B Corp companies are growing at an average annual rate of 30%
The B Corp movement, of which Transcendent is part, is consolidated in Spain, incorporating 63% more companies than in 2020.
Formed by companies that meet the highest standards of social and environmental performance, public transparency and legal responsibility, the B Corp movement continues to grow. In 2021, the increase was 63% compared to 2020.
Specifically, 31 new companies have been incorporated into the B Corp community in Spain and there are already a total of 110 companies that make up the BCorp community in our country.
These companies They grow on average annually by 30%, based on data from a sample of 700 European companies belonging to this business community.
The movement has also grown in other countries. In 2021, 947 companies worldwide obtained the BCorp certificate, 28% more than in 2020.
In total, the global B Corp community closes 2021 with 4,400 companies from 153 industries and 77 countries around the world. All of them add up to one turnover of more than 125 billion euros on an international scale, of which more than 5,000 million euros come from Spanish B Corps, according to the 2021 annual report just published bLab Spain.
Companies more committed to the environment and social development
B Corp companies are leaders in implementing practices that are more respectful of the environment and society in their companies.
In the matter of environment, 23% of the B Corps have reduced your emissions and 23% have partially or fully offset their emissions in 2021.
In addition, over the past year, they have managed to eliminate or divert nearly 3 million metric tons of waste. Along the same lines, 77% of B Corps use renewable energy, 70% carry out water conservation practices and 56% monitor and record their water consumption.
As for positive impact at the social and labor levels, 73% of the companies in the movement include women in management positions and in 45%, there are women in middle positions, thus promoting equality. In addition, more than 66% of these companies are committed to inclusion through the hiring of people who are part of vulnerable groups, about 90% offer additional financial benefits to their employees and about 70% of them offer paid time off to all or part of their professionals.
2022, the year of purposeful companies
As the study states”2022 ESG Trends to Watch” (ESG Trends 2022) promoted by MSCI, this new year sustainability will become even more important, especially ESG trends (Environmental, social and corporate governance, -Environmental, Social and Corporate Governance, for its acronym in English-). In recent years, these trends have not only been incorporated by companies from multiple sectors, but they have attracted the attention of investors and legislative bodies.
In addition, according to the First Business Purpose Barometer in Spain, prepared by APD and Transcendent, almost 70% of companies have a defined purpose. 84% of them are written and shared with employees and almost 9 out of 10 believe that they add value to the business and contribute to improving the company's profitability.
New legal figure for purposeful companies
In Spain, B Lab Spain, organizations and major personalities in the country, are claiming the creation of a new legal figure (“Societies of Benefit and Common Interest - SBIC”) that recognizes purposeful companies with the objective of promoting the transition to an inclusive, regenerative and sustainable economy in Spain.
In addition, in the future, companies will increase the measurement of the impact of their activity on environmental and social matters. Currently, there are already many companies that evaluate their impact through impact measurement and management tools. As Pablo Sánchez, executive director of B Lab Spain, explains, “more than 190,000 companies around the world already use Impact Assessment B, a free service that B Lab makes available to all companies to measure and manage their impact on society and the planet and that helps them to make decisions to improve their environmental and social indicators. And the future trend we're seeing is that this number will continue to grow.”
You can access the Annual memory.
