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Corporate Announcements

We’ve increased our B Corp score as we continue to be a force for good.

5 minute read
16 February 2023
Corporate Announcements

It’s official. We are thrilled to announce Beyond Bank has again recertified as a B Corp, improving our impact score by 50% from 97.5 to 146.7.

Our highest B Corp score yet, we are proud to be leading the banking sector for the impact we have on our people, customers, communities, and the environment.

B Corps are part of a global community of businesses that are redefining what success looks like by doing business better. This certification demonstrates that we are using our business as a force for good. Good for people and the planet.

Our purpose as a business is not just to make money, but to have a positive contribution to society – to the people we serve and employ, the communities we operate in and in a way that values and protects our natural environment.

For over 60 years we have put our customers and communities first to deliver banking products and services that meet their needs, helping to secure their financial wellbeing and delivering on our purpose to change lives.

Since our last recertification in 2017, we have created positive impact for our stakeholders by:

  • redefining our purpose strategy to focus on financial wellbeing, relationships and community impact that helps to change lives
  • increasing the banking services we provide to our customers in metropolitan and regional locations
  • providing support to customers in our marginalised or in-need communities, particularly our rural communities
  • being local and supporting locals, including local jobs, suppliers and businesses
  • giving back to the community to help solve some of our most challenging social issues
  • being inclusive and doing more to represent the communities we serve
  • being an ethical and responsible business that brings benefits to not just a few, but all stakeholders
  • changing our constitution to ensure we are governing our business for the long term
  • committing to net zero emissions by 2050 and using renewable energy across 50% of our locations.

 

What is B Corp?

It’s a holistic business certification that verifies that we are meeting high standards for social and environmental performance across our entire business model and supply chain.

B Corps have a shared vision to transform the economic system into a more inclusive, equitable and regenerative global economy. B Corp certification embeds accountability to act in the interests of all stakeholders. It also legally mandates businesses to be transparent by publicly reporting on the impact we have on all stakeholders - our workers, customers, community, the environment and how we are governed.

This impact assessment and our score is then verified every three years by an independent third party to ensure we are doing what we say we are. Learn more about this score and why it matters.

Milestones on our B Corp and impact journey.

2015 – First Australian Bank to be B Corp certified (105 points)

2017 – Successfully re-certified (98 points)

2019 – Launched our new purpose strategy – changing lives

2019 – Opened our first inclusive and accessible branch design in our Canberra City branch

2019 – Received a Green Industries SA grant to improve our recycling program to reduce waste going to landfill

2020 – Enhanced our flexible working arrangements as an employee benefit

2020 – Created Local Leadership Teams across our regions to represent local voice

2020 – Entered the VIC market and grew our regional footprint in Sale, VIC

2021 – Responsible procurement focus to help tackle modern slavery including the launch of our Human Rights Policy and Supplier Code of Conduct

2022 – Grew our regional footprint in Warrnambool, VIC

2022 – Re-certified (147 points) with an increase of 50% in our score

2022 – 50% of our locations are now powered using green renewable energy

2022 – B Corp legal accountability was achieved through amendments to our Constitution to include purpose and stakeholder considerations.


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