Karma Wallet is B Corp Certified: How We Use Business as a Force for Good

Karma Wallet is proud to be a Certified B Corp. Here’s how we use business as a force for good!

June 16, 2023


Our mission is pretty simple: create meaningful positive impact on people and the planet. Since day 1, we’ve embedded sustainability and social impact throughout every part of our business. And the hard work has paid off. ImpactKarma, a public benefit corporation, and our product Karma Wallet have earned B Corp Certification

As a Certified B Corp, we passed their strict third-party standards for social and environmental impact and joined a network of companies using business as a force for good. B Corp is a pretty big deal, not just for Karma Wallet, but for the future of ethical business. Here’s why!

What is B Corp?

In a world where businesses (and consumers!) are increasingly aware of their impact, B Corp Certification has emerged as a powerful tool for organizations striving to balance purpose, and then profit.

B Corp Certification, awarded by the non-profit B Lab, is a rigorous assessment that evaluates a company’s social and environmental performance, accountability, and transparency. It goes beyond measuring profitability by considering a business’s impact on its workers, customers, community, and the environment.

B Corps are legally required to consider the interests of multiple stakeholders and operate in a way that benefits society and the planet as a whole. By working with other movements, coalitions, activists, policymakers, and organizations, Certified B Corps work together to make business a force for good.

Karma Wallet B Corp Certification

What is the Assessment Process?

B Corp uses a three-pronged holistic approach when reviewing businesses for certification approval.

Businesses start with the B Impact Assessment – a comprehensive evaluation of their overall impact. This assessment covers governance, worker treatment, community engagement, environmental practices, and business practices. B Lab verifies this information, then provides a score.

The company must also make a legal commitment to accountability, adjusting their organizational structure to reflect an emphasis on stakeholders at large.

Fun fact: the “B” stands for “benefit for all”, reminding companies to prioritize all stakeholders in their business operations, and not just shareholders.

To meet this requirement, Karma Wallet pledges to donate 5% of revenue to our non-profit partners helping us make the world a better place. Finally, the company must exhibit transparency through allowing B Corp to make their impact assessment information publicly accessible online.

Once a company becomes a B Corp, it must recertify every three years, ensuring continued high social and environmental performance.

What does B Corp mean for me?

Today, there are 6,785 B Corp companies operating in 90 countries across 161 industries – with over 595,935 workers.

As the B Corp network grows, so does the positive impact created by these companies.

The best thing you can do to help the movement is find, then support, B Corp companies. You likely already support a few companies that are B Corp Certified!

When shopping in person, look for the B Corp logo on product packaging. If shopping online, use tools like Karma Wallet – or the B Corp Tool to find certified companies. Karma Wallet highlights hundreds of Certified B Corp companies, and even offers cashback when you support select B Corps. 

As more people like you seek out and support B Corp Certified companies, it signals to the markets that there is demand for sustainable products and services, driving industry-wide shifts towards more ethical practices. At the end of the day, consumers like you hold the power. Companies want your business – and will adapt to meet your needs.

Imagine a world where every company was a B Corp? It’s possible, and it starts with us.

Karma Wallet B Corp Certification

Karma Wallet & Our B Corp Status

The goal of B Corp is to transform the economic system into a more inclusive, equitable, and regenerative global economy. And that’s where Karma Wallet comes in. By giving our community free, actionable data on the impact of their shopping habits, we hope to catalyze a generation of educated, conscious consumers.

We know sustainability is the future – and give you the tools to live and shop aligned with your personal values.

B Corp Certification is a huge milestone for us, but we still have a long way to go. And we couldn’t do it without you.