Today, Australian Ethical was recognised for creating the most positive overall community impact by B the Change Media based on an independent, comprehensive assessment administered by the independent nonprofit B Lab.
Honorees are featured in the upcoming issue of B Magazine and on B the Change’s digital platform. They were also honored at the first-annual Best for the World Celebration & Awards Ceremony at the University of California, Berkeley’s Haas Business School.
Australian Ethical is honored in the Best for the World list, which includes businesses that earned scores in the top 10 percent of more than 1,800 Certified B Corporations across all categories on the B Impact Assessment.
The full assessment measures a company’s impact on its workers, community, customers and the environment. The 138 winning companies in the Overall category come from 15 industries and 17 countries.
Australian Ethical is also honored in the Best for Customer and Best for Worker categories.
The full B Impact Assessment evaluates a company’s environmental performance through its facilities, materials, emissions, resource and energy use, and more. It assesses employee relationships in forms such as compensation, benefits, training and ownership opportunities. Community scores are given by looking at supplier relations, diversity, involvement in the local community, and other product or service-related impact points. Customer performance is assessed based on the impact a company’s product or service has on those it serves. Honorees scoring in the top 10 percent of all categories set a gold standard for the high impact that business as a force for good can make in many disciplines around the world.
The 138 Best for the World companies come from 15 different industries such as manufacturing, financial services and engineering. B the Change Media simultaneously released separate lists recognizing B Corporations as Best for Environment, Best for Workers, Best for Customers and Best for Community, which can be found here.
Commenting on the win, Australian Ethical Managing Director Phil Vernon said: “We take our obligation to people and the planet seriously, and we are committed to making money do good through our ethical approach to investing.
“We are pleased to be recognized with the ‘Best in the World’ title, alongside honorees from across the globe who share our priorities and conduct business in a responsible, sustainable and moral manner.”
A total of 515 Certified B Corporations were named 2016 Best For the World Honorees, in thirty-five countries including Afghanistan, Kenya, Vietnam and Turkey. The selection criteria for Best for the World honorees are available here.
The 2016 Best for the World Honorees represent nearly one-third of all B Corps, displaying a wide range of excellence throughout the community. Today there are more than 1,800 Certified B Corporations across over 120 industries and 42 countries, unified by one common goal: to redefine success in business. Any company can measure and manage social and environmental performance.