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What are B companies for Latin America and how do they contribute to the fashion industry?

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Written by Chadel ZS.

B Corps are meant to be the best FOR the world while being profitable, but what are the opportunities and value proposition present on the path to becoming a B Corporation and why are they important to the fashion industry? Redefining the sense of success of the economy so that it is measured by the well-being generated in people, society and the environment, is the purpose of Sistema B, a non-profit organization born in Latin America, which generates alliances and articulates the various actors that intervene in the market and society (companies, enterprises, investors, academia, opinion leaders, civil society), to co-create, in a systemic way, a more inclusive, equitable and regenerative economy for all, recognizing our interdependence with nature.


Among the available ways to achieve this change, we highlight the B Companies or certified B companies (B Corps), made up of 4 key elements:

  • Measure and verify its impact with a score greater than 80 points, through a certification process granted by an independent organization;
  • Improve the socio-environmental impact that they generate periodically;
  • Declare oneself part of a community of companies with common values;
  • Legally protect your mission in your statutes;

B Companies are for-profit entities committed to generating social and environmental impact through continuous improvement of high standards, criteria and good practices in the areas of governance, workers, community, environment and customers, thus contributing to the solution of major problems. They are part of "the new economy", the force of the market, represented by all sectors and industries, which have made the commitment to be part of the response to the identification that the State and non-profit organizations should not be the only participants in the solution of social and environmental problems caused by human activity and the model of sustained economic development.

Hence, the fashion industry, which encompasses various economic engines that include textile production, clothing, retail and its entire value chain, to name a few; participate and express your commitment in the co-construction of this new economy by being part of the community of certified B Companies, with representation of brands such as Patagonia and Toms, in the United States, Karum, in Chile, Sustainable Fashion and Ozeano, in the Dominican Republic .

As in any win-win relationship, this co-construction represents and generates opportunities and benefits that allow and improve the positioning of companies, retain and attract customers, talented collaborators, investors and strategic allies, who require linking with actors that are aligned with a purpose of positive impact and values ​​manifested through the transparency of its governance and its business model.

Among the characteristic elements of the B companies, I highlight the impact measurement, which is carried out through the B Impact Assessment or B Impact Assessment, a tool available online, through which companies can and in accordance with the sector, size and industry to which they belong, evaluate their social and environmental impact and, if the corresponding requirements are met, apply to the certification process.

The responsibility of solving social and environmental problems has given us presented the opportunity to redefine the development model that we as humanity have carried up to now. We have to rethink, who is the citizen, a citizen that we should be and what are the companies that we need to build this new model of sustainable development. The invitation is to be part of this co-construction through the creation and transformation of companies that can be supported by tools that allow them to identify what they are doing well and continue in the process of continuous improvement to generate comprehensive common welfare.

For more information: www.sistemab.org
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