Plank Hardware announces B Corp Certification - Business Leader News

Plank Hardware announces B Corp Certification

Plank Hardware

Online home décor brand, Plank Hardware, has just been awarded B Corp certification — the first hardware brand to achieve this status.

Established in 2019, London-based Plank Hardware is the recognised go-to online supplier for meticulously-made hardware designs, suited to all manners of creative home projects.

B Corp status certifies the environmental and social performance of businesses. Plank Hardware has been awarded a score of 87.5, supporting its mission to remain a carbon-neutral operation as the brand helps more customers to improve their homes.

The company is committed to reducing its impact by continually challenging material choices and design processes, whilst only employing suppliers that align with its goals. Since conducting its first carbon audit in 2020, the brand has moved some of its designs from solid brass to aluminium or stainless steel, recognising products can be created at matched quality but with a lesser carbon footprint.

After reduction, Plank Hardware pledges to offset the remaining carbon emissions by investing exclusively in third-party-rated projects that it is passionate about.

    To be granted and to maintain certification, companies must receive a minimum score of 80 from a ‘BIA’ – B Impact Assessment of “social and environmental performance”, integrate B Corp commitments into the running of the business, and clearly communicate these with stakeholders as well as legally incorporating these in company governing documents logged with Companies House.

    The B Corp legal requirement is designed to provide a legal basis to allow directors to consider the interests of all stakeholders, not just shareholders, when making important decisions and to protect the company’s mission and values through capital raises and leadership changes, and give business leaders more flexibility when evaluating sale and liquidity options.

    Businesses that become B Corps have seen great results: committed and motivated employees, increased customer loyalty, higher levels of innovation, and market leadership. Companies must recertify every three years to retain B Corporation status so Plank Hardware like many other businesses must continually strive to maintain these standards.

    Tom Revill, Co-Founder of Plank Hardware commented: “We are so excited to be awarded the coveted B Corp status and to be the first hardware brand to do so is a real coup. Of course, it’s not the status that is important so much as what it stands for.

    “The B Corp framework has encouraged us to be critical of how our whole business operates, from product development through to managing staff welfare. We’ve made many improvements to date, but certification is just the tip of the iceberg — there’s high hurdles to be cleared.

    “We would love to work with recycled materials — brass, aluminium and steel — but our research has demonstrated that traceability is a grey area within the hardware industry.

    “We hope to learn from brands in the jewellery industry that have collaborated with their supply chain to cast transparency on sourcing methods for precious metals. Our mission is to challenge the status-quo in the interiors industry and to be a pioneering, responsible business to both work and shop with. ”