The best thing we're exploring is a better way to do business. In 2019 Kathmandu officially became a part of the global B Corp movement for a more sustainable and inclusive economy.
What is a Certified B Corp?
Certified B Corporations (B Corps) are part of an initiative from B Lab, a non-profit that serves a global movement of people using profits and growth as a means to a greater end: positive impacts for their employees, economies, communities, and the environment.
The B Corp community works toward reduced inequality, lower levels of poverty, a healthier environment, stronger communities and the creation of high-quality jobs with dignity and purpose.
At the time of its announcement, Kathmandu has become the largest Australiasian retailer to achieve B Corp certification and is one of the largest outdoor apparel and gear companies globally to become a part of the movement. So far, more than 3,000 companies around the globe have become Certified B Corps after completing the stringent certification process.
What is the certification process?
Certified B Corporations are required to:
1. Consider the impact of their decisions on all stakeholders.
2. Agree to make theirB Impact Report transparent on bcorporation.com.au(measuring a company's performance in five impact areas: governance, workers, customers, communities, and the environment).
3. Achieve a minimum verified score on the B Impact Assessment.
4. Recertify every two years. This requires them to satisfy the ever-changing standards and expectations of the certification each time.
5. Complete a comprehensive questionnaire, including substantiating evidence, followed up with an interview and reviews by B Corp™, each with stringent guidelines.
How does this help Kathmandu customers?
Fast becoming a global signpost for leadership in environmental and social impact, that little encircled 'B' is a way for customers to instantly recognise that the organisations they buy from are working according to an entirely new way of doing business.
B Corporation certification helps business act as a force for good, while it also helps investors select organisations that align with their values. For those adventurers and travellers out there, this stringent accreditation means they can trust that we meet the highest standards for positive social and environmental impact.
And that's just it. This isn't an end goal for Kathmandu. The steps we have taken to get to this point make up the first act in this story. Now we have an international movement supporting us. We want to play our part in creating an inclusive and sustainable economy where purpose-driven companies create benefits for all, not just for shareholders.