B Impact Report

Logo for Faro Energy

Faro Energy

Solar Energy
Certified Since: April, 2016
Location: São Paulo, SP, Brazil
Sector: Service with Significant Environmental Footprint

Overall B Impact Scoreinfo_outline

89.9

The B Impact Scores are being compared against all businesses that have completed the B Impact Assessment

www.faroenergy.com

Faro Energy provides fully financed onsite solar systems to companies across Latin America. Faro's customers save on energy bills, reduce energy price volatility and increase independence from the grid. Faro's investors benefit from stable, long term returns on their investment.

Faro Energy partners with a network of local engineers and developers across the region, bringing together the best local knowledge and engineering skills with international capital and solar expertise.

Faro Energy was known as Iwana Energy until June 2016

Faro Energy aims to accelerate the transition to a low carbon economy, by bringing innovative solar financing models to new markets.

In many emerging markets, solar is already cost-competitive with grid power without subsidy. However, most energy consumers (of all sizes) want to pay for their energy as they use it rather than incurring large upfront costs. This makes lack of access to capital is one of the biggest barriers to rapid roll-out of solar.

Ultimately, Faro aims to catalyse a large scale shift in global capital flows to a low carbon economy, by creating attractive, large scale investment opportunities - turning clean energy infrastructure in developing countries into a mainstream investment asset.

Best for the World Honoreeinfo_outline

linkBest for Environment 2019 linkBest for Governance 2018 linkBest for Governance 2017

Impact Area Scoresinfo_outline

info_outlineOverall B Impact Score

To certify as a B Corp, a company must achieve a minimum verified score of 80 points on the B Impact Assessment. The B Impact Assessment asks questions about how the day-to-day operations of a company create positive impact for the company’s workers, community, and environment. Additionally, companies can earn further points if their overall business model can be shown to create positive social and environmental impact as well, qualifying the company for specific Impact Business Model points.

Scores for Certified B Corporations are verified by the non-profit B Lab.

info_outlineImpact Area Scores

The questions in the B Impact Assessment are organized into five Impact Areas: Governance, Workers, Community, Environment, and Customers. Click into a Impact Area to see topics covered in each. Topics in blue are Impact Business Models associated with that Impact Area where the company has earned additional credit. Due to rounding, displayed totals may not add up exactly.

The B Impact Assessment is customized to a company's size, sector, and geographic market.  However, within those parameters, there are still questions included in the B Impact Assessment that might not be relevant to a particular company. In cases where a question is not applicable, the potential points available for that question are instead earned based on the performance of the company on the other topics relevant to the stakeholder and summed up as "N/A points." Likewise, a score of N/A for Workers means that the company is a sole proprietor or partnership with no full-time staff, and a score of 0 or N/A for Customers means that the company does not have a specific Customer-focused Impact Business Model.

Previous Overall B Impact Score

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info_outlineBest for the World Honoree

Each year, B Lab releases lists honoring the top-performing Certified B Corps in each Impact Area and overall, broken down by size, on the annual Best for the World lists.

info_outlineAdditional Documentation

B Lab may determine that a company should make additional material beyond their B Impact Report transparent in order for the public to be able to evaluate the company’s overall impact. This additional transparency may cover participation in a controversial industry, information shared on the company’s Disclosure Questionnaire, or simply a company’s relationship to a larger complex entity. Public companies and wholly-owned subsidiaries are required to make their full B Impact Assessments transparent to achieve B Corp Certification.