BGF attains B Corp certification
“We are incredibly proud to join the B Corp community, which has been a central goal for BGF”, says our Head of ESG, Roshni Bandesha.
BGF has become a certified UK B Corporation (B Corp). This reflects our long-standing commitment to creating a positive impact both within and beyond the organisation.
Through its investments, BGF seeks to foster sustainable, responsible and transparent business practices, across its large, diversified portfolio of growth companies. Since its inception in 2011, BGF has provided over £3.8 billion to more than 550 companies, across every corner of the UK and Ireland.
The B Corp certification addresses the entirety of a business’ operations and covers five key impact areas: Governance, Workers, Community, Environment and Customers. The certification process is rigorous, with applicants required to provide evidence of socially and environmentally responsible practices, relating to energy supplies, waste and water use, worker compensation, diversity and corporate transparency.
Roshni Bandesha, Head of ESG at BGF, said: “We are incredibly proud to join the B Corp community, which has been a central goal for BGF. It was a fantastic learning journey, with multiple opportunities for cross-collaboration across the business, and the team at B Lab provided tremendous support along the way.”
“While the certification process requires a benchmark score of over 80 to pass, BGF achieved a score of 97.5. This is a strong place to start and reflects the positive actions that we are already taking. We look forward to building on the score further in the months and years to come.”
“BGF exists to deliver a positive impact, through our investment, support and influence, and we believe that aligning to good ESG practices is essential to building strong, sustainable and prosperous businesses that have a positive impact on both people and the planet.”
B Corp accreditation is a testament to the positive transformation that BGF is championing across the growth economy. It emphasises BGF’s belief in providing long-term, critical business support to its portfolio companies. Business-critical programmes include supporting portfolio companies to enhance their social responsibility, environmental impact and accountability across their stakeholder groups.
Andy Gregory, CEO, BGF said: “BGF’s founding purpose is to facilitate long-term growth for SMEs, champion sustainable business practices and thoughtful governance and, ultimately, contribute to the economic resilience of the UK and Ireland. We are extremely proud of our B Corp accreditation, which only deepens our commitment to this vision.
In the last 12 months, BGF has launched the BGF Foundation to deliver meaningful impact to small and mid-sized charities across the UK and Ireland. It is also leading the field in spearheading equity, diversity and inclusion (EDI) both within its own teams and those of its portfolio.
Chris Turner, Executive Director of B Lab UK, said: “Being able to welcome BGF to the B Corp community is hugely exciting. Their commitment to doing business differently will be an inspiration to others and really help spread the idea that we can redefine success in business to be as much about people and planet as it is about profit.”
B Corp certification is awarded to companies that have met rigorous social and environmental standards, which represent their commitment to goals outside of shareholder profit. Certification is administered by B Lab, the not-for-profit behind the global movement, with certified B Corps being reassessed every three years across all categories, to retain their certification. There are around 1,500 B Corps in the UK and 7,000 worldwide.