CAN GREEN TRUST BE STRENGTHENED BY ACHIEVING B CORP CERTIFICATION? AN ANALYSIS OF EUROPEAN B CORPORATIONS

In recent years, the focus on the environment and sustainability aspects has become increasingly recurrent in the globalised world. Consumers increasingly feel the need to buy products and services provided by companies that restructure their production to reduce their negative impact on the environment. Green consumers are identified as continually making purchases from sustainable companies, increasing their trust in them. The meeting point between the green consumer and the company must be defined by green marketing strategies, which take into account the interests of all external stakeholders and at the same time increase the financial needs of the company. One way to increase this relationship of trust is through the B Corp Certification, awarded by B Lab, which aims to ensure that companies and stakeholders respect social issues. The companies are assessed by B Lab through an overall score concerning Governance, Workers, Community, Environment, Customers. This study aims to analyse the impact of B Corp Certification on the ability to attract and retain customers. The research hypothesis is investigated through an empirical analysis of data referring to the period from 2015 to 2020 on 106 B Corps. The findings of the panel data analysis show that B Corp Certification has a positive impact on the sales of European companies. Thus, the results indicate the need for business managers to consider systems to ensure their sustainability performance, as demonstrated through B Corp Certification. This certification is a benchmark for consumers, who expect a higher degree of reliability from a third-party certification.