Lion becomes Certified B Corporation
Lion has announced it has become a Certified B Corporation (B Corp).
While individual Lion brands like Australian brewery Stone & Wood have previously been B Corp certified, this new achievement extends to Lion’s entire business.
Certified B Corporations are companies verified by B Lab for achieving high standards of environmental and social performance, accountability and transparency.
“We are delighted to be recognised as a Certified B Corporation across Lion as a whole,” says Lion Group CEO, Sam Fischer. “Being a force for good has always been part of Lion’s DNA, but B Corp Certification has given us a framework to go even further. B Corp Certification provides independent verification of Lion’s commitment to measuring success not just in profit, but in the positive impact we create together with our partners.”
As part of the process, Lion had to meet standards across five impact areas: governance, workers, community, environment, and customers.
The certification process required Lion to score a minimum of 80 points on the B Impact Assessment. Lion scored 80.6, which is above the 50.9 median score for ordinary businesses. Lion has also amended its constitution to codify its directors’ duties to consider the long-term impacts of decisions on employees, suppliers, customers, communities, and the environment.
B Lab Australia & Aotearoa New Zealand CEO, Andrew Davies said: “We’re thrilled to welcome Lion to the B Corp community. Stone & Wood was one of the earliest businesses in the region to become B Corp Certified, and it’s exciting to see the broader Lion business take this next step.
“Our Theory of Change has always been grounded in the idea that early adopters would pave the way for larger, more complex businesses to follow, and Lion’s certification is that theory in action.
“When a large business like Lion uses B Corp Certification to measure and improve its impact, it sends a powerful message to the broader business community that it is possible to prioritise people and planet, alongside profit.”
W: Lion’s B Impact Assessment score and report are available at bcorporation.net