The B-list to be on: Australian companies speed up chase for B-Corp status
The number of Australian companies seeking to flex their ethical credentials by obtaining B-Corporation status has doubled since the pandemic, according to local CEO Andrew Davies.
The number of Australian companies seeking B-Corporation certification has more than doubled since before the Covid-19 pandemic, according to the annual report of certifying body B Lab.
In the past year, 154 companies successfully obtained B-Corp status, taking the total number of certified organisations in Australia to 571. Globally, 8942 have successfully gained the certification, in which companies need to demonstrate evidence of superior environmental, social and ethical performance.
B Lab Australia and New Zealand CEO Andrew Davies said there isn’t one industry or business model that dominates B-Corp certification applications. Recent additions have come from the fast moving consumer goods (FMCG) food and beverage and clothing, footwear and apparel industries, he noted.
“The interest from fashion labels comes from an industry that is increasingly well-aware of its global footprint and how it can continue what it’s doing,” he told Capital Brief.
