In April 2021, Vina Concha y Toro became a certified B Corporation (B Corp). This followed a two and a half year process of assessment covering all aspects of the global business.
So what is a B Corp?
In the past 20 years, there has been an evolution from the idea of 'good products' to the concept of 'good companies'.
Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.
And how do you become one?
Certified B Corporations must achieve a minimum verified score on the B Impact Assessment – a rigorous assessment of a company’s impact on its workers, customers, community, and environment.
They also make their B Impact Report transparent on bcorporation.net
Finally, they need to amend their legal governing documents (articles of association) to require their board of directors to balance profit and purpose.
The B impact assessment
The business is assessed in 5 areas:
Each of the areas is measured in two dimensions:
Operations: What are the practices with which the company operates in the 5 areas.
Impact Business Model: Defines whether the company has an impact business model in each area.
The company is scored on each of these evaluations.
In order to achieve B Corp certification, the company needs to compile a score of 80 points or over.
What happens next?
Achieving the B Corp certification is just the start. Concha y Toro will be assessed every 3 years to determine if it has improved its performance in the many different measures outlined above. So the assessment becomes the driver for encouraging good practice and positive action across every aspect of the business.
B Corp Community
As a certified B Corp, Concha y Toro joins the global B Corp Community - a network of like-minded companies who put planet and people on an equal footing with profit for their businesses. This becomes a powerful movement for positive change.