Why did Greatest Good want to become a B Corp™?

It’s a question we've been asked a lot since we announced our application. The short answer is that it aligns with the values of Greatest Good and being an organisation that is purpose-driven. In reality, it’s just in our DNA as a social enterprise committed to making positive social impact and change. So we are extremely excited and very proud to announce that in February 2024 Greatest Good became a Certified B Corporation™ or B Corp™!

The longer answer is that it aligns with so many things we do, including:

• Greatest Good was initially, and continues to be, co-designed with key stakeholders. B Corporations are organisations that focus on identifying and serving all stakeholders, rather than just shareholders. To focus purely on short-term performance or share prices, without considering the greater impact on society, lacks long-term strategic thinking and commercial viability. Customers now expect and seek out organisations that are committed to doing good, which also aligns with the expectations of employees you want to both attract and retain
• Completing the Benefit Impact Assessment (BIA) as part of the B Corp Certification™ gives us a benchmark and how good our good actually is. It also provides us with clear guidance on where we can improve
• Consumers are becoming increasingly aware of what their values are and are actively seeking out organisations aligned with these values. Having a B Corp Certification gives consumers the credibility they need without having to do their own deep dive and due diligence. As an aside, because Greatest Good supports social enterprises, B Corps, charities and other not-for-profit’s, it makes it easy for us to determine whether this is an organisation we want to be aligned with

So, what is a B Corp?

Certified B Corporations, or B Corps, are companies verified by B Lab™ to meet high standards of social and environmental performance, transparency, and accountability.

Companies seeking certification are assessed for how they create value across five area of impact: governance; environment; customers; workers; and community. They must achieve an assessment of at least 80 points to qualify for certification. Our initial assessment was 20% above the minimum requirement with a score of 96.1, which made us feel like the little engine that could! To put this in context, the median score for ordinary businesses that complete the assessment is currently 50.9. Yet, there is still so much we can do to improve the way we do our greatest good, whilst continuing to grow our operations from its early stages.

Globally, there are over 8,500 B Corps and that number is growing daily. Almost 1000 B Corps are based in Australia, with more than half of them having their headquarters here. Some of the ones you might know include Aesop, Keep Cup, Attica Restaurant, Intrepid Travel, Blooms The Chemist, Jurlique, Clothing The Gaps, Who Gives A Crap, T2 and more. Ones we use the services of include Aussie Broadband, Checklist Legal, Good 4 Business, Pleasant State, Digital Storytellers and Envato. It is both an honour, and quite overwhelming, to now be considered in the company of such purpose-driven organisations.

Why is doing the greatest good important?

It’s clear that the current economic measurements work for the few and don’t help the majority of people, communities, or the planet. We can’t just keep being extractive and sucking the life and resources out of everything our businesses touch.

B Corporations aren’t just a certification to aspire to. They are a global movement of people and organisations who believe that business can be a force for good. This is, they can be profitable and sustainable, as well as helping the communities they operate in (and beyond) to flourish and thrive. We all know the saying that “a rising tide lifts all boats”. That is what the B Corp movement means to us and why we choose to be part of it.

Everyday, we try to do our greatest good and being a Certified B Corp is just one way of doing that. We aren’t doing it for the recognition. We are doing it because it helps us to be better, provides a beacon on which to focus how we show up, operate and continue to improve a little each day. It’s also what drives us to help others to do their greatest good.

Are we there yet?

B Lab, the not for profit that certifies B Corp’s, is raising the bar to align with the continually evolving environmental and other standards being introduced globally. So we can’t just stop now we have been certified. We need to keep improving just to keep up. Meanwhile, others that focus solely on profits will fall behind consumer’s and society’s evolving expectations if they keep doing the same old things.

Greatest Good launched two years ago. We are a baby B Corp, just a few months old. We don’t claim to do everything perfectly. It’s about showing up each day to live our values, making small ripples of change in the way we operate and help others, and keep trying to improve. It’s progress over perfection, but aiming for continuous improvement in what we do and how we do it. It’s a movement and an journey, not a destination.

We hope to connect with and learn from so many of the other inspiring B Corps who are keen to lift us up and help us do better. We will also seek them out and collaborate with them and/or showcase them on the Greatest Good ecosystem. So, if you are a B Corp – be warned, we are coming for you! Of course, feel free to reach out and make us feel less stalky about it!

May 2024