20th September 2021: Flexible workspace specialist, x+why has announced today its certification as a B Corporation (or B Corp), joining a growing group of companies reinventing business by pursuing purpose as well as profit. x+why has been certified by B Lab, the not-for-profit behind the B Corp movement, as having met rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit.
The B Corp certification addresses the entirety of a business’ operations and covers five key impact areas of Governance, Workers, Community, Environment and Customers. The certification process is rigorous, with applicants required to reach a benchmark score of over 80 while providing evidence of socially and environmentally responsible practices relating to energy supplies, waste and water use, worker compensation, diversity and corporate transparency. To complete the certification, the company will legally embed their commitment to purpose beyond profit in their company articles.
x+why is now part of a community of 4,000 businesses globally who have certified as B Corps. The B Corp community in the UK, representing a broad cross section of industries and sizes, comprises over 400 companies and include well-known brands such as The Guardian, innocent, Patagonia, The Body Shop and organic food pioneers Abel & Cole.
Phil Nevin, co-founder at COO of x+why, says: “Becoming a B Corporation was fundamental to x+why, and we are thrilled to have now certified. For us, this is the beginning, not the end, of the journey, and we are excited to use our certification as a powerful tool to create a forward-thinking, equitable and sustainable business that hopefully inspires others to also use business as a force for good.”
“All our spaces are designed and operated as industry-leading green workspaces, with every element designed in collaboration with purpose-driven brands. The spaces are not just for charities or not-for-profits, they are aimed at any person or business who is committed to a more impactful and positive way of working.”
x+why is fast becoming the home of purpose driven business, already counting several B Corporations as members including B Lab themselves, Bethnal Green Ventures, Birdie and Toast Ale. The member engagement program that x+why run is also focused on helping inspire and progress businesses toward better practices. Their exclusive WhyB Programme is four sessions hosted at x+why’s People’s Mission Hall in partnership with B Lab UK, and is designed to motivate and guide businesses as they complete their B Impact Assessment (BIA) – the key to unlocking the coveted B Corp Certification.
Chris Turner, Executive Director of B Lab UK says “We are delighted to welcome x+why to the B Corp community. This is a movement of companies who are committed to changing how business operates and believe business really can be a force for good. We know that x+why are going to be a fantastic addition to the community and will continue driving the conversation forward”.
“We are pleased to have B Corps of all shapes and sizes as part of our community – from startups to multinationals and across many different industries. Business is a powerful force and B Corps demonstrate that you can do good in any sector. Welcoming x+why is an exciting moment because they have an opportunity to lead the way within the commercial real estate industry. We and the rest of the B Corp community are really pleased to support x+why in paving the way for a new way of doing things”.
x+why is one of the first businesses in the real estate sector to qualify as a B Corp and hope to lead the way for others, Phil Nevin comments: “The built environment is responsible for around 40% of the UK’s carbon footprint. Since the real estate sector is such a large emitter, we hope our qualification will inspire other members of the industry to redefine success in their business to be as much about people and planet as it is about profit.”