A series of local and global destructive events have made it clear that ‘business as usual’ isn’t an option anymore. ‘How can we create a new business model for the economy?’ has become a burning question.
The B Corp movement has been pioneering a new way of doing business, which requires increased stewardship and a real shift in priorities. BioPak is a B Corp because we believe in profit for purpose, using business as a force for good.
What are Certified B Corporations?
Certified B Corporations (or B Corps) are businesses that meet the highest standards of verified social and environmental performance, and public transparency.
Businesses start their journey towards becoming a B Corp by completing the B Impact Assessment (BIA), which is a free tool designed to help holistically measure business performance and impact across five pillars:
To certify, a business must achieve the benchmark score of 80 or above and agree to legal certification requirements. To maintain certification, B Corps update their BIA and verify their updated score every three years.
How big is the B Corp movement?
B Corps is a truly global movement. There are over 3,300 Certified B Corps operating in 150+ industries across 71 countries. Big or small, companies from many industries are certified B Corps, including iconic ones like Patagonia, Ben & Jerry’s, Ecosia and The Body Shop.
Australia and New Zealand is the fastest-growing region for B Corps with 270 companies certified currently from 46 different industries.
This is a community of leaders, driving a global movement of people using business as a force for good. For instance, over 500 B Corps have publicly committed to reduce their greenhouse gas emissions to achieve net zero by 2030 at the UN Climate Change Conference COP25 in Madrid. This is 20 years ahead of the 2050 targets set in the Paris Agreement.
Why BioPak is a certified B Corp
We share the values of the B Corp community and we believe that the framework provided by the B Impact Assessment is the perfect roadmap to create a better way to do business. BioPak was founded with a mission to address the environmental impact of single-use disposable packaging made from fossil-based plastic and has been a certified B Corp since 2018. No company is perfect but being part of this global movement has helped us define a formal plan to improve on several fronts, learn from fellow B Corps and implement industry best practices.
Certifications matter because they affirm that a company’s claims have passed specific performance, sustainability and quality assurance tests and have been verified by a third party. In an industry rife with false and misleading environmental claims, being a certified B Corp provides consumers with a level of trust with regards to the ethos of the business. But more than a solid marketing attribute, it has also helped incorporate a triple bottom line of ‘People Planet Profits’ into the business DNA. The B Impact Assessment tool and the recertification process provide a roadmap to continuously improve how we do business.
BioPak is also part of the B Local Sydney committee, which runs a local chapter dedicated to growing an active community of Sydney-based Certified B Corps.
How can you get involved?
The ‘B Economy’ is much greater than just all B Corps. It’s built by everyone who works for, buys from, invests in, learns or teaches about, or supports businesses striving to create shared and durable prosperity for all.
Here are a couple of options to get involved:
Vote with your wallet
By choosing brands that align with their values, shoppers are voting with their wallets for the kinds of businesses they want in the world. Look for the B Corp Logo or find a local B Corp here.