Why Tradewater Became a Certified B Corp
When Tradewater was founded in 2016, the goal was to build a company that could effectively collect, control, and destroy greenhouse gases and establish an economic model that could bring this work up to a meaningful scale in the fight against climate change. We wanted to create a company that would intentionally improve our environment and generate economic opportunity.
Today, we’ve destroyed about 6 million metric tons of carbon dioxide equivalent, primarily from old refrigerants, which are some of the most potent greenhouse gases ever made – up to 10,900 times as potent as carbon dioxide. We are now poised to collect, control, and destroy at least 3 million metric tons of CO2e annually beginning in 2023. Our work has expanded from its United States origins to become a global enterprise with development work on-going in 11 countries. We’ve also expanded our impact to include other potent greenhouse gases such as halons – a fire suppressant – and methane leaking from abandoned and orphaned oil and gas wells.
We asked ourselves, “Why stop here?”
As we expanded our impact, we began looking for ways to further establish our commitment to our mission and to continuous improvement. Becoming a B Corp has been a good fit for Tradewater. Like our fellow B Corp members, we are measuring our entire social and environmental impact while striving for progress over perfection. We are very pleased to join a community of over 6,000 B Corps across 86 countries, affecting about 500,000 workers. It’s an honor to be in such good company.
The standards to obtain the B Corp Certification are demanding and require Tradewater to meet high performance, accountability, and transparency measures. We are measured on factors from employee benefits and charitable giving to supply chain practices and input materials. Even with all the co-benefits and alignment with our mission, it wasn’t easy.
Some things we’ve learned by becoming a B Corp:
Anything that is worth it, might be a little hard: The certification process took about a year from start to finish. Even though our first score allowed for us to apply, the process is lengthy due to B Lab’s (the B Corp certification body) commitment to accuracy, transparency, and partnership.
Performance, scale, and purpose are equal: Becoming a Certified B Corp does not mean you have to make every possible social and environmental improvement without regard to your financial performance. This is an important distinction and the foundation of the economic movement.
The B Corp community is vibrant. We are part of something bigger, ignited by an entrepreneurial spark and serious dedication.
We can scale our impact. As more customers are attracted to Tradewater as a B Corp, our financial performance will improve, which means we can continue to invest more in our growth and impact. The publicity, global recognition, and external validation by being a B Corp supports our ability to globally scale.
Employees support a mission-driven organization. Benchmarking and improving performance generate awareness for our workforce, while also empowering everyone to contribute. The certification increased internal enthusiasm about what we can do as an organization. This is all extremely important as we seek to attract and retain an outstanding global workforce.
Continuous improvement is key. B Corps are, by definition, focused on continuous improvement, leading to long-term resiliency. We are required to undergo the verification process every three years to recertify.
The B Impact Assessment has been used by more than 150,000 businesses, and the average score for those who complete the assessment is 50.9. Receiving the minimum verified score of 80 points is an enormous achievement since it measures a business’ holistic impact performance. So, you may be asking, “how did Tradewater do?” We are proud to have received a score of 87, which is 7 points higher than required.
Find us on the B Corp site: Tradewater, LLC – Certified B Corporation – B Lab Global
At Tradewater, we are sending a clear message to our employees, our partners, our customers, and our global community. Our message is that we are committed to our impact, and we recognize that we always have an opportunity to do more, be better, and to self-reflect. By joining the B Corp community, we are creating paths for consumers to experience purposeful action based on how they choose to spend their dollars. We are empowering industries, businesses, and consumers to make visible change in the world.
We are proud. We are inspired. We are impactful. We are Tradewater.