So, what is B Corp?
B Corp is many things.
It is a method for measuring our social and environmental performance, beyond just financial performance.
It is a framework that makes us accountable and requires us to be transparent about how well we are doing and where we can do better.
It is an independent certification that verifies the positive impact we aim to create for all stakeholders that consumers can trust.
It is a community of likeminded individuals and businesses that are using business as a force for good to create change and make a difference.
It is a journey to redefine success in business by setting a high benchmark for what good looks like and helping us strive to be better.
So, what makes us a B Corp?
Firstly, to certify as a B Corp we must achieve the high standard set for what good looks like. This means we are required to achieve at least 80 impact points out of a total of 200 to become a B Corp. We do this by completing an impact assessment across the five impact areas of governance, workers, customers, community and environment. At last review and subject to verification, our impact assessment score is 139.
Secondly, it’s who we are as a customer-owned organisation. Putting our customers first and supporting our communities is in our DNA. It’s what we do.
As a customer-owned bank, everything we do is benefit the customers and their communities. We are not conflicted by the requirement to maximise profits or serve the needs of shareholders. B Corp recognises this and the principles of co-operation on which we were founded.
It also allows us to take a longer-term view on how we achieve this impact. In this way, we can commit to developing sustainable relationships, investments that promote lifelong outcomes and delivering programs that support strong communities.
B Corp is how we build on our ideals of mutuality and bring it into the 21st century to be a more sustainable business that benefits all.
Our B Corp certification is how you can trust that we are for and with you.
To find out more about what it means to be B Corp, watch this video: