In addition to becoming a Certified B Corporation, we continue to make progress towards our purpose of being a transparent and authentic investment organisation by signing the Banking and Finance Oath on Friday 8 June 2018.
Signing the Banking Oath represents our intention to "be a positive example of how a financial services business should operate – illustrating that we can all make a difference in our industry."
While many consumers look to Fair Trade certification to make decisions about everyday consumables, B Corporation is a global accreditation that helps identify business and organisations with sustainable and ethical practices. B Corps are companies certified by the non-profit B Lab as meeting rigorous standards of social and environmental performance, accountability and transparency.
CEO Mathew Browning said he is incredibly proud of the opportunity to work alongside like-minded Australian companies who share a similar vision in contributing to positive change.
"We are one of a select few ethical financial and investment institutions in Australia to become a certified B Corporation. We're now in the company of a community of leading change makers and companies with a unifying goal of making a difference."
Mr Browning added that "B Corporations are committed to upholding the highest standards of social and environmental performance, public transparency, legal accountability and harnessing the power of markets to address global problems. This certification aligns perfectly with our mission to serve both society and our investors as we contribute to community wellbeing."
Since 1995, with the support of investors, UCA Funds Management has given $58 million to initiatives and programs that improve community wellbeing and social justice. In 2017 alone, we provided $3.9 million of our operating surplus to Victorian and Tasmanian community services supporting disability inclusion and prison chaplaincy programs, and advocacy and reconciliation services with indigenous people. This is set to increase over the next 5 years.
Mr Browning said that the certification also provides the opportunity for new collaborations with like-minded businesses to work together in initiatives beyond the bottom line that benefit the community.
"We may come from different industries, but we are all inspired by the same end goal. Together we are helping to shape socially just and sustainable communities for prosperity beyond the dollar value."
Head of Community Building at B Lab Australia & New Zealand, Mindy Leow said there was evidence that Australians are becoming more discerning in their selection of financial institutions and B Corp certification makes them attractive to consumers.
"B Corporations are held to the highest standards of accountability, transparency and ethical practice. B Corps embody the way business should be done, creating extraordinary positive impact as businesses and looking after all of their stakeholders. As trust in businesses in Australia continues to decline, consumers will seek out B Corp certification to differentiate the doers from the pretenders", said Ms Leow as she welcomed UCA Funds Management into the Certified B Corp community.
The Banking and Finance Oath is a commitment to influence positive change in banking and finance industry. All UCA Funds Management staff took the oath on 8 June, making us 100% committed as an organisation.
"As ethical investors taking the Banking and Finance Oath is a natural progression in our vision for better investments and a better world."
"With our entire team taking the oath, we are delighted to be standing together helping to create a sustainable and just future, speaking out against wrongdoing and being a leader in our industry as it strives to meet community needs and expectations."