We’re thrilled to announce that Octopus Energy, through our parent company Octopus Group, is a certified B Corporation (or B Corp)! B Corporations are profit-making companies certified to meet very high standards of social and environmental performance, accountability, and transparency. With this recognition, Octopus joins a growing group of companies — including Ben & Jerry’s and Patagonia — pursuing purpose as well as profit.
Recognized by B Lab, the not-for-profit behind the B Corp movement, this certification means that Octopus has met rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit. Five key impact areas are included in the B Corp assessment, which include Governance, Workers, Community, Environment and Customers.
On the B Corp assessment, we scored 94.2 (the average score for a typical company is 52.5 and you need to achieve a score of 80 to meet the B Corp threshold). While we’re delighted to have surpassed the standard, there’s still plenty for us to improve upon (Ben & Jerry’s, for example, scored 110).
For a long time, generating profit was seen as the primary role of business. Today, this is quickly changing as people increasingly recognize the wider responsibility businesses have to society and its well-being. Purpose-driven companies, which understand what it means to make the world a better place, will deliver enormous financial returns for their investors over the coming decades.
Our mission at Octopus Energy now is to continue investing in the people, ideas and technologies that will help to change the world, starting with giving you easy access to smarter, cheaper and greener energy. We’re excited to celebrate this achievement and continue on this journey with you.