Reason to be Squeaky We’re a certified B Corp! So why that is a good thing? 30th July
Squeaky is certified as a B Corporation.
Becoming a B Corp was always something our founder, Chris Bowden aspired to when he started Squeaky.
This recognition is integral to our ‘squeaky clean’ values as a company, which are about fairness, transparency and doing business with integrity. It also marks another big step towards our vision of accelerating the world’s transition to 100% clean energy.
So what is B Corp?
B Corps are for-profit companies, which commit to create a positive impact on society and the environment through their operations. Basically businesses that want to do some good in the world, beyond making profit. Ben & Jerry’s and Patagonia, both famous for their sustainability credentials, are B Corps.
In order to become a B Corp, a company has to meet rigorous standards of social and environmental performance, accountability, and transparency. Certified by the independent nonprofit B Lab, it’s a little like a Fairtrade certification that goes well beyond cocoa and bananas.
The “B” in B Corp does not stand for anything specific, but here at Squeaky, we like to think of it as better business. That’s better on every measure - for customers, for employees, for the local community, and for the environment.
Achieving and maintaining this is a bit commitment, but we think it’s worth all the time and effort to become part of something bigger - a growing global community of innovative, ethical businesses.
Three reasons to become a B Corp
1. It’s good for your people
Recent studies have shown that B Corp status is affording businesses a competitive advantage.
Over a third of B Corps reported that they had attracted new audiences since certifying, and just under half of UK B Corps reported a recruitment boost, with prospective employees attracted by the ethical stamp of approval.
As the cultural shift towards conscious consumerism continues, becoming a B Corp gives your customers another reason to do business with you, while staff enjoy a renewed sense of pride in their work.
2. It’s good for the planet
Modern businesses struggle to get away with the take-make-consume-dispose model. It’s just not on. Commercial organisations are increasingly having to demonstrate a greater purpose, alongside a commitment to social and environmental issues.
Becoming a B Corp proves that your business is actively engaged in doing good, rather than simply mouthing platitudes about values. It shows you are taking steps towards a better future, that can only come from collaboration.
No company can tackle issues like climate change or resource scarcity alone. Joining the B Corp movement is about making a difference together. It’s about being part a community of like-minded businesses committed to fostering change collectively.
3. It’s good for your profits
Many businesses view profitability and sustainability as competing goals, one of which must be sacrificed in pursuit of the other. We disagree.
We’ve talked about two of the three important P’s, people and planet, but another important benefit of B Corp certification is in driving bottom-line growth, profit.
When the finance director is happy, everyone is happy…
Recertifying UK B Corps (B Corps have to recertify every 2 years) reported an average growth rate of 14 per cent, 28 times higher than the national average of 0.5 per cent.
Energy companies are also realising the significant advantages of a sustainable business model. 86% of UK consumers believe it is worth buying goods that are made using 100% green energy, and that 60% of consumers showed a preference for logos displaying a ‘green’ message.
Businesses across all industries are seeing the impact of these trends on their bottom line. We hope in the coming years, BCorp will become a powerful force within the energy industry, and the UK more broadly as consumers start to recognise the value of the movement.
Why not check out our blog Five reasons why growing businesses should go Squeaky clean ? You can find out more about why switching to clean energy is good for business.
Unfortunately the energy industry has more than one way to be dirty.
Our founder Chris Bowden has worked in the energy industry for nearly 30 years and during that time he has witnessed countless businesses stung by fluctuating rates, unethical renewal practices and terrible customer service.
Chris believed that industry shouldn’t and didn’t have to work in this way. So he started Squeaky to shake up the way the energy sector operates and become a force for good in the energy, and wider business community.
The Squeaky Clean way
Because we’re called Squeaky, we take our sustainability commitments very seriously. Our Code of Conduct ensures that our customers are treated in an honest and fair way. We make sure we only work with brokers or Third Party Intermediaries that are ‘squeaky clean’ in their operations.
‘Treating customers fairly’ is a term that gets thrown around a lot in the energy industry but for us it’s in the fabric of what we are trying to achieve.
You can find out more about our promise to always do ‘the right thing’ for our customers here.
“Our mission is about showing customers that buying clean energy is the right thing to do for the planet, communities and that businesses that do good, do well. B Corp is a big part of our story.”
Chris Bowden, Founder of Squeaky
How do you become a B Corp?
In order to become certified, you have to pass the B Lab Impact Assessment, which analyses the operations of a business as a whole and provides a score based on how the business conducts its operations.
This asks a series of questions to assess performance in areas such as Governance, Workers, Community and Environment.
Three steps to become a B Corp
- Complete the B Impact Assessment online. You must score at least 80 out of 200 points on the tool
- Make sure you meet the legal requirements and work on what amendments you can make if you don’t currently
- Sign the B Corp Declaration of Interdependence and Term Sheet, making your status official
If your business is considering becoming a B Corp, you can find out more here.