Birdseye view of people coming together to form the letter B

Local B Corps hit milestone

Ruby Kraner-Tucci
The B Corp community is celebrating 500 certifications in Australia and New Zealand. There are now 500 B Corporations operating in Australia and New Zealand, employing almost 30,000 people and generating over $13 billion in revenue each year. According to a statement released by the company today, there are 409 registered B Corps in Australia and 91 in New Zealand, with these figures growing weekly. The regional milestone coincides with the number of B Corps around the world exceeding 6,000. B Lab Australia and Aotearoa New Zealand?s impact and growth director Mindy Leow said the achievement made in a decade of operating in the region demonstrates a shared vision that businesses can be a force for good. ?This is such a monumental achievement for our region,? she said in a statement to the local B Corp community. ?Importantly, we also celebrate the 10-year anniversary of two early adopters of the certification in Small Giants and Eagle Group, who dared to believe in this bold idea and paved the way for others.˜ ?Despite some progress, accountability remains all too rare in the wider business community. Yet by submitting yourselves to B Lab?s rigorous and independent certification, there are now at least 500 businesses in our region embracing a model of stakeholder governance that is creating a more inclusive, equitable, and regenerative economic system for all.? B Corp certification is a globally recognised impact measurement administered by B Lab that demonstrates a business is meeting the highest standards of social and environmental practice. In order to be certified, an organisation must achieve a B Impact Assessment score of 80 or above, which measures positive impact across key areas including governance, workers and community.˜ Organisations must also make a legal commitment to change their governance structure to ensure accountability for all stakeholders, and exhibit transparency by publicly sharing information about their performance against B Lab?s standards. ?It might have taken us 10 years to get to 500, but we know that the next 500 will take nowhere near as long, as you continue to champion a better way to do business, and reshape the role of business in society,? continued Leow. ?At B Lab, it is a privilege to support your work and we are continually grateful to all of you who continue to embrace the hard work of doing what matters.?

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