that many must rethink and redesign aspects of their business to meet B Corp’s rigorous standards. The commitment to transparency requires companies to disclose their performance in a global directory accessible to anyone. Davies states, “This public accountability is key for ensuring that companies remain committed to their impact goals.” Finally, the legal requirement mandates that companies embed a purpose-driven mission into their organizational DNA.“It’s not enough to simply declare that you care about stakeholders; it must be formalized in a company’s constitution or shareholder agreements,” says Davies. This commitment to stakeholder governance is fundamental in ensuring businesses remain true to their ethical mission, even as they navigate challenges and growth. ONGOING ACCOUNTABILITY AND COMMUNITY SUPPORT B Corp certification isn’t a one-time achievement; companies must recertify every three years. Davies explains that the process is as thorough the second time around as it was initially.“We assess documents, visit larger companies, and even talk to employees or suppliers.The goal is to ensure that these companies are meeting standards and continuously improving.” Beyond the certification, Davies underscores the power of the B Corp community.“We don’t just certify them and leave them to their own devices,” he says. B Lab organizes events and programs where B Corps can collaborate on issues they collectively care about, from climate change to sustainable packaging. This sense of community encourages companies to “work together to solve problems and drive change,” fostering a network of ethical businesses committed to collective impact. STORIES OF SUCCESS One of the movement’s shining success stories is KeepCup, a company at the forefront of developing reusable coffee cups. “They targeted cafes to stop single-use, disposable coffee cups,” Davies notes. KeepCup’s success has since inspired other businesses in Australia and beyond to adopt similar solutions. “It’s now common to bring your cup for takeaway coffee in our part of the world,” he adds, underscoring how individual businesses can drive systemic change. Another notable example is R.M. Williams, the iconic Australian bootmaker. As a heritage brand with nearly 150 years of history, R.M. Williams recently achieved B Corp certification, marking a significant commitment to sustainability and social responsibility. “Brands recognize that they can no longer rely just on product-based claims around quality” says Davies. “They also need to have a credible conversation about sustainability.” By certifying as a B Corp, R.M. Williams demonstrated that established companies with long histories are evolving to meet modern standards of corporate responsibility and sustainability. WORKING WITH GOVERNMENTS 24 BUSINESS VIEW OCEANIA VOLUME 06, ISSUE 11
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