Why we need change
Benefit Company STATUS is a key enabler of impact-driven business
Companies around the world – from small and medium enterprises to big multinationals – are rethinking how they do business.
In 2018, Unilever’s 28 Sustainable Living Brands – those taking action to support positive change for people and the planet – grew 69% faster than the rest of its business. That's up from 46% in 2017. They also delivered 75% of Unilever’s overall growth.
Unilever is one example of a big corporation moving towards embedding purpose and sustainability in its business. It’s a multinational company with 155,000 employees and 400+ brands. In 2018, the company made €51 billion in revenue.
Unilever’s subsidiaries include Certified B Corps like Ben & Jerry’s and companies incorporated as Benefit Corporations in the USA.
IT can create opportunities for Australia
Job growth: USA Benefit Companies are 1.4 times more likely than other businesses to have 25%+ job growth rate.
Local economic development: USA Benefit Companies are 1.2 times more likely than other businesses to have 30%+ of spending on local suppliers.
Investment: Sustainable investment that consider ESG factors totalled US$30.7 trillion across Europe, USA, Canada, Japan, and Australia and New Zealand in 2018, a 34% increase in two years.
it gives company directors and owners confidence and creates
opportunities for businesses
Directors and owners of impact-driven companies want confidence to consider stakeholder interests that relate to their business. Enabling these companies to opt-in to a model that recognises their pursuits provides them with more opportunities to grow their business.
Consumer loyalty: 66% of consumers say they are willing to pay more for sustainable brands.
Talent attraction: 67% of employees expect their employer to have a greater purpose and meaningful societal impact.
Business growth: Unilever’s 28 Sustainable Living Brands grew 69% faster than the rest of its business.
CEO & president
“The fact that Patagonia remains a profitable business is testament to the very idea the Benefit Corporation movement promotes – that is, transforming the conventional business model from one that places profits above all else to another where business leaders pursue a long-term outlook that also commits to creating benefit for the environment, workers, customers and communities is entirely possible.”