What is B Corp and why have we chosen it?
B Corp is an all-round accreditation which assesses all aspects of our environmental and social performance, transparency and accountability. The accreditation is recognised internationally and is a growing movement to recognise that business can operate profitably as a force for good. B Corp links closely to the UN Sustainability goals which we have already committed to achieve.
B Corp recognises that business can have a negative impact on society and the planet. By embedding the Theory of Change throughout the economy B Corp members seek to make businesses a force for good working to eliminate the negative impact which the economy has on people, communities and the planet.
One of the biggest drivers for us to choose B Corp was because its values reflect closely those values which are already embedded in FI’s culture and represents a formal commitment to continue to build on these goals as we grow.
What do we have to do to achieve accreditation?
The B Corp verification process is a robust one which requires us to answer 200 questions covering governance, workers, community, environment, and customers. In the coming months we will be asked to supply information which supports our assessment in each of these categories.
Once we have achieved the accreditation, we will need to renew our certification, and demonstrate our continued improvement every 3 years.
Is this just a box-ticking exercise?
Absolutely not! We have invested significant resources into meeting the requirements for B Corp and a lot of work will still need to be done to complete the verification process. We believe this adds value to the FI brand and encapsulates our values.
You may have seen the B Corp logo on a growing range of products. This is a good thing and reflects a growing commitment for businesses to operate differently. FI is in a unique position where we are training those professionals who may go on to lead future B Corps, and it is important that we lead by example.
Achieving B Corp is the next step on our ESG journey, but is by no means our end goal.
Will this change the service which FI provides?
We hope that any changes will be a positive experience for our clients. Although we feel that the B Corp accreditation reflects our existing values we believe that this will challenge us to continue to improve and will be reflected in the quality of service provided.
We hope that our clients and suppliers may even come on the journey with us and some may even choose to become B Corps themselves.
Can I find out more?
There is a lot of information on the B Corp website and this short course is available for anyone who wants to know more. A list of current B Corps can be found here.
Learn more about our wider sustainability efforts and ESG initiatives: