Danone Oceania achieving B Corp certification comes almost 50 years after then CEO Antoine Riboud’s landmark speech on how a company must being a force for good in society as well as fulfilling its economic obligations.
Riboud’s speech marked the birth of what Danone calls its ‘dual commitment’, encompassing the creation of economic value (or returns for shareholders) as well as social value.
Danone Oceania’s B Corp certification is part of the company’s broader global commitment for all its business entities to be certified by 2025. As it stands, more than 60 per cent of the company’s global sales are already covered.
B Corp is a global business movement committed to social and environmental performance, accountability, and transparency.
B Lab Global, the not-for-profit organisation behind B Corp certification, was founded in the US in 2006 with the idea that a different kind of economy was not only possible but necessary, and that business could lead the way towards a new, stakeholder-driven model.
Certification is only awarded to companies that can demonstrate verifiable positive impact through policies and practices for employees, communities, customers, and the environment.
Danone Oceania head of corporate affairs Scott Pettet said, “Danone’s commitment to social progress has been a part of our DNA for decades and aligns with B Lab’s mission to transform business to be a force for good. We also know that increasingly, employees, customers, consumers, and broader society expect a much stronger stance from businesses and brands on important social and environmental issues.”
There are more than 400 businesses in Australia and New Zealand and around 4,700 globally that are official B Corp businesses.
Pettet said the certification made Danone the largest food and beverage company in ANZ to achieve B Corp status.
“We’re thrilled to have achieved certification across our wholly owned businesses in Australia and New Zealand.
“The journey to certification isn’t an easy one and nor should it be. B Lab has rightly set the bar very high, which makes the achievement all the more rewarding for every Danone employee in Australia and New Zealand,” Pettet said.
B Lab co-founder and co-CEO Bart Houlahan said Danone had been a partner with the organisation for many years.
“Globally the Danone group has been a partner with us for many years, using its profile to add credibility and accelerate the growth of this movement. The success at Danone Oceania is part of this story, and I look forward to continuing to work with Danone globally as we work to create an inclusive, equitable and regenerative economy,” Houlahan said.
B Lab Australia & Aotearoa New Zealand CEO Andrew Davies said, “Danone’s certification also shows it is possible for big business to have a positive impact, to hold themselves accountable, and to grow whilst focusing on the stakeholders it impacts in all aspects of its value chain.”
In Australia and New Zealand, Danone sells a broad range of specialised nutrition products to support healthy growth and development during the first 1000 days, as well as products that address some of the world’s biggest health challenges including faltering growth, food allergy and rare metabolic diseases, age-related conditions and chronic disease, frailty, cancer, stroke, and early Alzheimer’s disease.
Danone’s Oceania B Corp scorecard is publicly available via B Lab’s website here.
