Company News

Modo Energy becomes B Corp Certified

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Shared by Q • December 20, 2023

At Modo Energy, we’re helping our users transform the energy industry - enabling them to finance, own, and operate the assets that will unlock net zero.

But, this is only one piece of the puzzle on the journey toward a more sustainable future for our planet.

If we are to create a more inclusive, equitable, and regenerative economy, we also need to transform the way we do business.

That’s why we are thrilled to announce that we are now a Certified B Corporation. This reflects our commitment to using business as a force for good, and to balancing profit with purpose.

What is B Corp Certification?

B Corp Certification means that a company has been verified as meeting B Lab’s high standards for social and environmental impact, accountability, and transparency.

It also requires a legal commitment to stakeholder governance - in other words, a “triple bottom line” of profit, people, and planet. This enables businesses to build their mission and values into their operations, and to preserve that mission as they scale.

There are now more than 1500 B Corps in the UK, and over 7000 worldwide, including the likes of Patagonia, Ben & Jerry's, and The Body Shop - so we're in great company!

Our journey to becoming a B Corp

The process of becoming B Corp Certified was rigorous, requiring a comprehensive assessment of our business model, and of our social and environmental practices.

Over the course of an 18-month assessment period, we worked to ensure that Modo Energy not only meets but exceeds the stringent criteria set by B Lab.

Businesses need a minimum of 80 points in the assessment to qualify for certification - here's how we did:

Overall score - 97.3

Governance - 16.8

Workers - 31.8

Community - 21.7

Environment - 2.7

Customers - 24.1

What are we doing as a B Corp?

There's still plenty of work to be done to ensure we have a lasting positive social and environmental impact as a business, but here are a few steps we've taken since starting our B Corp journey:

  1. Environmental stewardship: We have implemented sustainable practices across our operations - including monitoring our carbon footprint, and encouraging the use of local suppliers.
  2. Employee well-being: We prioritize a positive and inclusive workplace culture that fosters growth, development, and job satisfaction. This includes regular salary reviews, company-wide offsites, and plenty of opportunities for feedback and collaboration.
  3. Community engagement: We seek to actively contribute to the communities in which we operate. This includes supporting local initiatives and organizations that align with our values, such as the Birmingham and Black Country Wildlife Trust, the London Wildlife Trust, and Let’s Feed Brum.

What’s next?

While this is a significant accomplishment, it’s not the end of our journey. Modo Energy remains committed to continuous improvement and innovation, exploring new ways to make a positive impact on people and the planet.

If you want to read more about our progress so far and our plans for the future, look out for our upcoming Impact Report 2023, in which we offer a fully transparent evaluation of our social and environmental performance over the last financial year, and set out our goals for the year ahead.

Modo Energy's B Corp Certification is a celebration of our shared commitment to building a better world. Together (with you!), we hope to drive positive change.

We’re far from perfect - but we know that our customers, our suppliers, our investors, and our team members will continue to hold us to account as we strive to balance the needs of people and planet with our wider business goals.