Verification for Enterprises that put People and Planet First
What is this verification for?
This global verification was developed to be simple and affordable, support regional and national networks, and expand market access and opportunities for social enterprises around the world. The first step is to submit a free online form that serves as a common application for other verification systems and services. Once an enterprise is approved, the second step is to make a payment and upload governing and financial documents for review. The fee ($85 for the initial verification, $70 per year for renewal) was set at the lowest possible level to contribute to costs and ensure the service is self-sustaining.
What are the benefits of getting this global verification?
- Increase your visibility to new buyers by sharing your verification status on the SAP Business Network, the world’s largest business network with more than $4.9T in annual commerce is transacted across 190 countries. Functionality identifying social enterprises anticipated to go live November 2023.*
- Get fast-tracked pro-bono legal services from TrustLaw
- Get Full Membership Access to GrantStation, which helps social enterprises and nonprofits to identify potential funding sources from philanthropic and government agencies across the world. As a People and Planet First Verified Social Enterprise you will be able to access GrantStation for $95 per year (Regular price $595). SEWF and GrantStation are working together on adding details of true impact investment funds to the database.
- Be a trusted seller of goods and services for social procurement contracts
- Get access to capacity building support, training and other upskilling opportunities for your social enterprise
- Join a global movement of like-minded enterprises that are all putting People and Planet First
*Note: all SAP technology roadmaps are subject to change until the actual release date.
Steps to apply
- Set up a free profile page for your social enterprise on Good Market using the button below.
- Pay for your Verification administration. $85 for the initial verification, then $70 per year for renewal. If you are already on Good Market, you can click here to pay the verification fee.
- Choose which of the verification criteria your social enterprise meets. Complete the text box to explain HOW your social enterprise meets the criteria you chose and finally upload any evidence to prove your claims. This can be a screenshot from your website or a governing or financial document or something else that you feel conveys the information you claimed.
The verification is for any enterprise that puts people and planet first and meets the following 5 standards:
Purpose
Exists to solve a social and/or environmental problem.
Operations
Prioritises purpose, people, and planet over profit in operational and strategic decisions.
Revenue
Has a self-sustaining revenue model.
Use of surplus
Reinvests the majority of any surplus towards its purpose.
Structure
Chooses legal structures and financing that protect and lock in purpose long term.
Wondering if your organisation meets the standards?
You can fill in a self-assessment form on Good Market to see if you qualify for the verification.
The global network of networks
How does the verification recognise existing regional and national social enterprise verification systems?
Participating networks and certifications often have additional criteria or standards in some areas. For example, they might collect details on democratic governance, community ownership, stakeholder diversity, supply chains, or impact measurement. This is celebrated and encouraged. The global verification focuses on 5 core standards to keep assessment costs low, bridge across language divides and legal differences and open global opportunities for all enterprises that put people and planet first, no matter the language they may use. Now that a global verification is available, many global institutional partners are starting to provide pro bono discounted services and special opportunities to globally verified enterprises. If local networks have higher standards, the global verification makes it clear that local verification is required to access opportunities provided by those networks.
As long as an existing verification, certification or accreditation matches or exceeds the global verification standards, the enterprise is offered the global verification free of charge. This is sometimes referred to as a free double badge.
- World Fair Trade Organization
- Social Traders
- Fair Trade Federation
- Yunus Social Business
- Social Enterprise UK certified members
This list is subject to change over time as new country-based and global certifications, verifications and accreditations join the network of networks working to bring the global verification to their members.
Email us at verify@sewfonline.com if you think your organisation should be added to this list!