Proud to be a B Corp ™
Businesses that chase financial returns above all else are accelerating and causing significant environmental and social harm such as climate change, ecosystem degradation, species loss and inequality. Certified B Corporations™ are for-profit companies that work hard to defy this by using the power of business to build a more inclusive and sustainable environment and economy.
Synlait’s commitment to elevating people and planet to the same level as profit was recognised in June 2020 when we joined the global B Corp™ community. As a B Corp™ we consider the impact of our decisions on our workers, customers, suppliers, community, and the environment. Our main purpose at Synlait is ‘Doing Milk Differently for a Healthier World’, becoming B Corp™ Certified aligns with this.
We’ve joined other global and New Zealand-based B Corporations™ including Ecostore, Kathmandu, Fix & Fogg, Patagonia, and Ben & Jerry’s. Collectively we’re working towards redefining what a ‘successful’ business looks like; and building more inclusive and sustainable economies.
At Synlait we strive to meet the highest social and environmental standards, while supporting public transparency and legal accountability. Examples of this include:
- Our Mātua (Parental) leave policy. This includes 26 weeks full pay for the primary carer during maternity leave and a childcare subsidy from return to work to three years
- In the past three years, more than 80% of our supplier spend (excluding milk) was with New Zealand registered companies. We’re proud to support our local economy.
- We created a sustainable packaging database and calculated that in FY20, 99% of the packaging sold by Synlait, by weight, was either reusable or recyclable.
- Being transparent on our social and environmental impacts enabled us to sign the first sustainability-linked loan in New Zealand with ANZ and BNZ
- There are 14 electric car charging stations in Dunsandel and Pokeno, enabling us to charge our cars for free
Being a B Corp™ keeps us accountable and gives us a set of high standards to maintain and improve on. The shared values and aspirations of the B Corp™ community are embedded in the B Corp™ Declaration of Interdependence, which all B Corps™ sign. For us the certification journey was also about understanding exactly what we were doing well and where we can make meaningful improvements. Even though we’re certified, we still have a lot of work to do, and we’re excited about that.
The Synlait B Impact Report is published for anyone to read right here.