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B Corps, More Than You Might Think

There are a couple of common responses to the question, “what sort of company do you consider a B Corp?” We still get a lot of “err… what exactly is a B Corp?” If you’re in this crowd, please read our B Corps: The Future of Business? article to avoid embarrassment in the future!

 

After that, answers we hear most frequently are – minus mentions of Patagonia and Ben & Jerry’s – businesses in the health and fitness sector and perhaps makers of ethical apparel. These are valid and worthy mentions. We love Patagonia and Ben & Jerry’s; they’re huge icons of the B Corp movement and prove the magnitude a business can achieve even when putting purpose before profit. We also agree that from Golde in the health-food sector to Rapanui making awesome recycled clothes, there are lots of B Corps that are leading the way in sustainability in these industries.

 

Do you know what we never hear when we ask “what sort of company do you consider a B Corp?” “Hotels!” and “The banking sector!” Despite a lack of public awareness about B Corps in these industries, that doesn’t mean that they don’t exist.We won’t explain whether or not your business should become a B Corp, we recommend, ‘Should Every Business Be a B Corp’ for your consideration.

 

In this article, we’re going to look at a few different industries that prove that you can listen to every stakeholder and succeed whether you sell organic juices or interest-free loans. We’ll also mention one or two of our favorite companies in each industry to shine a light on these businesses that also deserve a pat on the back for considering compassion over dividends.

image of little girl statue in front of bull
Corporate giants are becoming increasingly anxious about the rise of conscious-consumers and thus the power of B Corps

Banking

If there’s one industry where most of us would never consider finding a B Corp it’s in the banking sector. Considering the greed that’s associated with this industry, it’s hard to fathom that an altruistic B Corp could survive in this market, never mind making the old guard nervous. A B Corp Bank sounds as great of a juxtaposition as Greenpeace sponsoring the next oil well. On that note, banking is probably one of the most important industries that could do with a bit of a B Corp influence. As consumers we’re becoming ever more mindful of which companies we spend our dollars at, but “being a thoughtful consumer doesn’t stop with where you choose to spend your dollars. It also matters where you choose to save them.”

 

Thankfully, we’re seeing a few more socially responsible banks make great headways both in the US and internationally. We’re seeing a rise of community development banks that can “strengthen local communities, support good green businesses, and lift families out of poverty.”

 

With a policy of reforestation, and never using deposits for financing fossil fuel projects, Aspiration lives up to its name. Amazingly, every $1,000 you transfer to Aspiration from Big Banks has the annual planet-saving climate impact of up to 6,000 fewer miles driven by the average car.

 

Another brilliant bank is Charity Bank. Sometimes regular banks don’t lend (or at high-interest rates) to charities and social enterprises – primarily due to uncertainty on their likelihood of making a profit. Charity Bank lends solely to social purposes. According to B Corporation, “almost two-thirds of the projects financed by Charity Bank would not have gone ahead otherwise.”

 

We’re also going to give a special mention to our friends at Beneficial State Bank. Banking with this company ensures that your money goes towards environmental protection and affordable housing. We’ve got to say it does feel better knowing our deposit go to “social justice outcomes” rather than being “used to launder money for criminal networks.”

B Corps and banking is a relatively new concept and we can’t wait to witness the innovations and social uplift the future can bring with more purpose-driven banks.

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Banking on success? Charity Bank is showing how financial institutions ought to operate

Hotels

There are many awards and certificates that a hotel can win to prove its excellence and attract new customers. People flock to one with amazing Trip Advisor reviews and an AA five-star rating puts the hotel on the dream list for the ultimate vacation. With the ethical-consumer market ever-growing, there’s a new distinction many hotels are looking to obtain to prove their credentials: the B Corp certification. Their reasons for joining are wide-ranging: improved reputation, talent attraction and retention, investor interest, as well as their concern for the environment and to protect their workers.

One famous hotel that is a proud B Corp is Hotel Carlota. Carlota is situated in the heart of the historic district of Quito in Columbia. This is the first hotel in Columbia to obtain the LEED Gold certification and the first to become a triple impact B company. That should help you relax in their luxurious spa!


With the pandemic still raging, we know going abroad can be a bit problematic. For an amazing B Corp a little closer to home, we can’t recommend Legacy Vacation Resorts highly enough. The hard part is deciding which of their amazing family-run resorts to choose from. They deliver outstanding service in each of their locations – Florida, Colorado, Nevada, and New Jersey. Being a B Corp, Legacy Vacation Resorts always helps fellow hoteliers be as sustainable. As the company states: We have a “responsibility to offset the consequences of our actions and to be regenerative where possible.”

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Five stars is one thing but being a B Corp certified Hotel is the true sign of excellence!

Insurance

Right, enough about luxury hotels. Let’s talk about something far more exciting, insurance. Okay, okay, we get it. Nobody puts insurance down for their hobbies and interests but that doesn’t stop it from being really important. To be fair, the innovations and trustworthiness of B Corps make the future of insurance pretty tantalizing… honestly.

 

G2 Insurance became California’s first B Corp insurance broker. It specializes in Commercial insurance and builds a web of partners and clients who share a common identity of wanting to make the world a better place. By using green and environmentally-friendy partners they’re helping to drive the change.

 

500% growth, 10% market share, ranked #1 by consumers.” Lemonade is making the old insurance giants scared of this B Corp newcomer. This start up focuses on transparency and trust – two things consumers don’t often associate with the insurance industry – to pave the way for insurance to be seen as a popular product, rather than a necessary evil. 

 

As a B Corp “the company produced more than $1 million in donations in 2020” and as Lemonade co-founder and CEO Daniel Schreiber told Forbes, Lemonade and other insurance B Corps are “solving an absolute business challenge, which is that insurance companies are deeply distrusted.”

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What’s the point in life insurance if it doesn’t support the life of our planet?

Everything in Between

Then there’s everything else. Industries you didn’t really think about and niche fields that prove B Corps can be found just about anywhere.

 

Do you know the company that won ‘Best in the World’ as a B Corp with more than 250 employees? Before you say it, nope it’s not the most famous B Corps we mentioned in the intro. It’s actually an Argentine company, Cook Master. They provide large-scale meal preparation to those who do not have the facilities for such operations. Being a B Corp, Cook Master wasn’t satisfied with only having a profitable company. They strove to make a difference in their community. So far, 1400 incarcerated people have been granted the opportunity to study Gastronomy within the Buenos Aires Penitentiary Service Units among other inspiring programs to help those seeking a second chance in life.

 

A lot of chatter is directed towards these big companies. B Corps that are leading members in their fields to prove that a B Corp can make it big. This can be misconstrued as only those at the top can make it. Nothing could be further from the truth. Harvey Strategic won the award for the best B Corp with fewer than five employees. This is a small but mighty team who are dedicated to helping other ethical businesses suceed.

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Cook Master is a B Corp we should all know more about. It proves B Corps can work in every industry

The Last Word

We love B Corps! DGW Branded is a proud B Corp and and we support ethical companies who are looking to make a difference. Because they are transparent, committed to environmental concerns, and are legally bound to support their employees, we think everyone should support B Corps. While we see more conscious consumers than ever support B Corps when shopping, we can forget that B Corps not only come in all shapes and sizes but are found in just about every industry. As we’ve seen in this article there are some brilliant B Corps from hotels to banking so no longer are there any excuses to support insidious companies now we know there is always a B Corp alternative.


If you require further proof that the B Corp philosophy can have success in purpose as well as profit we recommend, B Corp Certification Is Possible For Any Business, for your next read.


As you probably already know, DGW Branded is a B Corp. We have a range of products to deliver customized products for business needs. Now you know a little more about some of the ways a B Corp can go that extra mile, you’re probably wondering how we go further than traditional businesses to support our community. Check out our ‘about us’ page as we proudly support those in the foster care system. You are also more than welcome to contact one of our experts if there’s anything we can assist you with for your business needs.

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