B Impact Assessment: Governance

Written by Marketing

The governance area of the B Impact Assessment focuses on how you ensure your company’s governance considers all stakeholders. Being a B Corp is all about valuing your workers, customers, environment, and community, but it is also about having corporate governance that keeps those values in place.

“This impact assessment area evaluates your company’s overall mission, ethics, accountability and transparency through topics such as integration of social and environmental goals in employees’ performance evaluation, impact reporting and transparency, stakeholder engagement, and more.”

This section of the assessment looks at your company’s mission and approach to impact. This isn’t just what you believe, but what you have written down as formal policy and how you implement your mission into your business.

It also asks about your engagement with stakeholders and how their participation shapes your governance structure. These questions get into how transparently you operate your business with respect to stakeholders, employees, and the public.

At MASECO, as part of our staff induction process, all new employees will take part in a session that highlights our code of ethics and the importance of them to the business. We also have strict compliance and audit processes in place to monitor ethics and corruption. Moreover, we demonstrate both company transparency and financial transparency with our employees through our beneficial ownership, clear bonus matrix, and finance updates which are presented to the whole company every quarter. Information on our social and environmental performance is regularly shared on our website and social media platforms with updates on what we are doing to make a difference and use our business as a force for a positive change in the world.