Analysis of B-Corps by MoneyTransfers.com has found that the Food & Beverage industry is the most sustainable globally.
Internationally, the Food and Beverage industry was found to have 495 B-Corps out of a total 3,847 worldwide, with Australia providing 18. The Food and Beverage sector contains 200 more B-Corps than the next closest industry, IT Software and Services.
B-Corp status, granted when a business is assessed as exhibiting ‘high social and environmental performance’, is a key indication of a company’s sustainability.
Once certified, B-Corps have a legal requirement to consider the impact of their decisions on all stakeholders – including communities, workers and the environment – rather than strictly their own shareholders.
B-Corp status is awarded by B-Lab, a non-profit organisation that assesses the workings of applicant businesses over a process lasting as long as eight months. Existing B-Corps must renew their status every three years.
Globally, Australia is punching above its weight, coming in at number four in the ranking of nations with the most B-Corps, after the more populous Canada, UK and USA, and before Brazil. Of these four nations, the Food and Beverage industry provided the most B-Corps in Canada, the USA and the UK.
In total, Australian B-Corps numbered 279, with ‘Marketing and Communications’ the largest represented sector. Notable B-Corps in the Australian drinks industry include Team Unico, Stone & Wood and Four Pines. Internationally, Remy Cointreau’s Bruichladdich Whisky Distillery is a certified B-Corp, as is Scottish beer titan Brewdog.
Read the full report from MoneyTransfers here.