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 holds us accountable and requires us to be transparent about our performance and areas for improvement.
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 like-minded individuals and businesses that use 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 improve.
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 the last review, which is subject to verification, our impact assessment score was 139.
Secondly, it’s who we are as a customer-owned organisation. Putting our customers first and supporting our communities is part of our DNA. It’s what we do.
As a customer-owned bank, everything we do benefits 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 cooperation on which we were founded.
It also allows us to take a longer-term view of 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:
