B the Change you Seek in the World.
Why Future Friendly became a B-Corporation
Since B-Corp’s conception in 2006 only 165 companies in the Australia and New Zealand region and just over 2,000 globally have been B-Corp certified and signed a binding commitment to people, planet and a recognition of our responsibility to each other, and future generations.
Put simply, B-Corp is to business what Fair Trade is to coffee. The ‘B’ in B-Corp stands for Benefit; the model provides an alternative from Not-For-Profit and traditional company structures. It creates a classification for organisations that focus not only on profit but the well-being of their staff, communities and the environment.
The certification allows socially minded organisations to embed their ethical charters in the fabric of their organisation. How embedded? In more than half the states in the USA a B-Corporation is a legal entity and carries its own unique set of rules and legal requirements as you would find with incorporating a charity or ordinary company.
As you might expect the accreditation process is no simple matter, generally taking between three months and two years to complete. Companies are required to expose everything from finances & client lists to suppliers & employee satisfaction reports. And if you don’t have procedures or policies that meet B-Labs stringent requirements, you will need to create, document and implement them before submitting them for re-assessment.
While B-labs is very supportive in the process, the vast majority of companies will simply not be willing or open enough to generate the points required to pass.
That’s why we are very proud to announce that Future Friendly has just been inducted to the ranks of B-Corporation.
“As Australia’s first purpose-driven agency we’re excited to join the B-Corp family after watching it take root and grow into a much-needed respected mark of authenticity for the social impact sector. We look forward to connecting with the many new faces in the movement to make business a force for good in the world” — says David Gravina, Purpose Director at Future Friendly.
B-Corp was a logical accreditation for Future Friendly whose key focus is to solve the big problems faced by business, government and the not-for-profit sector, helping purpose driven organisations to scale their impact in the world. This is achieved through inclusive co-design process with community and stakeholders to help unearth issues and help define the best way to approach organisational transformation.
“We identified B-Corp as a movement that will most impact the success and direction of a socially minded business, like our own. Once awarded B-Corp, a company can confidently prove to the market it meets the highest standards of verified social and environmental performance, public transparency and legal accountability.” — says Jamie Madden, Managing Director.
As part of its organisational design offering, Future Friendly can now help guide companies through the process of achieving the internationally recognised and respected B-Corp certification by applying their already specialised knowledge in the area.
“The benefits not only extend to proving how different you are to competitors, it also provides a way to clearly benchmark performances. We see so many corporations doing such great work, and through B-Corp these efforts can be recognised” — says Jamie Madden
Future Friendly already provides NGOs, government, business and industry bodies ethical practice advice, and with the addition of B-Corp, FF aims to be an even more attractive partner for projects that combine complex stakeholder groups and the interests of the community and environment.
“We are excited about the opportunity B-Corp will provide for identifying and partnering with values aligned Organisations. A strong alignment of values super-charges team communication, central to co-designing solutions that create big impact.”
If you consider your company to be a purpose driven organisation or if you want to start the journey to a more responsible model of business, you are not alone, there are bold organisations around the world joining the B-Corp ranks, Etsy, Patagonia, Ben & Jerry’s to name a few.
A US study showed 40% of millennials in the US, say they would be willing to pay MORE for socially or ethically conscious products, but perhaps of greater regional relevance in the Australian market is that number increased to 60–65% of millennials in China and India.
So maybe it’s time to start your B-Corp application, after all, the future will belong to the bold organisations who get there first.
For more information on Future Friendly visit: wearefuturefriendly.com
For more information on B-Corporation visit: bcorporation.com.au
For more information contact :
Jamie Madden (Managing Director Future Friendly)
hello@wearefuturefriendly.com
