2019 Impact 25
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  Governance

Community Sector Banking Certified as a B Corp


Wednesday, 1st July 2015 at 10:47 am
Lina Caneva
Community Sector Banking has become the first banking service in Australia to be certified as a B Corporation - a company that uses the power of business to solve social and environmental problems.

Wednesday, 1st July 2015
at 10:47 am
Lina Caneva


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Community Sector Banking Certified as a B Corp
Wednesday, 1st July 2015 at 10:47 am

Community Sector Banking has become the first banking service in Australia to be certified as a B Corporation – a company that uses the power of business to solve social and environmental problems.

B Corp certification provides a globally recognised standard for sustainable business.

B Corps are certified by the Not for Profit organisation B Lab to meet rigorous measures of social and environmental performance, accountability, and transparency.

“We are absolutely delighted to achieve this certification which is a natural fit with our values, and recognises our contribution in building a more equitable society,’ Community Sector Banking CEO and Managing Director, Greg Peel said.

Community Sector Banking now joins over 1,200 companies from more than 121 industries in 41 countries that have also achieved the accreditation.. There are currently 62 B Corps in Australia.

Community Sector Banking is a joint venture between Bendigo and Adelaide Bank and Community 21, a coalition of Not for Profit organisations including Jobs Australia, Oxfam Australia, Scope and welfare peak body, ACOSS.

“As a profit for purpose organisation, we are passionate about driving positive social change through society and supporting organisations that make this happen every day,” Peel said.

“Community Sector Banking is half owned by a consortium of Not for Profits, which brings strong influence on our governance and vision. It has encouraged us to create innovative funding models such as an affordable housing bond, annual grants for social investment, and awards to recognise achievement in social housing. Not least, our world first banking service called act. combines crowdfunding with banking, to transform the way individuals and organisations can invest in their communities.

“B-Corp certification is an important global movement – we encourage more opportunities and acknowledgement of organisations committed to redefining success in business,” Peel said.

Alicia Darvall, Executive Director, B Lab Australia and New Zealand said she was thrilled to welcome the first banking service, Community Sector Banking into the Australian B Corp community.

“Their mission is to find financial solutions for social enterprises, Not for Profits and help the marginalised in our community, which fits entirely with the spirit of B Corporations – working towards redefining the success of business,” she said. 

Under the global certification, B Corporations must meet the highest standards of overall social and environmental performance, legally expand their corporate responsibilities to include consideration of stakeholder interests, and build collective voice through the power of the unifying B Corporation brand.

Pro Bono Australia was certified as a B Corp in August 2014.

 


Lina Caneva  |  Editor  |  @ProBonoNews

Lina Caneva has been a journalist for more than 35 years. She was the editor of Pro Bono Australia News from when it was founded in 2000 until 2018.


Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Drought assistance not a sufficient prescription for rural mental health

Andrew Cairns

Thursday, 14th November 2019 at 7:45 am

How is the community sector faring in 2019? Have your say

Wendy Williams

Wednesday, 30th October 2019 at 3:07 pm

We rise and fall together

Andrew Cairns

Thursday, 17th October 2019 at 7:30 am

Mindset hacks for a bigger impact: The importance of questions

Clare Desira

Wednesday, 4th September 2019 at 8:22 am

POPULAR

The NDIS needs a new plan

Wendy Williams

Tuesday, 3rd December 2019 at 8:15 am

White Ribbon Australia to see another day

Maggie Coggan

Monday, 25th November 2019 at 5:05 pm

Aussie charity wins Business of the Year Award

Luke Michael

Monday, 25th November 2019 at 3:55 pm

Government vows to remove young people with disability from aged care

Luke Michael

Thursday, 28th November 2019 at 8:11 am

2019 Impact 25
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!