The Business Development Bank of Canada (BDC) has established a partnership with B Corp certification to increase the pool of socially responsible businesses.
As part of this partnership, BDC will have dedicated staff focused on developing the B Corp movement in Canada. To obtain B Corp certification, companies have to meet the highest standards in terms of mission, transparency and accountability, making it possible to see how their economic, social and environmental performance stacks up compared to other companies. B Corp certification may be a deciding factor when it comes to choosing a company to buy from, invest in or work for. BDC itself became a certified B Corporation in 2014, making it the first Canadian financial institution to receive this certification. A few certified B Corporations in Canada include the renewable energy provider Bullfrog Power, the cleaning products manufacturer Baleco (top photo) and the hemp foods manufacturer Manitoba Harvest.
BDC will lend its support to B Lab, the organization in charge of managing and promoting the B Corp movement, to help certify new B corporations in Western Canada and encourage the over 42,000 small and medium-sized Canadian businesses in the BDC network to measure their environmental impact against the B Corp standards. Local meetings and other conferences will be jointly organized to create greater awareness of the certification.
« Since the day they [BDC] certified, they have embraced the B Corp Movement as their own. This commitment of resources showcases their leadership and drive to redefine success in business», said Joyce Sou, the director of B Lab Canada.
With over 165 certified businesses, Canada is the second largest B Corp community in the world. British Columbia and Alberta are home to 35% of the certified businesses in Canada.