The New Growth Criteria: Social Impact & ESG (Environmental, Social, Governance)
Consumers have never had more access to information on how your business operates: where your supply chain is centred, and how your business behaves in our community.
Having a superior product or service remains central to being successful. However, creating a positive Social Impact in the community by incorporating environmental, social and governance metrics into your operating plan builds Social Capital, which has a dramatic effect on customer engagement, satisfaction, loyalty and profitability – Community Capital.
The most effective way to communicate your business’ Social Impact to your customers is by having 3rd party certification that verifies your Social Impact:
B-Corp Certification is a designation that a business is meeting high standards of verified performance, accountability, and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials.
Certified B-Corps are leaders in the global movement for an inclusive, equitable, and regenerative economy. Unlike other certifications for businesses, B-Lab is unique in their ability to measure a company’s entire social and environmental impact.
Climate Smart Certification is for businesses of all sizes across all sectors. Whether you’re just dipping your toes into sustainability or you’re wanting to take your climate commitment to the next level, Climate Smart training & certification will help you:
- Understand your current climate impact
- Improve your environmental metrics
- Reduce your carbon footprint and cut costs
- Stay competitive and keep innovating
The Living Wage Employer Program recognizes and celebrates employers that pay their direct and indirect employees a living wage. In order to become a Living Wage Employer employers must agree to ensure that all direct employees and contractors are paid the current living wage rate for their area within six months of a successful application.
Living Wage Employers are seen as responsible employers who care about their employees and the community. They recognize that paying a living wage constitutes a critical investment in the long term prosperity of the economy by fostering a dedicated, skilled and healthy workforce.
LOCO BC works to build stronger communities using applied research of the policies and practices of a fair and just economy. Businesses who want to join the LOCO BC community need to be advancing best practices in employment, purchasing, environmental stewardship, and other values. Businesses who join the community will have access to the below resources, and more!
- Be listed on their directory which is used by BC businesses, institutions and government departments to source
fromthe best local suppliers.
- Have an opportunity to measure and promote your impact through their Community Impact Assessment.
- Receive BC Buy Local campaign materials: in-store branding, media, social media and advertising opportunities for consumer-facing businesses.