B Corps – redefining success in business

By B Lab - Australia & New Zealand

20 October 2015

“The rise of B Corps is a reminder that the idea that corporations should be only lean, mean, profit-maximizing machines isn’t dictated by the inherent nature of capitalism, let alone by human nature. As individuals, we try to make our work not just profitable but also meaningful. It may be time for more companies to do the same” – The New Yorker

B Corporations represent an emerging group of companies that are using the power of business to create a positive impact on the world and generate a shared and durable prosperity for all.

Over 1,400 Certified B Corps in 121 industries, across 42 countries have already joined our global community. We’re all working towards one goal – that one day all businesses will compete not only to be best in the world, but best for the world.

Certified B Corporations have undertaken the B Impact Assessment, scored over 80, and have signed a term sheet that declares that they will consider all stakeholders. It is a rigorous assessment that explores a company’s governance, transparency, environmental and social impact. B Corps voluntarily hold themselves to a higher level of accountability in these areas.

Certified B Corporations use their company as a force to solve social, environmental and economic issues across the globe. A great example of this is B Corp Three Sista’s, a social enterprise based in Cairns and Queensland that provide transitional and crisis accommodation for homeless people, whilst working to the mantra of “a hand up, not a hand out”.

We believe Government and the not-for-profit sector are necessary but insufficient to address society’s greatest challenges. Business, the most powerful force on the planet, must create value for society, not just shareholders. Systemic challenges require systemic solutions and the B Corp movement offers a concrete, market-based and scalable solution.

Meet some of the inspiring B Corps from the Australian and New Zealand Community who will be sharing their journey at PURPOSE:

To find out more about the movement or how to join the global movement of companies using business as a force for good, visit bcorporation.com.au.


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