Tanya Steinhofer No Comments

In honor of B Corp month in March, it seemed a good time to share what it means to be a Certified B Corporation and why it matters to us and our clients. Redwood Grove Wealth Management became a Certified B Corp in late 2019.

What is a B Corp?

B Corp certification is awarded to companies that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy. A rigorous re-certification process is required every three years. There are currently more than 3,500 Certified B Corporations in 71 countries.

Why did we become a B Corp?

The simple reason we decided to go through the certification process to become a B Corp is that it aligns well with our corporate value of Beyond Yourself. We believe in making the world a better place by serving as a steward of the environment and our community. The certification process has helped us reflect on our choices in areas including vendor selection and evaluation, energy and water use, work travel practices, charitable giving, and employee policies. Certification also encourages continuous improvement through inclusion in a community of like-minded businesses and through the re-certification process every three years. Since becoming a B Corp, we’ve made several changes to better serve all our stakeholders, including:

  • Joined One Percent for the Planet, which requires us to give 1% of revenue to environmental non-profits each year.
  • Committed to giving at least 1.5% of revenue to charities (including environmental ones) each year.
  • Implemented an employee policy providing 8 hours of paid leave per month to volunteer at non-profits of their choice.
  • Introduced a Virtual Office Stewardship and Hazardous Waste Disposal policy for employees.
  • Increased the percentage of our client assets invested in sustainable and Environmental, Social and Governance-screened (ESG) investments.

We hope that we’ll continue to improve in the metrics measured by the B Corp certification process, reflecting our commitment to taking into consideration all our stakeholders, not just our shareholders, in our decision-making process and business operations.