What is the difference between a Certified B Corp and a Pending B Corp?
Pending B Corps are new companies with under one year in operation (must have at least one full-time person in the company or the first formal purchase contract from a significant supplier). They must complete a B Impact Assessment but are not required to reach a minimum score, nor go through the verification process.
They must modify their legal framework from an early stage (more information on the legal requirement here; this is a necessary condition to be eligible for Pending B Corp status).
The Pending B Corp status is non-renewable and valid for 1 year for Argentina, Brazil, Chile, Colombia, Mexico, and 2 years for Central America and the Caribbean, Uruguay, Peru, Ecuador, Paraguay, Bolivia, and Venezuela. Once expired, companies must apply for the B Corp Certification.
Important: The Pending B Corp Seal logo can only be used digitally (website and social media). The regional brand usage policy does not allow the seal to be used on products.
Steps for companies or undertakings with
less than 12 months of operation
Companies operating for less than a year can obtain the Pending B Corp status. In Argentina, Brazil, Chile, Colombia and Mexico, it’s valid for 1 year, while in Central America and the Caribbean, Uruguay, Peru, Ecuador, Paraguay, Bolivia and Venezuela, it lasts 2 years.
The operation of the company is considered from when it makes a first purchase from a significant supplier and / or since it has a person working full time for the business (the legal incorporation date of the company is not considered in this case).
Those who obtain this seal can use the Pending B Corp logo, which allows you to communicate to the community that your company or venture is on the way to being a Certified B Corp and therefore, that it seeks to be part of the community of companies with the highest level of internationally recognized standards.
Becoming a Pending B Corp is not the same as becoming a Certified B Corp. Pending B Corp status is finite. Once it expires, the company must go through the full verification process with B Lab. However, the Pending B Corp status can give companies a head start by taking these initial steps.
To obtain the Pending B Corp seal, a company or start-up must:
1. Meet the legal accountability requirement for B Corp Certification: The legal accountability requirement means you must incorporate stakeholder governance into the legal structure of your startup. This means that your company is legally accountable to people — your workers, customers, clients, and the communities in which you operate — and the planet.
2. Complete and submit the B Impact Assessment: By completing the B Impact Assessment, you’ll learn about B Corp standards and identify the right policies and practices to put in place as your company grows. Your prospective B Impact Assessment will not be verified by B Lab and you will not receive a verified score while you are a Pending B Corp. If you choose to continue on your pathway to become a Certified B Corp after one year of operations, please complete an updated assessment reporting on your company’s implemented practices where we can verify practices for full B Corp Certification.
3. Sign the Pending B Corp Agreement, which includes acceptance of limited intellectual property rights and limited access to support and services from Sistema B during the term.
4. Pay the corresponding fee.
Yes. If your company or enterprise has been in operation for 12 months (regardless of when they obtained the Pending B Corp Seal), you can obtain the B Corp Certification. For this you must enter the certification process and complete all the required steps .
In case of obtaining the B Corp Certification, the corresponding payment must be made, even when the payment of the Pending B Corp Seal has been made.
