Fairware is a founding Canadian Benefit Corporation (Certified B Corporation or B Corp). B Corps make up a large portion of our businesses and the community of B Corps is instrumental in keeping us inspired and motivated. We thought we’d share some of the reasons and benefits to become a B Corp based on Fairware’s experience.

What is a B Corporation?

Certified B Corporations are recognized as using the power of business to solve social and environmental problems. The formal definition of “Benefit Corporation” says Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.

At Fairware, we’ve been committed to using business as a force for good from day one. We were certified in 2010 and to become a B Corporation, Fairware had to achieve 3 things:

Take and pass the B Impact Rating System which sets a benchmark for the social and environmental impact of good companies. Adopt the B Corporation Legal Framework to incorporate the mission of Fairware into our legal structure. Sign a Term Sheet that makes our certification official.

How many B Corporations are there?

There are over 2,500 B Corps around the world (in more than 50 countries). Collectively, the B Corp community uses a common framework to drive social and environmental change by using their businesses as a force for good in the communities and countries where they operate. The list of B Corps is impressive, from global brands like Danone to leading sustainability business leaders like Patagonia, Ben and Jerry’s and over 200 Canadian Benefit Corps.

5 Benefits of Becoming A B Corp

Our experience of being a B Corp has tangible benefits for our company – it’s been a great fit for us.