Accountability. Performance. Transparency. Three fundamental tenets of responsible business and, it turns out, three ideas that have framed the career of Junxion’s London MD, Adam Garfunkel.
Business, but better….
Adam was chatting with Tom Idle for issue 20 of the Better Business podcast and setting out the ideas behind the B Corporation movement. B Corps are companies that are committed to using business as a force for good – that is, for people and planet, as well as profit. Junxion is a B Corp and as Adam explains in the podcast, one of the first 100 in the UK where the B Corporation movement only launched in September of 2015.
So what does being a B Corp entail? Being accountable to stakeholders – not just shareholders. Meeting performance standards and aspiring to continuously improve that performance. And being transparent about the progress made.
In the case of companies that want to be certified B Corps, Adam explains in the podcast that this means changing the company’s articles of association so that decisions are made after considering their impact on all stakeholders, not just shareholders. Companies have to meet a minimum score of 80 our of 200 on measures covering governance, workers, community, environment and products. And B Corps need to be willing to disclose that performance and details of any pertinent related information.
Adam recalls his time as a campaigner for the NGO Friends of the Earth in the early-mid 90s and how those same ideas of corporate accountability, social and environmental performance and transparency underpinned much of his and the organisation’s campaigning. Adam has carried that commitment to those same principles through into his advisory work consulting with businesses on their CSR and sustainability programmes and communications.
And as for Junxion becoming a B Corps… Adam’s pride is obvious: “It feels like I’ve found a club in which I’ve always been a member.
Adam Garfunkel is an owner of Junxion, and the Managing Director of our London office.