Bank Australia

Certified B Corporation
Headquarters

Victoria, Australia

Certified Since

June 2020

Industry

Deposit bank - Developed Markets

Sector

Service with Minor Environmental Footprint

Operates In

Australia

Bank Australia is the bank for people who believe in a fair and just world. We work with our customers to use their money as a force for good. Bank Australia is the first customer owned bank in Australia and has been operating since 1957. This means they answer to their customers, not external shareholders. Bank Australia provides everyday banking services and loans to individuals as well as loans to purpose-driven companies and organisations to help them have a positive impact on people and the planet. The bank’s lending is guided by its Responsible Banking Policy, which commits it to never lend to industries that do harm, like fossil fuels, live animal exports or arms/weapons. Instead, they seek to lend to those having a positive impact, such as individual customers, community renewable energy, and community and disability housing. The Bank Australia Impact Fund donates 4% of after tax profits to projects supporting people and the planet, including their annual Community Customer Grants. Bank Australia is committed to action on climate change, including their world-first Conservation Reserve, being carbon neutral since 2011 and running on 100% renewable electricity since 2019. Bank Australia is a member of the Global Alliance for Banking on Values.

Overall B Impact Score

Based on the B Impact assessment, Bank Australia earned an overall score of 104.2. The median score for ordinary businesses who complete the assessment is currently 50.9.
104.2
104.2 Overall B Impact Score
80 Qualifies for B Corp Certification
50.9 Median Score for Ordinary Businesses

Governance 12.6

The Governance Impact Area evaluates a company's overall mission, engagement around its social and environmental impact, ethics, and transparency. This section also evaluates the ability of a company to protect their mission and formally consider stakeholders in decision making through their corporate structure (e.g. benefit corporation) or corporate governing documents.

Mission & Engagement2.6
Ethics & Transparency7.5
+ Mission Locked2.5

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.


Workers 27.6

The Workers Impact Area evaluates a company's contributions to its employees' financial security, health and safety, wellness, career development, as well as overall engagement and satisfaction. In addition, this section recognizes business models designed to benefit workers, such as companies that are at least 40% owned by non-executive employees and those that have workforce development programs to support individuals with barriers to employment.

Financial Security4.3
Health, Wellness, & Safety7.4
Career Development5.3
Engagement & Satisfaction6.4
+ Workforce Development0.6

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.


Community 26.7

The Community Impact Area evaluates a company's engagement with and impact on the communities in which it operates, hires from, and sources from. Topics include diversity, equity, and inclusion; economic impact; civic engagement; charitable giving; and supply chain management. In addition, this section recognizes business models that are designed to address specific community-oriented problems, such as poverty alleviation through fair trade sourcing or distribution via microenterprises, producer cooperative models, locally focused economic development, and formal charitable giving commitments.

Diversity, Equity, & Inclusion5.9
Economic Impact8.6
Civic Engagement & Giving7.4
Supply Chain Management1.5

Environment 14.7

The Environment Impact Area evaluates a company's overall environmental management practices as well as its impact on the air, climate, water, land, and biodiversity. This includes the direct impact of a company's operations and, when applicable, its supply chain and distribution channels. This section also recognizes companies with environmentally innovative production processes and those that sell products or services that have a positive environmental impact. Some examples might include products and services that create renewable energy, reduce consumption or waste, conserve land or wildlife, provide less toxic alternatives to the market, or educate people about environmental problems.

Environmental Management3.5
Air & Climate4.9
Water0.5
Land & Life2.7
+ Green Lending1.8

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.


Customers 22.1

The Customers Impact Area evaluates a company's stewardship of its customers through the quality of its products and services, ethical marketing, data privacy and security, and feedback channels. In addition, this section recognizes products or services that are designed to address a particular social problem for or through its customers, such as health or educational products, arts and media products, serving underserved customers or clients, and services that improve the social impact of other businesses or organizations.

Customer Stewardship3.4
+ Portfolio Reporting2.2
+ Targeted for Investment4
+ Leadership & Outreach1.6
+ Investment Criteria1.4
+ Portfolio Management6.6
+ Serving in Need Populations1.8

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.



Previous Overall B Impact Scores

2020 Overall B Impact Score104.2

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