B Corporations (or B Corps) are for profit companies that balance both profit and purpose. While we all know what profit is, B Corps also incorporate the purpose of creating positive impacts across other important, but sometimes neglected, aspects of their businesses.
Why did we become a B Corp?
B Corp certification acknowledges that a company has met a whole range of standards in the social and environmental areas of their business. NAOS wanted to acknowledge that running a business meant a responsibility to not just the financial stakeholders but also to the less tangible responsibilities of being a corporate citizen of the world.
Becoming a B Corp required reflection on what we currently do in the day-to-day operation of our business and how to make it better.
Looking at our activities in a holistic way, made us understand that we needed to change and finesse some of our current practices. Putting into place and documenting our processes, forward planning and quantifying targets helped define how to achieve this going forward.
Having all staff on board greatly assisted us achieving this certification.
We now hold the wellbeing of our people and stakeholders and the health of the planet with just as much importance as the governance and success of our business.
We’re proud to say that we are now part of this global movement and support other companies that have already done so before us – the B Corp community - who collectively share the same goals.
At the time of writing, there were just over 600 certified B Corps in the Australia/New Zealand community, varying in size and industry. NAOS is one of less than 30 companies in the investment industry and one of only a handful of equity investment managers, who have gained the B Corp certification.
How do you become a B Corp?
Budding B Corps are rigorously assessed and verified to meet high standards of performance, accountability and transparency in social and environmental areas. Certification is provided by B Lab, a non-profit organisation who measure both positive impacts and potential negative risks.
The assessment and verification process covers impact areas such as Governance, Workers, Community, Environment and Customers. B Corps are also focused on continuous improvement.
Click Here for more information about our B Corp certification.
Important Information: This material has been prepared by NAOS Asset Management Limited (ABN 23 107 624 126, AFSL 273529 and is provided for general information purposes only and must not be construed as investment advice. It does not take into account the investment objectives, financial situation or needs of any particular investor. Before making an investment decision, investors should consider obtaining professional investment advice that is tailored to their specific circumstances. This material may include data, research and other information from third party sources. NAOS makes no guarantee that such information is accurate, complete or timely and does not provide any warranties regarding results obtained from its use. Statements contained in this material that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NAOS. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon.