B Corp certification provides a globally recognised standard for sustainable businesses demonstrating that they use the power of business and profit to solve social and environmental problems.
B Corps are certified by the not-for-profit organisation B Lab and are required to meet rigorous measures of social and environmental performace, accountability and transparency through:
- Building a community of Certified B Corporations to make it easier for consumers to identify good companies.
- Accelerating the growth of the impact investing asset class through use of B Lab's impact rating system.
- Promoting supportive public policies.
- Providing free, powerful tools for businesses to measure, compare and improve their social and environmental performance.
Why did we become a B Corp?
Being a B Corp gives certification to our business model and provides an easily recognisable way of proving that we are a social business, not just a financial institution. In addition, as an organisation that differentiates itself from mainstream banking, it's important we align ourselves with like-minded businesses, not-for-profits and social enterprises not only in Australia, but across the globe.
Community Sector Banking is the first banking service in Australia to receive this standard of sustainable business.
The B Corp movement?
Since its foundation in 2008, B Corp has grown rapidly as a huge international movement. Community Sector Banking joins over 1,300 organisations from more than 121 industries in 41 countries that have also achieved the accreditation. There are currently 62 B Corps in Australia. The range of B Corp companies is wide in Australia, including Australian Ethical Investment, Pro Bono, Five AM Yoghurt and KeepCup.
As B Corps, we envision a global economy that uses business as a force for good.
This economy is comprised of a new type of corporation - the B Corporation - which is purpose-driven and creates benefit for all stakeholders, not just shareholders.
As B Corporations and leaders of this emerging economy, we believe:
- That we must be the change we seek in the world.
- That all business ought to be conducted as if people and place mattered.
- That, through their products, practices and profits, businesses should aspire to do no harm and benefit all.
- To do so requires that we act with the understanding that we are each dependent upon another and thus responsible for each other and future generations.
Find out more at http://bcorporation.com.au.