What the new B Corp Standards mean for finance teams (and why many aren’t ready...)
- Robert Hayward
- Apr 24
- 3 min read
When B Lab announced its sweeping overhaul of the B Corp certification standards this month, it signalled more than just an operational update. It marked a philosophical shift, from internal good practice to ecosystem-wide responsibility. At GoodFX, we’ve taken a deep dive into the new standards. And if you’re in a finance role - CFO, FD, or controller - it may be time to recalibrate.
This isn’t just about compliance.
This is about how your role fundamentally changes in a stakeholder economy. From Internal Scorekeeping to Ecosystem Impact. The old model was points-based: score 80 out of 200 and you’re certified. That structure encouraged businesses to play to their strengths, choosing where to excel.
The new model? It’s not about what you choose to do. It’s about what you’re expected to do, across seven mandatory impact areas. And crucially, these areas don’t stop at the edge of your org chart. They extend to your suppliers, your communities, and your policy footprint.
In other words, B Corps are now judged on how they grow the ecosystem, not just the enterprise.
The new role of Finance in B Corp strategy
This shift pushes finance to the centre of the action. No longer just gatekeepers of cost or compliance, finance leaders are now strategic enablers of impact:
1. You’re now modelling more than profit.
Carbon reduction pathways, social investment returns, DEI spend, and scenario plans under future wage laws — all of these are now financially material.
2. You need to forecast for 3–5 years of improvement.
B Lab’s phased approach (Year 0, 3, 5) means “one and done” won’t cut it. You’ll need to show a path of continuous progress — and finance is best positioned to build it.
3. Your supply chain is now your responsibility.
Human rights risks. Scope 3 emissions. Supplier diversity. These are no longer “nice to haves” — they’re part of your score. Which means procurement needs to start looking a lot more like risk management.
Supplier alignment: The hidden lever
One of the most underappreciated changes in the new standards is the emphasis on aligned suppliers. B Corps are encouraged (and in some areas, expected) to work with vendors that match their values.
For financial services, this is a big deal.
Imagine two financial services companies offering similar products. One uses profits to fund environmental and social impact (like we do at GoodFX). The other doesn’t. Under the new B Corp framework, choosing the former can directly support your certification (and more importantly, your values).
This is where ecosystem growth becomes tangible. Your values don’t stop with you. They extend to who you partner with.
What smart Finance Teams are doing now
The most forward-looking CFOs and FDs we’re speaking to aren’t waiting for the recertification deadline.
Instead, they’re already:
Auditing their top 80% of suppliers for ESG alignment
Budgeting for values-driven procurement
Modelling multi-year impact improvement as part of CapEx planning
Embedding non-financial KPIs into board reporting packs
They’re treating these standards not as rules to follow, but as tools to future-proof their strategy.
Want the full breakdown?
We’ve created a practical guide that walks through the new B Corp standards from a finance perspective. It unpacks the seven impact areas and highlights what FDs need to start doing today.
If you want to talk about how this links with your FX, treasury, or supplier impact strategy, we’re here.
Because doing good shouldn’t just be a mission statement; it should be a business model.