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.
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.
The B Corp movement?
Since its foundation in 2008, B Corp has grown rapidly as a huge international movement. CIRCLE Alliance Bank joins over 1,300 organisations from more than 121 industries in 41 countries that have also achieved the accreditation. 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.
This means that we act with the understanding that we are each dependent upon another and thus responsible for each other and future generations.