Page 21 - Chicago Market Community - Action Plan

RECOMMENDED INITIATIVES

Baseline Recommendation
PURSUE B CORPORATION CERTIFICATION

B Corp - the gold standard for value-driven businesses

At the onset of this SAP effort, there was interest in pursuing a building-level certification, such as the
US Green Building Council's LEED or International WELL Building Institute accreditation. However, with
the limitations of the store opening timeline and not owning the property, these options may be difficult
and costly. Moreover, with Chicago Market's sustainability ambitions, its potential impact should be
measured far beyond the building footprint. B Corp Certification, which has the "ability to measure a
company’s entire social and environmental impact" would give Chicago Market a holistic certification that
is not limited to a physical footprint (B Corp, n.d.).

B CORP RECOMMENDATION:
CERT. Become a Pending B Corp and complete certification after one year

With greenwashing becoming a common practice and legitimate concern, B Corp certification can help
consumers distinguish between good practice and good marketing. According to B Labs, the non-profit
organization that oversees certification, B Corps are "businesses that meet the highest standards of verified
social and environmental performance, public transparency, and legal accountability to balance profit and
purpose (B Corp, n.d.)."

Specifically, B Corps must demonstrate high social and environmental impact, create a governance structure
accountable to all stakeholders, not just shareholders, and exhibit transparency in its assessment (B
Corp, n.d.). The similarity between B Corp requirements and Chicago Market's mission and values make this
a logical fit. The value for Chicago Market that comes with B Corp certification stems from more credibility,
better engagement from employees and customers, and stronger resiliency in an increasingly volatile world
(Walden University, n.d.).

B Corp assessment is measured across five categories: Governance, Workers, Community, Environment,
and Customers. A company must earn at least 80-points on B Lab's scoring criteria to achieve certification.
As a requirement, businesses must also be operational for at least one year to gather enough empirical
data. Fortunately, B Corp offers a Pending status to start-up organizations like Chicago Market. Because
it meets the prerequisite governance requirements, Chicago Market can apply for Pending B Corp status
immediately, based on planned operations, including potential SAP recommendations.

For the sake of this SAP, the consultant performed an initial B Corp assessment, making informed assumptions
on many of the questions, to estimate a baseline score. The preliminary review, summarized below, indicated
that Chicago Market is well-positioned to achieve B Corp certification, scoring 70 points (see appendix C).
In several cases, points were missed, not because Chicago Market lacks the intent but because a formal
agreement or documentation will be necessary to meet the criteria.

CHICAGO MARKET SUSTAINABILITY ACTION PLAN 21