At Blue Rock, we’ve always been about more than strategic financial advice.
That’s why we’re on a new journey that takes us beyond accounting, law, and wealth management, but one that will nonetheless hearken to the work we’ve done in the past, and strengthen our efforts going forward.
Blue Rock is on a quest to become B-Corp Certified.
But just what is B-Corp certification? Well, we’re glad you asked!
What is a B-Corp?
Patagonia. Etsy. New Belgium Brewing. Ben & Jerry’s.
They’re all B-Corps—just a few of nearly 1,300 worldwide, spread amongst more than 40 countries and over 120 industries.
What brings all these disparate business entities together? A single, unifying goal, actually:
Creating a positive impact the world over.
Becoming a B-Corp certified business means reevaluating what “success” in business entails. Revenue and profit are great, sure, but at Blue Rock, we’ve always felt there was something more to aspire to—the opportunity to create a greater prosperity for all.
B Corp companies hold themselves to a higher standard in the areas of social and environmental impact, transparency, and business governance. It’s a standard Blue Rock admires, and we’re now on a quest to achieve it.
How Does a Company Become B-Corp Certified?
There are three primary steps to becoming a Certified B Corporation.
Step 1: Achieve Performance Requirement. Interested businesses must complete the B Impact Assessment to become a Certified B Corporation. The assessment gauges the impact of the company in question on its stakeholders, and relies on the business to provide candid responses regarding social and environmental initiatives.
Businesses must score a minimum of 80 out of 200 points on the assessment in order to achieve B-Corp certification. The assessment must be completed and passed every two years in order for the business to remain a Certified B Corporation. Additionally, 10% of all certified companies are selected randomly each year for an on-site review.
Step 2: Achieve Legal Requirement. All New Zealand and Australian corporations seeking B-Corp certification must sign a contractual terms sheet with B Lab Australia & New Zealand.
Step 3: Sign the Declaration. Companies “make it official” through signing the B Corp Declaration of Interdependence.
What Blue Rock is Doing
We’re currently upping our game and preparing to ace our B Impact Assessment.
Part of that involves working with and supplying patronage to companies with like-minded ideals… businesses that are focused on social and environmental initiatives. In our quest to become B-Corp certified, we believe we can—and should—learn from others. As such, here are the B-Corp companies we now support at our office:
Stone & Wood Brewing Company. We stock Stone & Wood brews around the firm. Why? Because Stone & Wood is dedicated to supporting the community-at-large. In 2013, they launched “Ingrained,” a community initiative laser-focused on supporting the people that support their business. Stone & Wood believes in “Beer as a Force for Good,” and we couldn’t be more appreciative of their products.
Thankyou Water. Thankyou is more than just an Australian bottled water company—they’re a social enterprise that believes in eliminating global poverty. They’re so determined, in fact, that 100% of all their profits go towards securing safe water, sanitation, food and child & maternal health programs for those lacking these life essentials. As of October 2016, they’ve donated 4.8 million to those in need. As such, the only water you’ll find in our meeting rooms is from Thankyou.
Streat. We love using Streat Coffee beans in our coffee machines, but more than that, we really dig what they’re doing to help our country. Streat understands that 1 in 10 Australians will suffer from homelessness at some point in their lives, and to combat this, the company is providing real world experience and vocational training & support to hundreds of our youth each year that need a little extra help getting started along the right path. It’s a truly exceptional effort.
Through the initiatives and collaborations detailed above, as well as the many to come, we at Blue Rock aim to move beyond being your everyday advisory firm. Because of all the things to invest in, investing in people is the greatest opportunity of all.
By Ricky Jessop