Best for the world
The definition of a B Corp is based on its practices and outputs in five areas: governance, workers, community, environment, and customers. The rigorous assessment process incorporates all major corporate indicators, such as corporate social responsibility (CSR), the United Nations’ environmental, social, and corporate governance (ESG) principles and sustainable development goals (SDGs), and social return on investment (SROI).
Last year B Lab announced that it was adjusting the criterion for inclusion in its “Best for the World” recognition from the top-scoring 10% of B Corps worldwide to the top 5%. B Corps include many large enterprises, such as Vestiaire Collective, a French secondhand resale platform for high-end fashion. Nonetheless, Greenvines beat out more than 4400 of the world’s 4700 B Corps to be listed in the “Best for the World: Environment” category for the fifth year running.
“The B Corp system assesses the ‘impact on the world’ of an enterprise’s business model and profit, and ‘what is good’ about them,” says Maggie Sun. Greenvines cofounders Harris Cheng, Evelyn Liao, and Jack Hsu were classmates in the Department of Finance at National Taiwan University and all had successful careers in the financial world after graduation. One day the three made a decision to leave their comfort zone and go into business. “They later called this ‘Option B.’” Why does Greenvines insist on developing “clean skincare products”? “People today do skincare every day and night, so Greenvines elected to ‘make an impact’ here.”
Their background in finance gave the founders an understanding of the importance and impact of wealth, but it is human choice that determines what is the best way to use wealth. For the last 11 years, Greenvines has constantly adjusted and clarified its orientation and made many contributions to the environment. In 2015 the firm was certified as Taiwan’s third B Corp.
Husband and wife Vinka Yang (left) and Elizabeth Tsai (right) have been operating Twine for over ten years now.
Husband and wife Vinka Yang (left) and Elizabeth Tsai (right) have been operating Twine for over ten years now.
When people shop at Twine, “we suggest that they buy only one of each type of clothing, telling them they don’t need two of the same thing.” Vinka Yang hopes that customers will not stockpile clothing, but will instead use each item of apparel to the fullest.