TORONTO–DUCA Financial Services Credit Union has become the first CU in Canada to become B-Corporation certified. The B-Corp Certification, which comes from B Lab, a not-for-profit, global organization that aims to redefine business success to include corporate social responsibility, takes into account social and environmental performance, accountability and transparency.
Earlier in 2015, DUCA became the first employer based in Toronto to guarantee all employees a living wage of at least $18.52 per hour, well above the minimum wage of $11.25.
The assessment includes benchmarking against dozens of established best practices regarding employee, community and environmental impact, and companies must achieve an overall B Impact Assessment score of 80 points to be eligible for certification. DUCA scored 92.8 points. The average business’s score is 51 points.
“B-Corps improve the quality of life in our communities by creating value of society, not just shareholders. With certification, DUCA is joining an elite community that’s driving real, tangible change that creates economic opportunity, solves environmental challenges and empowers individuals,” said Joyce Sou, director of B Lab Canada. “We welcome and congratulate the DUCA team on this achievement.”
There are currently 1,366 B-Corps in 41 countries across 121 industries. In Canada 140 organizations have been awarded B-Corporations certification.