Home Fintech MONEYME turns into fifth ASX-listed monetary establishment to attain B Company certification

MONEYME turns into fifth ASX-listed monetary establishment to attain B Company certification

MONEYME turns into fifth ASX-listed monetary establishment to attain B Company certification


Digital lender and non-bank challenger MONEYME has turn into the fifth ASX-listed finance supplier in Australia to turn into a Licensed B Company, because it doubles down on its sustainability technique by aligning to an goal, measurable, verifiable, and confirmed framework.

In response to B Lab, the non revenue organisation that governs B Corp Certification, there’s a rapidly-growing motion of ~470 B Corp Licensed organisations in Australia, of which solely 10 are ASX-listed.

Of the ASX-listed corporations, simply 5 are monetary establishments, together with Australian Moral, Liberty Monetary, BankVic, SEFA, and now MONEYME, nevertheless B Lab reviews that curiosity is rising amongst monetary companies corporations.

MONEYME turned B Corp Licensed after a rigorous 12-month analysis and verification course of, notably reaching a licensed B Influence EvaluationTM (BIA) rating of 91.2 – nicely above the 80-point certification threshold.

Different well-known Australian B Corps embrace Aesop, Koala and KMD Manufacturers (Kathmandu and Rip Curl).

MONEYME first adopted the B Corp framework and BIA to tell its sustainability technique in FY22 as a method to amplify its sustainability efforts and provides the organisation and its stakeholders confidence in its method and efficiency.

The B Corp framework helps to make sure that MONEYME invests time and sources in the direction of sustainability initiatives that create worth and keep away from greenwashing, on account of necessities for each exterior verification and public disclosure.

Clayton Howes, CEO & Managing Director of MONEYME stated, “In November final yr, we modified our firm structure to mirror our dedication to optimistic affect. MONEYME’s constitutional objective just isn’t solely to ship returns to shareholders, but additionally to have an general optimistic affect on society and the atmosphere. Our environmental and social affect is not a second thought, or a pleasant to have, for our enterprise. It’s a requirement.

“The overwhelming help we acquired from our shareholders to do that gave us confidence within the significance of driving change from the highest.

“Reaching B Corp Certification is a important factor of our wholehearted dedication to society and the atmosphere. B Corps are companies that meet excessive requirements of social and environmental efficiency, accountability, and transparency. They measure their success based mostly on the optimistic affect they create.

“Our hope is that, by means of main by instance, we’ll encourage others in our business to hitch the motion and prioritise sustainability and optimistic affect.”

Previous to reaching B Corp Certification, in November 2022, MONEYME cemented its dedication to environmental, social, and governance (ESG) values by including two clauses to its firm structure which bind its Administrators to contemplate ESG stakeholders in enterprise choices. The modification requires shareholder approval for which MONEYME acquired >98% votes in favour.

Different current sustainability efforts embrace publishing a Replicate Reconciliation Motion Plan in March 2023, reaching a Board variety goal of >30 % girls in December 2022, and transitioning to one hundred pc renewable power in its Australian places of work in FY23.

MONEYME’s Autopay automotive mortgage carbon offset initiative has additionally offset 5,912 tonnes of CO2 emissions since launching in July 2021 (equal to driving over 16.5 million kilometres), whereas its electrical car (EV) mortgage low cost is designed to help Australia’s transition to a low carbon economic system.

In July 2023, MONEYME dedicated to measuring and disclosing the greenhouse gasoline emissions related to its Autopay loans by turning into the sixth organisation in Australia to be an official signatory of the Partnership for Carbon Accounting Financials (PCAF), becoming a member of Commonwealth Financial institution, Suncorp, Nice Southern Financial institution, IFM Buyers, and Metrics Credit score Companions.

Disclosure: On the time of writing, Australian FinTech Pty Ltd is a shareholder of MONEYME Restricted.



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