Being a B Corp: 5 ways we create impact
As a B Corp, Sharesies is committed to conducting business that balances profit and purpose. To celebrate B Corp month, Demi explains what Sharesies does to contribute to its B Corp accreditation.
B Corps are businesses that balance profit and purpose. To get certified as a B Corp, businesses need to meet high standards of verified social and environmental performance and transparency. Sharesies gained its B Corp accreditation in April 2019. We’re now in the process of reaccreditation, and are looking to improve on our initial accreditation score.
Our B Corp accreditation breaks down sustainable impact into five areas; governance, environment, workers, community, and customers. Sharesies scores particularly high in the workers section—in 2019, we were recognised in the Best for the World B Corp awards for how we treat our staff.
Here are some examples of cool projects that we’ve been working on since our last accreditation to build a more inclusive economy and create a positive impact for our stakeholders.
In our last B Corp assessment, we scored pretty low in the environment section because we didn’t have a lot of data. In 2021, we made this a top priority and became carbon neutral accredited through Ekos. This means that we measured our carbon impact and fully offset that impact by purchasing carbon credits in forestry projects in Aotearoa and the Pacific. Now that we have data on where our biggest impacts are, we’re able to start thinking about how we can improve those areas.
We introduced one day of volunteer leave per year for all staff at Sharesies. This works in the same way as any other type of leave, like annual leave or sick leave. Now, every year, staff at Sharesies get to spend a day volunteering for a cause that they care about. It’s a great reason to get whole teams out of the office (or our houses!) and together in our local communities.
While we’d always donated to causes, we didn’t have a specific policy or process in place for how staff could go about asking for support for a cause they felt strongly about. We’re now set up so that anyone in the business can put forward a donation recommendation, and we’re focusing on encouraging our people to do so!
When it comes to the investments that we offer on Sharesies, our B Corp assessment asks us to look at our screening practices, what ESG (environmental, social, governance) options we have available, and the education that we provide. In addition to offering the ability to search for responsible investments on Sharesies (go to Invest > Search > Filter > Responsible), we’re always exploring ways that we can help our investors understand these options.
Check out our series with Barry Coates from Mindful Money to learn more about sustainable investing.
Education and workshops
At Sharesies, our purpose is to create financial empowerment for everyone. One way that we do this is by supporting and educating investors throughout their investment journey. As well as launching a programme to introduce Sharesies into secondary schools, we’ve been running Investing 101 workshops with community groups across Aotearoa. If you’re interested in having people from our team chat to a community you’re a part of, get in touch at firstname.lastname@example.org.
Be part of the B Corp community
B Corp month is an annual global celebration of B Corps! This year, the theme was #behindtheb.
As part of the celebrations, our Co-Founder and 3EO Brooke spoke in a webinar about how Sharesies became a B Corp and why the accreditation means so much to us. Check out a recording of the talk on YouTube!
Ok, now for the legal bit
Investing involves risk. You aren’t guaranteed to make money, and you might lose the money you start with. We don’t provide personalised advice or recommendations. Any information we provide is general only and current at the time written. You should consider seeking independent legal, financial, taxation or other advice when considering whether an investment is appropriate for your objectives, financial situation or needs.