Ivy Marie is proud to announce that we are officially a Certified B Corporation. This comes after achieving B Corporation Pending status and undergoing the B Impact assessment.
What is a Certified B Corporation?
Certified B Corporations are businesses that balance purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. This is a community of leaders, driving a global movement of people using business as a force for good. B Corp Certification is the only certification that measures a company’s entire social and environmental performance. From a company’s supply chain and input materials to their charitable giving and employee benefits, B Corp Certification proves it’s meeting the highest standards of verified performance. There are three pillars of B Corp Certification – performance, legal, and transparency – and companies must meet all requirements that fall under these pillars.
How Do Businesses Go From Pending to Certified?
A startup can graduate from Pending to Certified status if it has a verified score of at least 80 on the B Impact Assessment within 12 months after securing Pending status. To get that verified score, the company must update the prospective BIA it completed when applying for pending status and complete an assessment review via phone with a B Lab representative, after which time the company will receive an updated score. If that updated score is over 80, B Lab will select certain questions and ask the company to provide documentation for the answers it provided. If the final score is still over 80, the company moves to Certified status after paying the applicable annual fee.
What is the B Impact Assessment?
The B Impact Assessment is a digital tool that measures a company’s social and environmental positive impact. Businesses complete the assessment by answering a series of questions about their company’s practices and outputs across five categories: governance, workers, community, the environment, and customers.
- The governance category evaluates a company’s overall mission, engagement around its social/environmental impact, ethics, and transparency.
- The workers category evaluates a company’s contributions to its employees’ financial security, health, and safety wellness, career development, and engagement and satisfaction.
- The community category evaluates a company’s engagement with and impact on the communities in which it operates, hiresss from, and sources from.
- The environment category evaluates a company’s overall environmental management practices as well as its impact on the air, climate, water, land, and biodiversity.
- The customers category evaluates a company’s stewardship of its customers through the quality of its products and services, ethical marketing, data privacy and security, and feedback channels.
What is Ivy Marie’s B Impact Assessment Score?
Ivy Marie earned an overall score of 101.4 out of 250. The median score for businesses who complete the assessment is currently 50.9. Areas where we scored over 50 percent are listed below and are our core strengths and areas of focus.
- Impact Business Model
- Diversity, Equity, and Inclusion
- Civic Engagement and Giving
- Economic Impact
- Toxin Reduction/Remediation
- Land and life
- Customer Stewardship