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Non-bank lender Liberty has been awarded a B Corporation Certification (B Corp), and is officially recognised as a business that values both profit and purpose equally.
The B Corp certification is awarded to companies that meet specific standards of verified social and environmental performance, public transparency, and legal accountability, to balance profit and purpose.
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According to Liberty, the B Corp vision is to create a community of for-profit companies committed to redefining success in business.
There are currently more than 3,000 B Corps across the globe, all of which have pledged to uphold the values of the certification.
Additionally, B Corps agree to have their performance measured across business areas of governance, workers, community, environment and customers.
Liberty CEO James Boyle said that working towards the goal of helping customers and being a profitable company didn’t need to be at the expense of ethics or sustainability.
“Committing to B Corp status felt like a natural next step to really live our company’s values which resonate with the Liberty community,” he said.
“We have always supported the important goal of improving financial inclusion among Australians and tried to be mindful of the way our business actions have broader impact.
“We are dedicated to being a force for good outcomes within the Australian finance industry.”
[Related: Liberty contributes to bushfire relief]
