“That impact is core to their business and has been built into the heart of their business model. It’s not an add-on, it’s not marketing, it’s everything about who they are.”
A growing wave of companies are moving beyond traditional CSR and instead embedding purpose into their DNA . In this article, we explore how three Certified B Corporations™ – Intrepid Travel, Bank Australia, and TalentWeb – have built impact into the core of their business models. These businesses show that doing good is not a side project or PR exercise, but central to who they are – driving strategy, inspiring innovation, and delivering real benefits for customers, employees and communities. We’ll look at each company’s impact journey: how they define their impact areas, how they measure success, why it matters to their stakeholders, and what it means for their future. You’ll also find insights from a recent panel discussion with Geoff Manchester (Intrepid Travel), Tanaya Joshi (Bank Australia), and Natalia Sawran-Smith (TalentWeb) on how their impact business models (IBM) emerged and continue to evolve. Along the way, we’ll highlight the broader trend of businesses moving beyond CSR toward embedded, measurable models of doing good, and share practical pathways for purpose-led leaders to strengthen their own impact business models.
Travel as a Force for Good: Intrepid Travel’s Impact Model
Intrepid Travel demonstrates how tourism can be a force for good – from protecting wildlife and reducing carbon emissions to supporting local communities . The company’s focus on sustainable, experience-rich travel has made impact a core part of its strategy.
Intrepid Travel is a global tour operator that has long believed in the power of travel to drive positive change. “Done right, we believe that travel can be a force for good,” the company proclaims . Since its beginning, Intrepid has given back to the places it visits and run trips in a way that respects local people and the environment. As co-founder Geoff Manchester explains, Intrepid’s trips are about more than sightseeing: “They’re about connecting to the places we go, the people we meet along the way and the communities at the heart of every Intrepid experience. That’s where we try to make an impact.” In practice, this means Intrepid deliberately designs experiences that contribute to both “Wildlife and places” – e.g. following strict animal welfare guidelines and cutting emissions – and “People and communities” – e.g. using local guides, homestays, and community-based tourism to keep economic benefits local .
Impact is fully integrated into Intrepid’s business model, not treated as charity after profit. Geoff Manchester notes that unlike companies which earn revenue then donate a share, Intrepid set out to “solve environmental or social problems through its business operations”, a defining feature of an impact business model . For example, Intrepid developed three impact focus areas within its tours: Health and Wellbeing, Environmental Education, and Cultural Preservation. It offers active, outdoor-rich itineraries (think walking, cycling, kayaking) that improve travelers’ physical and mental health . It educates both its customers and local suppliers on environmental issues like reducing waste . And it ensures trips respect and celebrate local cultures – helping safeguard cultural heritage and community identity . By 2024, these impact-focused activities constituted well over the 10% of revenue required for B Corp™ recognition as formal “Impact Business Models” , meaning impact isn’t a niche offering for Intrepid, but a significant driver of its revenue and value.
Crucially, Intrepid measures and reports on its impact, treating it with the same rigor as financial goals. The company produces a public annual report tracking social and environmental performance . It was the first travel company to set science-based carbon targets aligned with a 1.5°C future and has been carbon neutral since 2010 . Intrepid’s B Corp™ score has climbed from 82.7 in 2018 to 102.5 in 2024 – putting it among the top 20% of B Corps worldwide and reflecting improvements in areas like volunteering, climate action and supply chain ethics . Geoff Manchester shared that Intrepid treats maintaining and improving its B Corp™ certification as “a major company objective” – even tying management incentives to it . By making impact targets a core part of staff KPIs, Intrepid ensures everyone in the company stays focused on continual improvement. “Basically, we’re getting better at being better,” their team says proudly of the journey so far .
The benefits of this approach are tangible. Intrepid’s commitment to purpose has become a magnet for talent: the company now gets an average of 65 applicants for every job opening, as mission-driven people seek to work there . Internally, employees have a strong voice in shaping the business and feel united by a higher mission. Externally, Intrepid is building deep trust with travelers who want more meaningful, responsible adventures – as well as with partners and even governments leading sustainable tourism initiatives. In short, by embedding purpose, Intrepid has strengthened its brand, its culture, and its bottom line. As Geoff puts it, “we don’t do all these things just to become a B Corp™… there needs to be a business case – and these benefits really do exist.” Indeed, Intrepid’s growth and industry leadership in sustainable travel show that purpose and profit can thrive together.
What would this look like in your organisation? Discover how to turn purpose into practice.
Banking on Values: How Bank Australia Puts Purpose into Practice
Bank Australia offers a powerful example of reimagining an entire industry for impact. As a 100% customer-owned bank, Bank Australia was practically built for purpose: “We share a belief with our customers that money can be used to create a world where people and the planet thrive.” This vision is more than a slogan – it fundamentally guides what the bank does (and does not) do with customers’ money. “Every bank has an impact in the world. That impact can be positive, negative, or somewhere in between,” Bank Australia observes. “As a customer-owned bank, [we] look to [our] customers to guide the type of things we fund and, ultimately, what impact we create in the world.”
In practice, Bank Australia uses the core business of banking as a force for good. The bank pioneered a “clean money” approach: it refuses to finance harmful industries like fossil fuels, weapons, gambling or tobacco. Instead, it actively directs capital to projects that create positive outcomes in areas its customers care about. Through regular surveys and votes, Bank Australia’s customers literally help decide the bank’s strategic priorities. “We run a customer survey every couple of years and ask our customers to vote on what issues matter most to them. And then decide our strategies and direction based on that,” explains Tanaya Joshi, the bank’s Sustainability Lead. The result is a set of four impact focus areas – “born directly from our customers’ values” – which anchor Bank Australia’s lending and investment: Climate action, Nature and biodiversity, First Nations recognition and respect, and Affordable & accessible housing. The bank commits to accelerating progress in each of these areas, from funding renewable energy and conservation to supporting Indigenous community initiatives and green social housing.
This embedded impact model is reinforced by the bank’s governance and products. With its customers’ blessing, Bank Australia amended its Constitution to legally require considering all stakeholders (customers, communities, the environment) in decisions, not just financial shareholders. This change “adds soul” to the bank’s foundation, ensuring purpose is locked into its governance for the long term. Internally, the bank invests in its people through programs for employees from disadvantaged backgrounds and progressive policies like equal paid parental leave. Externally, it develops innovative products like a Clean Energy Home Loan and an Impact Term Deposit that channels deposits into loans with social and environmental benefits. When customers choose these products, they receive transparent reports on the positive outcomes their money is supporting. Even in traditional services like mortgage lending, Bank Australia’s customer support team goes above and beyond to help anyone facing hardship, exemplifying an ethic of empathy over profit. In short, the bank’s entire portfolio and operations are aligned to its mission of people and planet thriving.
And does it sacrifice performance? Not at all – in fact, it enhances it. Tanaya Joshi notes that because every customer is an owner, “we are only beholden to answering the questions our customers are asking and working in the areas they want us to”. Luckily, customers want impact: “86% of our customers want us to act on climate change,” she says. Serving this mandate has differentiated Bank Australia in a competitive industry. It was one of the first banks in the world to switch to 100% renewable electricity and to establish a conservation reserve to offset its environmental impact. These moves, once “ahead of the mainstream,” have attracted passionate customer loyalty. The bank’s ethical stance also helped it certify as a B Corp™ in 2020 with a high B Impact score (116.2), and it continually uses the B Corp framework as “a roadmap for all the work we have yet to do”, in the words of its Managing Director. Importantly, Bank Australia’s purpose-led decisions are made with a long-term business case in mind. For example, when it decided to cease loans for new combustion-engine cars to accelerate EV uptake, the board accepted a short-term loss of some auto lending revenue “as part of what we need to do to transition the economy.” Such principled choices can invite public questions, but the bank engages transparently to bring stakeholders along. Ultimately, being accountable to values instead of quarterly profits gives Bank Australia the freedom to lead – and its growth (becoming Australia’s first customer-owned bank to achieve B Corp™ and attracting ~$8 billion in assets) suggests that customers are enthusiastically voting with their money for impact. It’s a shining case of “banking for good” in action, turning an industry often seen as profit-driven into a community-guided engine for positive change.
Curious how to apply this in your own organisation? Explore six practical steps to build your impact business model.
Purpose-First Recruitment: TalentWeb’s Twofold Impact Mission
Recruitment might not be the first field you think of for social impact, but TalentWeb is determined to change that perception. As New South Wales’ first B Corp™ certified recruitment agency, TalentWeb is “committed to inclusivity, sustainability, and positive impact for people and the planet.” Founded in 2010, the firm set out to prove that hiring can be about more than transactions – it can build a better world. “We believe really, truly that recruitment can and should contribute to a better world, not just a better bottom line,” says Natalia Sawran-Smith of TalentWeb . This ethos has driven TalentWeb to embed impact throughout its business model, focusing on two key areas: governance and customers.
First, TalentWeb embedded purpose into its governance and leadership. It legally amended its company constitution to ensure all stakeholder interests – candidates, clients, employees, communities, and the environment – are considered in decision-making . This formal commitment means leadership must “balance purpose with profit” and be accountable to more than just shareholders . In practice, it acts as a guiding north star when setting strategy or policies, helping TalentWeb stay true to its values even when business pressures mount. This governance IBM mirrors what larger B Corps™ like Bank Australia have done, proving that even a mid-sized firm can lock in its mission at the highest level.
Second, and most distinctively, TalentWeb reinvented its customer value proposition to advance impact. Its mantra is to prioritize purpose-led businesses and people. The company actively seeks out clients that are B Corps™, social enterprises, nonprofits, or otherwise mission-driven, and helps them find talent who share their values . Conversely, TalentWeb guides job seekers who are looking for meaningful, values-aligned work – even if it means referring them to opportunities outside TalentWeb’s immediate placements . This is a radical departure from the typical recruitment agency focus on quick placements and commissions. “It’s an industry not always associated with transparency, fairness or long-term thinking… we see that as an opportunity to do things differently,” Sawran-Smith notes . Instead of just filling jobs, TalentWeb offers holistic, partnership-based services: flexible pricing for social sector clients, pro bono recruiting for worthy causes, and taking extra time to ensure candidates’ values and purpose align with the roles (not just their skills) . They even follow up with unsuccessful candidates to coach them toward other purpose-driven employers, demonstrating genuine care beyond the transaction . By doing so, TalentWeb is reshaping expectations in their sector – showing that a recruitment firm can be a connector of purpose, not just a middleman.
Internally, TalentWeb “walks the talk” as well. The company has built an employee culture around wellbeing, inclusion and growth, to ensure its team thrives and can deliver on its mission . They offer robust parental leave, wellness days and allowances, professional development stipends – significant perks in the high-pressure recruiting world – to support their staff’s work-life balance . “We want to make sure we create an open space and prioritise the wellbeing of the people that work at TalentWeb,” Sawran-Smith explains . Just as they counsel client companies to be better employers, TalentWeb aims to model those practices itself. This has paid off in engagement and retention: the firm has twice been recognized in Australia’s Best Places to Work list, and even won an Employer of Choice award . It turns out, when you put people and purpose first, you become a magnet for like-minded talent – just as Intrepid and Bank Australia found in their industries.
Crucially, TalentWeb measures its impact and continually raises the bar. They use the B Impact Assessment as a live tool to benchmark progress, which helped pinpoint improvements that boosted their B Corp™ score by 15% in a recent recertification . For example, feedback from employees and clients is actively gathered and acted upon, ensuring the business stays accountable to its values at every level . “Everyone within the business has a say on the direction of the business and changes we make… and that feedback loop extends to our customers and clients as well,” notes Sawran-Smith . This inclusive approach surfaced new ideas – from greener office practices to more diverse hiring panels – that have strengthened TalentWeb’s impact model over time. The team also developed a bold guiding statement – “We do today what others do tomorrow” – to capture their forward-looking, proactive ethos . In other words, they strive to be ahead of the curve in integrating purpose and to inspire their industry to follow. By formalizing their values and measuring outcomes (from candidate satisfaction to the social missions of client organizations served), TalentWeb ensures their impact model isn’t static. It evolves as a source of continuous innovation and competitive advantage. Today, the firm not only fills roles; it is helping build an ecosystem of purpose-led organizations and careers – a legacy far more profound than any single placement fee.
Ready to make this real in your business? Start with six actionable steps for embedding impact.
Beyond CSR: The Rise of Embedded Impact Business Models
The journeys of Intrepid Travel, Bank Australia, and TalentWeb highlight a powerful truth: business can be a force for good when impact is embedded at the core. They are part of a broader movement of companies rejecting the old paradigm of CSR as a peripheral activity, and instead designing their entire business models around positive social and environmental outcomes . In the past, a company might have viewed purpose as a “nice to have” – a department or program separate from the profit engine. Today, purpose is the engine for these businesses. This shift is evident in the explosive growth of the B Corp™ movement and other impact-focused enterprises worldwide.
Consider the statistics: there are now nearly 10,000 Certified B Corporations™ across 100+ countries , and the number of B Corps™ globally has almost doubled (95% increase) since 2018 . Australia and New Zealand have seen a 58% rise in B Corps over the same period – with a per-capita concentration among the highest in the world . This growth reflects a surging demand from consumers, employees and investors for businesses that balance profit with purpose. In Europe, the B Corp™ community grew 24% in just the past year, even as broader economic growth slowed . The momentum is clear: a new generation of businesses (“Generation B”) is pursuing purpose as well as profit, and proving that doing so drives success rather than hindering it . For instance, recent data in the UK showed certified B Corps growing revenue faster than the national average and increasing employee headcount, bucking economic trends . Purpose-led innovation can open new markets, build brand loyalty, and foster resilience – advantages that more and more companies are keen to capture.
Another trend is the rise of the “triple bottom line” mindset. Businesses are moving from a shareholder-only focus to managing for people, planet and profit together – sometimes called the triple bottom line or “three Ps”. Bank Australia explicitly frames its performance this way, saying its bottom line is a “triple bottom line” that includes what makes sense financially as well as what customers want for the planet and society . Likewise, the Global Alliance for Banking on Values and similar networks are pushing financial institutions to adopt people, planet, prosperity as equal priorities . This holistic approach is increasingly supported by investors too, through the growth of ESG (Environmental, Social, Governance) investing and impact investing. In short, the bar for corporate responsibility is being raised – from doing no harm, to actively doing good as a core business strategy.
What sets the leaders apart (like our three case studies) is that they go beyond surface-level initiatives; they embed impact deeply and make it measurable. As Net Impact describes, “corporate impact goes beyond CSR, embedding social and environmental considerations into the core of a company’s business model.” This means impact is tied to revenue streams (Intrepid’s purposeful travel experiences, TalentWeb’s values-aligned placements, Bank Australia’s impact finance products), and tracked with clear metrics (carbon reductions, community investments, stakeholder satisfaction, etc.). By integrating impact and measuring it, companies can hold themselves accountable and continually improve – just as they do with financial metrics. B Lab™’s assessment framework has been a helpful tool in this regard, providing standards and benchmarks that encourage continuous improvement (remember, B Corps must recertify and often up their scores every three years) . And as these companies improve, they often inspire peers in their industries to follow suit, creating a ripple effect. We’re seeing a virtuous cycle: the more businesses prove that integrated impact models work, the more others are emboldened to try the same, which in turn grows the overall impact economy.
The stories of Intrepid Travel, Bank Australia, and TalentWeb should fill any purpose-led leader with optimism. These companies prove that embedding impact is not only possible but transformative. They show that a business can be customer-owned and community-guided, or climate-focused and commercially strong, or values-driven and innovative without compromise. When you put purpose at the centre, you do not just make better decisions. You build a better business.
If their journeys have sparked a desire to take action in your own organisation, you are not alone. Many leaders are asking the same questions. Where do we start? How do we align our operations with our intentions? What does a true impact business model look like in practice?
We have distilled those insights into a companion guide to help you turn inspiration into action. Whether you are just beginning or looking to go deeper, it outlines six practical ways to embed purpose into your strategy, your products, your culture and your impact. Read next: Building Your Impact Business Model It is a hands-on resource for leaders ready to lead with clarity, courage and conviction. The world does not need more business as usual. It needs more businesses like yours, brave enough to build what matters.
