B Corp Milestone: TOMbag is Now a B Corp!
Updated: May 28, 2022
TOMbag has just become a certified B Corp!
We are thrilled to announce that TOMbag has been certified as a B Corp! It’s an incredible honor and one of our biggest achievements to date to join the club of 410+ companies across Australia and Aotearoa New Zealand (and 4,900+ businesses worldwide!) holding the same certification.
What is a B Corp?
Now, in case you are wondering what B Corp stands for - B Corps are recognised as businesses that meet high standards of environmental and social performance, transparency, and accountability. Certified B Corporations, or B Corps, are a force for good meant to change economic systems for the better by benefiting people, communities, and the planet. B Corps choose long-term investments over quick gains, having the positive impact they create as a determinant of their overall success.
To become a B Corp, TOMbag underwent a rigorous and lengthy assessment process, where the impact of our business on all our stakeholders (including workers, suppliers, community, and, of course, the environment) was studied in detail.
Based on the assessment TOMbag achieved an overall B Impact Score of 106.4 points. It’s probably worth mentioning that the median score for ordinary businesses who complete the assessment is currently at 50.9 points, while achieving 80 points will allow you to qualify for B Corp certification.
TOMbag’s higher than average B Impact Score is a result of our resource conservation efforts where we are trying to avoid virgin materials where possible. All TOMbag products are made out of post-consumer waste using GRS certified recycled plastic that also can be fully upcycled at the end of their life.
As a business, we also scored high thanks to our commitment to give back to our community. If you are well familiar with our brand and products, you probably already know that we partner with One Tree Planted - a charity with an environmental focus that plants a tree in Australia on our behalf every time we sell a product. Starting from this year, we’ve decided to go even further by supporting another wonderful cause - the Great Barrier Reef Foundation - to whom we are going to contribute a percentage of our revenues on an annual basis to support the Great Barrier Reef restoration. Overall, as a business we are committed to donate at least 3% of our revenues to charities with a focus on environmental protection.
As holding a B Corp certificate represents a long-term commitment where every B Corp needs to undergo the recertification process every three years, we are committed to continue delivering high standards and improve in every aspect of our operations.
Thank you so much - our loyal customers and supporters - for sharing with us our journey thus far - none of our successes, including obtaining a B Corp status, wouldn’t be possible without you!