Ostrom, the smart & green energy provider with the aim of being Europe’s leading consumer energy management platform, is elated and extremely proud to say it has officially become a Certified B Corporation™!
This culminates the hard work our team has done and continues to do, a recognition and a standard that keeps us accountable towards our efforts towards sustainability and a great place to work.
This makes Ostrom just one of 71 companies headquartered in Germany to be a Certified B Corporation. With a score of 129.1, this gives us the second highest score in Germany as of March 2023.
B Corporation is a global accreditation given by the non-profit B Lab that certifies companies to uphold a high level of standards and best practices in five areas: Governance, Workers, Community, Environment, and Customers.
As of today, there are 6,519 companies in 89 countries that have been certified to be a B Corp.
Examples of prominent B Corp companies include sustainable clothing retailer Patagonia and the tree-planting search engine Ecosia.
The application, evaluation and verification journey was no easy step. We had started last year with the B Impact Assessment of over 300 questions—covering everything from our hiring, training, sourcing and much more. It is only then that we enter the evaluation and verification queue, where companies need to show they have the bite to match their bark.
To become a B Corp, a company must get 80 out of 200 points in their application. While it may seem easy, less than 50% of applicants are successful in their certification journey.
While Ostrom has sought to combine the incentives of the company, its customers and our climate since Day 1—through our one fair electricity-at-cost tariff that removes our financial incentives for customers to use more energy—becoming a B Corp holds us accountable to these high standards going forward.
We see the B Corp certification not as the end but just the beginning. This means that we at Ostrom need to hold ourselves to a high standard—to avoid the too-often-seen backsliding and compromise companies make as they move from startup to scaleup to enterprise. B Lab requires recertification after 3 years—making the B Corp process not just a one-off but a continuous journey.
We are highly looking forward to the future and increasing our impact as Ostrom grows further!
Ostrom reduces electricity costs for all customers once again! The unit rate will be decreased by 2.25 ct/kWh gross which translates to additional annual savings of 50€ per year, on top of the several hundred euros from our earlier price decreases for the average Ostrom customer.
As Ostrom turns two, we reflect on our challenges and wins and why we're excited about the future!