What’s your score? And why it matters.
Deborah Fowler, Local expert in luxury real estate
How does your company rate in terms of accountability, impacting change and putting people and community first?
You can measure your company’s impact on your workers, community, environment, and customers with a free assessment tool at https://bimpactassessment.net/. The average company scores 40 out of 200. To become a certified B Corporation, a company requires a minimum verified total score of 80 across all impact areas.
If you’re doing business locally in Colorado and/or the USA, achieving B Corporation certification can be a key differentiator.
One of our IBC members, Deborah Fowler, just recently completed the arduous process of achieving this for her company, DRF Team, Colorado Landmark Realtors (DRF Team). At the time of going to press, there is only one other residential real estate company that is B Corp registered in the whole of America, they are headquartered in Oregon and have an office in Denver. There are a few commercial real estate companies but not residential.
Deborah’s company is at the forefront of an important business trend. Certified B Corporations are a new kind of business that balances purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. This is measured in their social and environmental performance, public transparency, and legal accountability. Some well-known brands are B Corp –, Athleta, Danone, Eileen Fisher, Patagonia, Uncommon Goods, The Wallaroo Hat Company and WordBank to name a few.
We chatted with Deborah about her motivation for pursuing this unusual status.
Why is this important?
Clients and employees expect more from businesses these days. They want to see socially responsible companies making the world a better place, not just making a profit. The marketplace is asking for great ethics, transparency, thoughtful investments in employees, careful choice of suppliers, positive benefits to the community, and a small environmental footprint. It gives an extra level of reassurance that they are doing business with people that really care.
What initially motivated you to pursue B corporation certification for DRF Team?
The idea grew from a conversation over lunch with Niwot resident Tommi Wolfe, my business coach. Tommi suggested it as something I should investigate. I thought, we’re already doing this. We just haven’t been documenting it. We love doing things for our community and philanthropy. And we’ve always been committed to helping the environment. It just made sense.
How long did the process take overall?
Though the process varies somewhat, depending on company size, DRF Team’s certification process took about 18 months to complete. It involved a rigorous amount of information gathering on our environmental practices, our social contributions to the surrounding community, and our company’s impact on employees and customers. We learned a lot about what we had been doing and what we could be doing to improve our impact on the local community and the environment. For example, we implemented new recycling practices and added hybrid vehicle incentives for our employees. We had always made it a priority to support local businesses and suppliers where possible but it definitely made us more mindful about it. We also proudly support local community-based charities and the arts like Community Food Share and the Boulder Symphony. I also want my office to be a fun place to work.
How did your colleagues and employees respond to the idea?
They were proud to be a part of it. Their response was very positive. As I stated before, we’d already been practicing a lot of what is required to be awarded B Corporation status. So, it was a natural progression for our company. DRF Team turns off all lights and unplugs monitors at night; we have eliminated our use of single-use plastics and only use reusable materials; we have committed to reducing waste by 10% annually, donating shredded paper to the local humane society for bedding; all paper and recyclable plastics are recycled; we have also installed compost bins and make weekly trips to the local compost collection point.
What benefits do you and your company expect to see as a result of becoming a certified B Corporation?
Integrity is very important to credibility in real estate. Being awarded B Corp status has added an extra layer of reassurance for our current and potential clients that they are dealing with people that truly care, have integrity and are about people not just profit. Having this verified and signed off by a third party is the icing on the cake.
I challenge other businesses in the IBC community to take the free assessment on how they rate and, ultimately, to becoming B Corps too. Feel free to ask me more about this.