Launched in 2016, the Inclusive Economy Challenge is a voluntary challenge for the community of Certified B Corporations to improve our collective impact and move toward an inclusive economy. It provides businesses with a focused, relevant and timely call to action, targeted resources and a structure for peer learning and accountability to help participating companies tackle complex and sensitive issues.
Over the past year, the 800+ other global B Corp companies committed to improving 3 areas of inclusivity based on the three pillars of an Inclusive Economy: Equity, Diversity, and Inclusion. We are honoured to participate in this challenge with other B Corps around the world, but more importantly, to provide a more inclusive environment to all employees, clients, and community.
An Inclusive Economy is one that is equitable and creates opportunity for all people of all backgrounds and experiences to live with dignity, to support themselves and their families, and to help their communities thrive. An economy that is equitable and creates opportunity for all for the long term. An inclusive economy looks like a living wage for all workers. An inclusive economy looks like a boardroom and management team with the same demographics as the company's factory floor. An inclusive economy looks like a world in which business creates opportunities for those who have been marginalized, instead of maintaining the status quo while lamenting the constraints of market forces. The B Corp community's vision of a shared and durable prosperity is not possible without an inclusive economy.
“An inclusive economy isn’t built in a year.”
Jay Coen Gilbert, Co-Founder of B Corp
The inclusive economy metric set gave companies ~25 metrics from the B Impact Assessment to target for improvement. Companies participating in the Inclusive Economy Challenge choose three or more goals from that list to improve on during the year. The Inclusive Economy Metric Set offers concrete metrics on themes like supporting vulnerable workers, climate change mitigation, supplier screening, and corporate governance.
They also provided the following services to assist these companies in achieving their goals for the challenge:
- Monthly Email Communications
- Ask-an-Expert Calls and the B Hive
- Quarterly Progress Reports
- Peer Exchange Groups
- In-Depth Best Practises Guides
WHY B CORP MATTERS
Individually, B Corps meet the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to use the power of markets to solve social and environmental problems.Collectively, B Corps lead a growing global movement of people using business as a force for good. Through the power of their collective voice, one day all companies will compete to be best for the world, and society will enjoy a more shared and durable prosperity for all.
Curious to know more?
To learn more about SANDSTONES B Corp status click here to read about it Being A B-Corp.