Community Sector Banking recognised as a B Corp Changemaker
Community Sector Banking has been recognised as one of the world’s best B Corps for its longstanding commitment to the NFP sector
The not-for-profit banking specialist, Community Sector Banking (CSB), has been honoured as one of the world’s best B Corps.
CSB was recognised on B Lab’s Best for the World: Changemakers list for its commitment to the not-for-profit sector and for supporting charities and social enterprises with their unique needs that are not always met by traditional banks.
“Being named a Best for the World: Changemaker is validation of our commitment and belief in business being a force for good,” said Andrew Cairns, CEO of Community Sector Banking.
“We don’t see this approach as an expense, but rather an investment in our people, communities and environment, which makes good business sense.”
Originally formed 15 years ago as a collaboration between Bendigo Bank and Community 21, a consortium of not-for-profit organisations, the company was recognised in 2014 as Australia’s first B Corp certified Australian banking service.
Having been recertified in 2017, the company has received further accolades, being recognised today as one 2018’s Best for the World: Changemakers companies by B Lab, the not-for-profit governing body of B Corp.
B Lab’s Best for the World: Changemakers list recognises the improvement made by B Corporations as a force for good from one certification to the next. Certified B Corporations complete a comprehensive assessment and re-certify every three years. They must meet the highest standards of social and environmental performance, and legally expand their corporate responsibilities to include consideration of stakeholder interests.
B Corp certification is run by B Lab and is used to independently assess a company’s social sustainability and environmental performance standards, meet accountability standards, and to be transparent to the public according to the score they receive on the assessment.
“Best for the World is the only list of businesses that uses comprehensive, comparable, third-party-validated data about a company’s social and environmental performance,” said Jay Coen Gilbert, co-founder of B Lab.
“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. And not just to be nice, but to be the most successful.”
So far over 2400 companies across more than 150 industries and 50 countries have been certified.
The 2018 Best For The World: Changemakers list contains 203 companies from 66 industries across 16 countries.