Multinational corporations must also meet baseline requirement standards.
- Make a legal commitment by changing their corporate governance structure to be accountable to all stakeholders, not just shareholders, and achieve benefit corporation status if available in their jurisdiction.
- Exhibit transparency by allowing information about their performance measured against B Lab’s standards to be publicly available on their B Corp profile on B Lab’s website.
MoneyTransfers.com found that food and beverage was the most sustainable with 495 out of 3,847 B Corps worldwide analyzed in this sector. In fact, the industry has the biggest share of certified businesses across half of the top 20 countries in the study. Ben & Jerry’s and Rude Health are a few examples of these certified B-corporations.
For more information on the study, visit https://moneytransfers.com/news/content/countries-with-the-most-b-corp-businesses