The Happy Prize Company has announced its certification as a registered B Corporation.
B Corporations (or B Corps) is a growing group of companies who are reinventing business, by pursuing purpose as well as profit. The Happy Prize Company has been certified by B Lab as having met rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit.
The B Corp certification is for the whole of a business and covers five key impact areas of Governance, Workers, Community, Environment and Customers. The certification process is rigorous. You have to score over 80 and provide evidence of socially and environmentally responsible practices – including energy supplies, waste and water use, worker compensation, diversity and corporate transparency. To complete the certification, a company will legally embed their commitment to purpose beyond profit in their company articles.
The Happy Prize Company began their journey two years ago and is now part of a community of over 3,200 businesses globally who have certified as B Corps. The B Corp community is reflective of the UK economy with businesses from a cross-section of industries and sizes. These include well-known brands like innocent, Patagonia, Pukka Herbs, Abel & Cole, Divine, and JoJo Maman Bebe.
Recent attention on the travel industry makes The Happy Prize Company’s B Corp certification a notable step and signals a shift towards greater accountability and transparency in the sector. In the two years since, it has committed itself to reaching the standards required by B Corp, as demonstrated by initiatives including:
- Working with ClimateCare to offset all flights and transport used as prizes, rewards and incentives. Clients have the option to pay for this carbon offset, or if they choose not to, The Happy Prize Company will cover this themselves to ensure every trip taken is carbon positive. The emissions are offset through a portfolio of projects that help to provide safe drinking water to 4 million people, support 350 manufacturers and 500 retailers in Ghana to produce Gyapa stoves, cutting more than 3million tonnes of CO2 and saving 4.1million people more than $75 on their fuel bills, support Burn Stoves in Kenya, cutting emissions, reducing toxic fumes & decreasing fuel bills, providing women with skills and training, as well as supporting renewable wind farms in India which provides rural communities with clean, reliable energy.
- Supporting and partnering with a range of charitable and local organisations including Tandridge Befriending Scheme for the elderly, Sussex Wildlife Trust, Flying Seagulls Project and the Selsey Sea Bathing Society initiative.
- Ensuring that at least 30% of spend on businesses within a 50-mile radius.
- Banking with ethical B Corp bank, Triodos.
Kate Sandle, Director of Programmes and Engagement of B Lab UK, says “We are delighted to welcome The Happy Prize Company to the B Corp community. This is a movement of companies who are committed to changing how business operates, who believe business really can be a force for good. We know that The Happy Prize Company 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 one that – as these companies are showing – can be used for good. Welcoming The Happy Prize Company is a particularly exciting moment because we’ve seen that the travel and experiences industry, as well as their in their client base in the marketing industry, are in need of a shakeup. We and the rest of the B Corp community are really pleased to support them in paving the way for a new way of doing things”. We know that their commitment to doing business differently will be an inspiration to others and really help spread the idea that we can redefine success in business to be as much about people and planet as it is about profit”.
There are currently 255 certified B Corps in the UK. There is only one other UK registered travel company certified as a B Corp and a handful of advertising, marketing and PR agencies in the industry such as Havas London, Freud Communications and Mullen Lowe Salt.