CSB Named Among World’s Best B Corps

Community Sector Banking has been named one of the world’s best B Corps, which the not-for-profit banking specialist says validates its “commitment and belief in business being a force for good”.

On Wednesday, CSB was selected on B Lab’s Best for the World: Changemakers list, which recognises improvement made by B Corps from one certification to the next.

B Corps are businesses which act as a “force for good”, and must complete a comprehensive assessment from B Lab and recertify every three years, ensuring they meet rigorous standards of social and environmental performance, accountability, and transparency.

CSB CEO, Andrew Cairns, said he was delighted the organisation had scored among the world’s best B Corps.

“Being named a Best for the World: Changemaker is validation of our commitment and belief in business being a force for good,” Cairns said.

“As Australia’s first banking service to be certified as a B Corporation, and the only one dedicated to our not-for-profit sector, helping to make genuine positive change is our priority.

“We don’t see this approach as an expense, but rather an investment in our people, communities and environment, which makes good business sense.”

The 203 companies named on the Changemakers list come from 66 industries across 16 countries.

Coen Gilbert, the co-founder of B Lab, congratulated the businesses listed.

He said Best for the World was the only list of businesses that used “comprehensive, comparable, third-party-validated data about a company’s social and environmental performance”.

“As consumers, talent and investors increasingly demand transparent, values-aligned businesses to buy from, work at and invest in, companies will need to not just be the best in the world, but the best for the world,” Gilbert said.  

This original 2018 Best For The World Honorees list was released in May, with 69 Australian and New Zealand B Corps recognised including CSB.