It’s B Corp month. To celebrate, here’s how receiving B Corp certification last year has helped us become a better bank for our customers, and a better business for the world.
The theme of B Corp month in 2021 is Better Business. When we opened our doors in 1957, we strived to be a better bank for our customers and a better business for the world. Because if we’re not doing that, then… what else is there?
But how exactly does being a B Corp make us a better bank?
1. We've joined a network of 'better' banks across the globe...
B Lab, the organisation behind the B Corp certification, have investigated and analysed us, just like they have other B Corp banks around the world. We’re proud to sit alongside B Corp certified banks, like the Amalgamated Bank in New York and Triodos Bank in the Netherlands. As more banks and financial institutions go through the process to receive certification, it demonstrates that ethical banking is no longer an oxymoron; it’s something that customers want – and need.
2. …and we’re part of a global community of better businesses, too
It’s not just B Corp banks we’re rubbing shoulders with. There are over 3,400 B Corps across the world, which include Ben & Jerry's, who are selling ice cream and fighting systemic racism, Patagonia, who keep us warm on epic adventures and provide a lifetime guarantee on their products, and Who Gives A Crap, the toilet paper company encouraging cardboard box creativity while building toilets in impoverished communities. By being a part of this global community, we’re able to learn from and push each other to keep building the kind of world we want to see.
And we want to have as much impact as these incredible and inspiring B Corps.
When you choose to bank with a certified B Corp, your deposits are literally helping us build that world, every day. Your business with us enables us to support organisations and initiatives that will help create a positive impact on people, their communities, and the planet through our loans, investment and equity. We put our money into things like energy-efficient housing developments, renewable energy projects, and not-for-profit organisations.
We also provide grants to our community customers, which support a range of awesome projects across Australia – things like waste management apps, employment training programs, and facilitating conversations around climate change.
3. We’re held accountable
B Corp certification involves a pretty rigorous application process to get there. We’re talking hundreds of questions and months of work assessing all the ins and outs of our business. Things like:
- what type of toilet paper we use (shout out to Who Gives A Crap!),
- where we get our electricity from (hint: 100% renewables!)
- whether or not we use local suppliers (we do!) and
- what brand of coffee we use in our kitchens.
To get the B Corp stamp, businesses must meet the highest standards of social and environmental performance, public transparency and legal accountability to balance profit and purpose. Those standards don’t stop once you receive certification either – you need to go through the whole process again every three years, meaning we can’t afford to drop the ball on anything.
Becoming a B Corp is constantly evolving. Each time we go through the certification process, we need to do better than our previous score. That means, we’re going to improve anything and everything we can. Being a B Corp requires it, but we want to do better, too. When it comes to meeting the highest social and ethical standards in the world, we’re in this for the long haul.
4. It helps make your banking experience better
If you’ve called us or dropped into a branch at any point recently, you might have noticed how friendly, attentive and empathetic our staff are. When you call our Moe contact centre or drop into a branch, you’re seeing and hearing the B Corp ethos too. We’re committed to providing a safe, empowering and supportive working environment for all of our staff (and interns like Emmanuel!) which makes the physical experience of banking… better.
Intrigued? Find out more about what it means to be a B Corp.
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