COMMITMENT TO SYSTEMIC CHANGE B Lab operates as a global network, with each regional branch working toward the organization’s unified mission: to create an equitable and regenerative economy. Davies explains, “We’re working to create an equitable, inclusive, and regenerative economic system. Our work rests on the idea of systems change.” Through the B Corp certification, B Lab encourages companies to move beyond profit as their sole driver and, instead, to prioritize positive impact on people and the planet. Davies emphasizes that B Corp is more than a label— it’s a rigorous certification requiring businesses to analyze their practices deeply across multiple areas. “It’s a business certification for ethical and sustainable business performance,” he explains,“and we’re known for having some of the highest social and environmental performance standards.” This commitment to high standards is central to B Lab’s philosophy, with certified businesses as examples of what Davies hopes will become the new norm in business practice. CORPORATE RESPONSIBILITY IN ACTION The last few years have seen a surge in interest from businesses eager to become B Corp certified, even during the pandemic—a period that could have seen companies shy away from extra initiatives. Surprisingly, Davies says, “The opposite happened. We were overwhelmed by demand through the pandemic period,” attributing this increase to a rising global awareness of corporate responsibility. “Businesses increasingly recognize their role in driving change, whether addressing climate change, social inequality, or other pressing issues.” The pandemic, he notes, highlighted the need for accountable and sustainable business practices, spurring companies to seek frameworks like B Corp certification to improve their performance. Over the past five years, B Corp certification in Australia has grown exponentially. There are now approximately 750 B Corps in the region, representing around $22 billion in revenue and employing some 45,000 people—a significant economic footprint that underscores the movement’s relevance and growing impact. B CORP CERTIFICATION B Corp certification is a comprehensive process structured around three main requirements: performance, transparency, and legal accountability. According to Davies, the certification assesses five key areas: customer impact, community engagement, governance, employment practices, and environmental footprint.To achieve certification, companies must reach a benchmark score of 80 points.“Most businesses on their first try might land somewhere in the fifties,” says Davies, highlighting that many must rethink and redesign aspects of their business to meet B Corp’s rigorous standards. The commitment to transparency requires companies 23 BUSINESS VIEW OCEANIA VOLUME 06, ISSUE 11 B LAB AUSTRALIA & AOTEAROA NEW ZEALAND
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