The Electric Car Scheme is now B Corp Certified
It's been a journey, but after months of rigorous assessments, we are thrilled to announce our official status as a B Corp. We take immense pride in joining the B Corp community and it shows our commitment to being a force for good here at The Electric Car Scheme.
Becoming a B Corp was a logical step in our plan to make net zero the obvious choice for consumers and businesses alike. The desire for a net-zero future is universal, many are hindered by limited information, access, price, and complexity, impeding global progress. The urgency in achieving net zero is critical, as each tonne of carbon emissions contributes to climate change for centuries.
Over the past three years, we have got thousands of individuals to drive electric cars, with numerous businesses adopting The Electric Car Scheme supporting their employees on their journey to net zero. Switching to an electric car is a significant step toward achieving net zero. Thanks to electric car salary sacrifice, employees can enjoy 30-60% off any electric car, making them more affordable for all.
We'll give you information on B Corps, and what it means for The Electric Car Scheme, including insights into the process and our overall score! You can also view our dedicated B Corp webpage here.
What is a B Corp?
B Corp, which stands for Benefit Corporation, is like a gold star for businesses that want to do good. It's an accreditation that helps companies focus on their societal and environmental impact. B Corps show they care by not just chasing profits but also by making decisions that have positive effects on the world. In simple terms, B Corps are businesses that are a force for good.
The application process is rigorous, with only 8,000 businesses out of 200,000 applicants being certified. There are currently only 1,500 B Corp-certified businesses in the UK which is 0.027% of all companies.
“We’re pleased that this certification process is as rigorous as it is. We want our customers to be able to trust that when we say we’re trying to make the world a better place.”
To be certified as a B Corp means that we, at The Electric Car Scheme, are held accountable by a recognised network and that we stay focused on our mission to help people transition to electric cars.
How are B Corps measured?
The certification process typically lasts 6-8 months for small to medium-sized companies. It involves several steps: first, you assess your impact by answering questions about your practices in five categories—governance, workers, community, environment, and customers. Your performance is then compared to thousands of other businesses that have taken the B Impact assessment. Using the B Impact Assessment platform, you then identify, track, and learn about improvement opportunities and best practices over time.
Despite the time involved, becoming a B Corp is a strong signal of your commitment to making a positive impact on the world, and you become part of a community of like-minded businesses with shared goals and values.
“We built this company to help people make sustainable decisions affordably. Our goals and those of the B Corp movement are incredibly intertwined, so going through certification was a no-brainer, even if it took a lot of work. We’re delighted it was a success.”
Who certifies a B Corp?
B Corp certification is conducted by Standards Analysts employed at the non-profit organisation B Lab. These analysts are based in B Lab's offices across the world from Beijing, London, Melbourne, New York, Amsterdam and more. Oversight of the standards for B Corp Certification is provided by B Lab's independent Standards Advisory Council.
How did the B Corp movement begin?
Established in 2006 in the United States by three friends with a shared vision of making business a force for good, B Lab achieved a milestone in 2007 with the certification of the first 82 B Corps. In 2020, B Lab earned recognition as one of the Most Innovative Companies. The organisation firmly believes that fostering an equitable and inclusive work environment, along with maintaining a diverse and empowered global team, is crucial for accomplishing its mission of economic systems change.
What does it mean to be a B Corp?
As mentioned previously, being a B Corp means your business has been recognised as meeting the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose.
There are so many great reasons to be a B Corp, here are a few that stand out:
Employee engagement and attracting talent
B Corps have to consider the impact of their business on all stakeholders, including employees, who naturally see higher satisfaction and lower turnover rates among their certified workforce. Moreover, employees within B Corps tend to be more actively engaged in their work, demonstrating a robust commitment to the company's mission.
Notably, B Corps enjoy a favourable position in attracting top talent, as individuals are drawn to the prospect of working for a company actively contributing to a positive impact on the world.
Customer loyalty
As a B Corp, adhering to higher social and environmental standards requires transparent progress reporting. This fosters consumer trust, creating a loyal following and offering a competitive edge as people prioritise companies aligning with their values.
Increased brand visibility and investment opportunities
Certified B Corps receive significant visibility and media attention, aiding in the promotion of your company and its mission, and ultimately attracting new customers and investors. It also helps your company stand out and stand by your mission because it amplifies your voice.
Impact investors specifically seek companies making a positive global impact, making certification as a B Corp a valuable connection to this expanding market.
What companies are B Corps?
There are 1,500 B Corp businesses in the UK, here are some of our favourites:
The Body Shop is a household name as a beauty brand that pioneered the industry’s fair trade movement to source high-quality natural ingredients, packaging and accessories.
Odd Box combats food waste by rescuing “odd” or “excess” produce that doesn’t fit retailers' strict cosmetic specifications.
Patagonia is a great outdoor brand which aims to limit the ecological impact by making clothes that last for generations and cause no unnecessary harm to the environment.
Why has The Electric Car Scheme become a B Corp?
The idea behind The Electric Car Scheme came after its founder, Tom Eilon, returned to the UK from Canada and tried to lease an electric car using the Government’s tax incentive scheme.
After being offered overpriced lease deals & told that he could only access the tax savings if he employed 1,000 or more, Tom set about developing a way for smaller businesses to offer this benefit to their employees, and to make sure everyone got access to the best deals on the market. Thus, The Electric Car Scheme was born.
At The Electric Car Scheme, our goal is to make net zero the obvious choice. You can offer a cost-neutral employee benefit that gives employees access to the most affordable way to switch to an electric car. Together we’re speeding up our ability to tackle climate change by empowering others to make sustainable choices.
The Electric Car Scheme’s mission aligns with that of becoming a B Corp - especially in terms of the global movement towards a more inclusive, sustainable and fair economy. Being a B Corp also provides external verification that we are a business for good.
What is The Electric Car Scheme’s B Corp score?
To become a certified B Corp, companies have to have an impact score of 80 points across five different categories: Governance, Workers, Community, Environment, and Customers. The median score for ordinary businesses is 50.9. At The Electric Car Scheme, we surpassed this benchmark, scoring 104.3 and our goal is to score higher in the future. You can see the breakdown of how we scored for each category by visiting the B Corp page.
Governance
| Metric | Result | |
|---|---|---|
| Mission & Engagement | 3.5 | |
| Ethics & Transparency | 7.1 | |
| + Mission Locked | 10 | |
| Total | 20.7 |
Governance assesses a company's mission, social/environmental impact, ethics, and transparency. It also examines how well a company safeguards its mission and involves stakeholders in decision-making through its corporate structure or governing documents.
Mission Locked is an additional metric and is when a company with an Impact Business Model is internationally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment or customers
Workers
| Metric | Result | |
|---|---|---|
| Financial Security | 13.8 | |
| Health, Wellness & Safety | 7.5 | |
| Career Development | 6.4 | |
| Engagement & Satisfaction | 8.1 | |
| Total | 41.7 |
Workers assess a company's support for employees in financial security, health & safety, wellness, career development, and engagement & satisfaction. It also acknowledges business models favouring workers, like those with substantial non-executive employee ownership and workforce development programs aiding individuals facing employment barriers.
Community
| Metric | Result | |
|---|---|---|
| Diversity, Equality & Inclusion | 7.3 | |
| Economic Impact | 5.5 | |
| Civic Engagement & Giving | 0.8 | |
| Total | 15.7 |
Community assesses a company's involvement with and influence on its operating, hiring, and sourcing communities. It covers diversity, equity & inclusion, economic impact, civic engagement, charitable giving, and supply chain management. It also acknowledges business models targeting community issues, such as poverty alleviation through fair trade sourcing, distribution via microenterprises, producer cooperative models, locally focused economic development, and formal charitable giving commitments.
Environment
| Metric | Result | |
|---|---|---|
| Environmental Management | 2.0 | |
| Air & Climate | 0.0 | |
| Water | 0.0 | |
| Land & Life | 1.0 | |
| + Environmental Education & Information | 15.2 |
Environment assesses a company's environmental management practices and impact on air, climate, water, land, and biodiversity. It covers the direct effects of operations and, if relevant, impacts from supply chain and distribution channels. The section acknowledges companies with environmentally innovative production processes and those selling products or services with a positive environmental impact, such as renewable energy creation, waste reduction, land or wildlife conservation, less toxic alternatives, or environmental education.
Customers
| Metric | Result | |
|---|---|---|
| Customer Stewardship | 5.0 | |
| Total | 5.0 |
Customers assess a company's commitment to customers, considering product and service quality, ethical marketing, data privacy, and feedback channels. It also acknowledges products or services designed to address specific social issues for or through customers, such as health or educational products, arts & media offerings, services for underserved customers/clients, and those enhancing the social impact of other businesses or organisations.
To keep our B Corp certification, we need to continue documenting our positive impact on quality and undergo recertification every three years. This involves updating our impact assessment and verifying our updated score.
What B Corp certification means to The Electric Car Scheme
Hear from Thom Groot, our CEO and Co-Founder, as he shares what being a B Corp means for us at The Electric Car Scheme:
“This recognition represents not just a successful application; it is a testament to our dedication to transparency, accountability, and profound sense of purpose. We believe that, as a B Corp, we can inspire others in our industry to embrace responsible business practices, fostering positive change on a global scale.”
It enables us to create positive social change, make an environmental impact, and progress toward long-term sustainability.
Social improvement
People are crucial to our mission. We're committed to teaming up with businesses that treat their employees well, pay them fairly, and create safe and supportive workplaces.
Environmental impact
We want to work together to help the environment. It is important for the people we partner with to take steps to reduce their impact on the environment.
Long term sustainability
Saving the planet takes time and having a plan for the long haul can make a big difference. We insist the products we support are eco-friendly now and in the future.
Want to learn more about your business becoming a B Corp? Join our webinar on the 22nd of February for more information how you can do the same. Register your interest here.
