We are B Corp certified!

B Corp - short for Certified ‘Better’ Corporations - are those that ‘meet or exceed the highest standards of verified social and environmental performance, public transparency and legal accountability’ according to the company’s Global Brand Book of 2022. Three main criteria ultimately must be met to be B Corp certified: 1) Verified social and environmental performance, 2) Legal accountability and 3) Public transparency.

“Obtaining the B Corp was crucial for the company,” says Key’s Director of Strategy and Sustainability, John Service, as “being ethically, environmentally and socially driven has always been at the heart of our business.” Key joins over 1,500 other B Corps in the UK, which stretches across 58 industries and includes over 59,000 employees in total. Being a part of B Corp, “provides a good framework to use as the basis for [Key’s] Environmental, Social, and Governance strategy”, as well as allowing for the company to “take a really hard look into how we operate and where we could improve our impact in all kinds of areas,” Service continues. Qualifying for B Corp is an ongoing process, delving into not just one aspect of a company but encompassing an organisation’s entire social and environmental impact. ‘It’s more than just a certification; it’s a tool for continuous improvement and an ideal way to embed ongoing sustainability practices into our business,’ Service concludes. As a B Corp company in the music industry, Key is counted among businesses that are leading a global movement for an inclusive, equitable, and regenerative economy, the only organisation in our field to have obtained this certification. Our CEO Karen Emanuel is proud to have Key achieve B Corp status, noting the pillars forming the accreditation are those that have been “part of the company’s DNA” since she founded it in 1990.

WHAT IS B CORP EXACTLY?

Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.

B-Corp originated in the 1990s when friends Jay Coen Gilbert and Bart Houlahan co-founded AND1, a basketball footwear and clothing company. AND1 was a prime example of a company balancing social responsibility and sustainability with profitability. Excellent work perks for employees and a dedication to partnering with overseas suppliers who paid fair wages in a safe, professional environment made AND1 a model of possibility for a better workplace.

However, the founders were perturbed after the company’s sale in 2005. Almost as soon as they were no longer in control of the entity they had once run, many of the former life-affirming commitments to employees and international stakeholders fell away.  Using like-minded renowned socially conscious companies like Ben & Jerry’s as a model, the duo teamed up with former college classmate Andrew Kassoyn, who was working at a private equity firm focused on social change. A year later, the threesome started the non-profit B Lab. By 2007, B Lab was working with leading businesses, investors and attorneys in pursuit of designing an all-inclusive overview of performance and legal requirements which would make up the certification of B Corp.