Vaela is a ‘Pending B Corporation’ that aspires to be granted full 'B Corporation' status.
B Corporations are for-profit businesses that commit to having a positive impact on society and their environment. To become a B Corporation, we must go through a rigorous certification process that measures our entire social and environmental performance.
The Assessment comprehensively covers the impact of our business on all of our stakeholders, including our workers, suppliers, community, and the environment. The Assessment also captures best practices regarding mission, measurement, and governance. The last, heavily weighted, portion of the Assessment identifies our specific “Impact Business Models,” which include the targeted, formal focus on benefiting a particular stakeholder through products and services or internal practices.
Once we’re certified, we must sign a legal agreement to confirm our board members will always consider the impact on their stakeholders when making decisions. For B Corporations, 'stakeholders' aren't just shareholders, they include employees, suppliers, society and the environment too.
In addition, we must audit and report our performance annually in order to remain a B Corporation.