Being a B Corp - a force for good
Certified B Corporations are leaders in the global movement for an inclusive, equitable, and regenerative economy. This movement brings together a wide range of like-minded organisations that believe that business can and should be a force for good.
These include businesses like Patagonia, Pathfinder, Allbirds, Ethique. Find out more here.
Our thoughts on being a B Corp
We achieved our B Corp certification in August 2022, with a score of 102.9. The average score of all organisations who complete the B Corp Impact Assessment is 50.9, with a score of 80.0 required to certify as a B Corp. Moneyworks is the first financial adviser and 77th company to become a B Corp in New Zealand and we join over 5200 businesses around the world, working to make the world better.
Being a B Corp reflects our values, our interactions with clients, our team and community and the environment. These values are reflected in our approach to ethical investing, and our education of clients to understand how and why they are investing and how to achieve their goals.
We also work hard to hold the fund managers that we recommend to our clients accountable, through our active engagement with them.
Being a part of the B Corp community is exciting for us, as we have already learned a lot through the certification process, and we look forward to sharing and learning more, to help make our business and our stake holders experience of working with us better (on an ongoing basis).
There are five categories that are assessed, we found the process very rigorous, requiring proof of our claims. The categories are Governance (we are mission locked through our Constitution to uphold the principles of doing business for the good of the planet, our clients, team and community), Workers, Environment, Customers and Community.
Re-certification is required every three years, and the requirements are continually evolving and changing.
We strongly encourage any business that is thinking about how to make their business good for the world to look at the B Corp certification process.
Harvard Business Review - Why Companies are Becoming B Corporations
"To become a B Corp, you need to be certified by B Lab, a non-profit organisation. B Lab certifies companies based on how they create value for non-shareholding stakeholders, such as their employees. the local community, and the environment. Once a firm crosses a certain performance threshold on these dimensions, it makes amendments to its corporate charter to incorporate the interests of all stakeholders into the fiduciary duties of directors and officers. These steps demonstrate that a firm is following a fundamentally different governance philosophy than a traditional shareholder-centered corporation."