Fenton is a certified B Corporation!
After many months in the making, we’re delighted to be able to share that we’re now a certified B Corporation! This makes us one of the very few jewellers in the world to be B Corp-certified.
But let’s unravel together what being a BCorp means and how we can support the BCorp movement and other BCorp certified businesses in the UK and worldwide.
What is a B Corp
A Certified B Corporations is a business which meets the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. The aim being to address society’s most challenging problems, which cannot be solved by government and nonprofits alone.
For example, the B Corp community is working toward reduced inequality, lower levels of poverty, a healthier environment, stronger communities, and the creation of more high quality jobs with dignity and purpose - all things which are super important! In fact 72% of people in the UK agree that businesses should have a legal responsibility to people and the planet, alongside maximising profit!
By harnessing the power of business, B Corps use their profits and growth as a means to a greater end: positive impact for their employees, communities, and the environment.
The B Corp movement was launched in the UK in 2015, with 42 founding companies. Since then the movement has grown exponentially, passing the 400 businesses milestone in 2020. And around the world there are now over 3500 B Corps!
So why did we become a B Corp?
As you may already know, Fenton was founded on the principle of doing this differently and bringing transparency and traceability to the jewellery industry.
Since day one, our goal has been to make an impact at every point of the business, from the ethical sourcing of our sparkling gemstones, using recycled materials and no-waste production processes, to providing safe and equal job opportunities.
So when it came to getting B-corp certified, it was a pretty easy choice! We were delighted by the wonderful work we saw the community were doing, and couldn’t wait to become a part of it, to join the collective movement and accelerate change across the UK and around the world.
“We are so honoured to now be one of the 450+ amazing companies operating as a certified B Corp in the UK. Building a business that is able to balance its profits with the greater good, has been at the core of what we do at Fenton since day one. The B Corp certification is now able to make official the amazing work the entire team contributes to bringing radical transparency to the jewellery industry. We couldn't be prouder.” Laura Lambert, Founder of Fenton
Which business are B Corporations?
We’re in pretty great company! And we’re pretty sure you will be familiar with some of the other incredible brands who are part of the B Corp movement!
Here’s some of our favourites which we recommend checking out:
- Pip & Nut: Delicious palm-oil free nut butter.
- Tom’s: Shoes with a positive impact - 1/3rd of all profits go to Grassroots Good.
- Dame: Sustainable period products.
- Oddbox: Saving ‘odd’ fruits and vegetables from landfill.
- Allbirds: Sneakers made from sustainable fabrics.
- Lily’s Kitchen: Pet food with honest, natural ingredients.
- Who Gives a Crap: Toilet paper which gives 50% of profits to Water Aid.
- The Collective: Artisanal diary and dairy alternatives.
- Toast Ale: Craft beer made from surplus bread.
- Ella’s Kitchen: Nutritious and ethical food for children.
- Ben & Jerry's: Ice cream with a purpose.
- Patagonia: Outdoor attire - “In business to save the planet”
- Innocent Smoothies: Sustainably sourced, fruit smoothies and more.
How to become a B Corporation
Well it's a pretty rigorous process. Aspiring B Corps need to complete the ‘B Impact Assessment’ which measures a business impact across 5 different areas:
Evaluating the company's overall environmental stewardship, including how the company identifies and manages general environmental impacts - such as air and climate issues, water sustainability, and impacts on land and life.
Looking at the company's overall mission, ethics, accountability and transparency. This includes an assessment of corporate boards and governing bodies, codes of ethics, financial metrics, as well as corporate forms and amendments that consider stakeholders regardless of company ownership.
Evaluating the company's value to their direct customers and the consumers of their products or services. Companies are recognised for their contributions to education, infrastructure, underserved communities, society and the environment, health and wellness and more.
Considering the company's contribution to its employees' financial, physical, professional, and social wellbeing. Companies are assessed based on financial security for their workers; the health, wellness and safety of their employees; employee satisfaction; workforce development efforts and available career growth opportunities.
The area evaluates the company's positive impact on the external communities in which the company operates. Companies are assessed based on local and national economic impact, poverty elimination, diversity, equity, inclusion and justice, charitable contributions and more.
Businesses must then provide detailed evidence to support each of these and how they’ve demonstrated these over at least the past 12 months. They then receive a score based on this, and only those with the highest score are accredited.
How can you support the B Corp Movement?
We encourage everyone reading this to discover more about the B Corporation movement, and to actively seek to support those businesses which have completed the rigorous certification process. Through doing this you're able to support the incredible work they are doing in driving societal and environmental change around the world.
Another great thing you can do is to support changes to legislation. B Corp UK is doing some amazing work, with the help of the over 400 businesses to drive legal change in the UK to require all registered businesses to have to meet higher ethical and sustainability standards. Sign petitions, write to your local MP - let people know that you care!
You could also contact the brands you love, ask them what they’re doing and how they measure their impact. Ask them to join the movement. The global impact of this movement will be huge, and the actions of every business help to accelerate this.