From A Company to B Corp and beyond

Understanding B Corp

B Lab, a global non-profit group, awards the B Corp certification to for-profit companies that demonstrate high standards of social and environmental performance, accountability, and transparency. TIAA has earned this certification by scoring 94.6 on the B Impact Assessment, making a legal pledge to weigh the impact of their decisions on all stakeholders (not just shareholders), and being transparent about their results against B Lab’s criteria. B Corps are part of a movement for a more inclusive, fair, and sustainable economy. They aim to build trust with consumers, communities, and suppliers, attract and keep employees, and appeal to investors who share their mission. B Corps must renew their certification every three years, which motivates them to constantly improve and sustain their long-term resilience. The certification is comprehensive and not limited to a single social or environmental issue. It requires companies to involve teams across the company and can include documentation, review of public complaints, and possible site visits. B Corp certification is regarded as the highest standard of better business practices and reflects the most socially responsible companies. 

Value, impact and connection

Value – We are a business assurance services provider that helps people feel confident that their organisations are contributing to a better world. 

Impact – Our customers demand transparency and assurance that we practice what we preach. 

Connection – As a B Corp, we report on all aspects of our business so that we can validate we are contributing to the positive impact that we promise. 

• TIAA’s social value offering: TIAA wants to help improve outcomes for stakeholders of all public services across the UK. This is achieved through supporting our clients to improve the value they gain in every pound they spend. 
• TIAA’s net zero commitment: TIAA cares about the planet and has pledged to be net zero by 2030. They have joined the SME Climate Commitment and they report their progress every year.  We set annual environmental improvement targets to reduce our materials and resource consumption, which is measured against our carbon reduction plan, and we provide professional advice to our clients and customers to enable them to do the same. 
• TIAA’s B Corp certification: TIAA is a B Corp, which means they are a good business that cares about people and the planet. They have to meet high standards of social and environmental performance, transparency, and accountability. 
• TIAA’s actions to reduce our environmental impact : TIAA has been proactive in identifying and reducing our impacts, with initiatives including  installation of LED lighting, moving to green energy contracts, hybrid working, conversion of our fleet to hybrid and electric vehicles, and virtualisation of our servers .  We also  strive to reuse resources, with recycling and disposal considered as a last option. 
• TIAA’s support for community, staff, and equality: TIAA is a good employer and a good neighbour.  We actively encourage our staff to volunteer at local projects and charities and provide paid leave to do this. They have a plan to support their staff’s wellbeing, sustainability, and equality. They also pay fair wages and report their gender pay gap.