Finance's crucial role in B Corp success

Business people sitting around a table discussing strategy with papers and laptops.

In the landscape of modern businesses, the finance function has transitioned from a mere support role to a vital driver of success. It’s no longer confined to legal compliance and historical data analysis. Instead, it embraces a forward-looking, innovative approach that extends to Environmental, Social, and Governance (ESG) management, strategic planning, and sustainability objectives. In this blog, we delve into what this means for us at Energise, our B Corp status, and the wider scope of business.

Energise’s approach and evolution towards B Corp status

At Energise, our compact finance team takes immense pride in achieving B Corp status. Being a Certified B Corp is a designation that means that a business is meeting high standards of verified performance, accountability, and transparency across a range of areas within our operation under the categories of Governance, Workers, Community and Environment. Our journey involved fundamental steps and ongoing plans to enhance operations, catalyse improvements, and accomplish sustainability aims.

Here are a few key areas of focus that we have put into practice to achieve this:
 
1. Collaboration as the keystone

We believe that we achieve more together, and  collective impact often exceeds isolated efforts. Establishing an internal sustainability committee facilitates collaboration, uniting diverse perspectives, experiences, and communication styles. A finance presence within this committee empowers us to drive change effectively, amplifying our overall impact.

2. Revamping the supply chain

Analysing our supply chain was pivotal in comprehending procurement patterns. Scrutinising supplier ownership, policies, and presence helped us prioritise local, independent businesses. Our choices reflect a commitment to environmental responsibility, guiding our engagement with suppliers to align with sustainable values.

3. Leveraging modern systems for change

Modern cloud-based systems facilitate adaptability. With an accountant’s penchant for reporting, we extend financial transparency beyond senior stakeholders. Sharing our financial performance with all employees fosters a sense of collective responsibility and alignment with our values.

4. Aiming for perfection through continuous improvement

Acknowledging imperfection fuels growth. As a rapidly growing entity, we continually enhance our reporting practices, weaving ESG reporting into financial performance evaluation. These aspects are inseparable in our fight against climate change, wherein long-term impact eclipses short-term profits.

5. B Corp certification: accountability and guidance

Our B Corp certification mandates accountability. It shapes our sustainability journey, even influencing our employee remuneration structure. This holistic engagement reflects our commitment to shared goals, steering away from the burden of sole responsibility.

In the tapestry of modern finance, we recognise that driving impact transcends numbers; it extends to shaping a better world for generations ahead.

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Written By    Kamruj Jaman

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