BpH Wealth achieves B Corp Certification
We are delighted to announce that BpH Wealth is now a certified B Corp. The certification process took over a year and has involved a great deal of consideration into how we currently run our business and what we could do to improve.
Becoming a B Corp
Obtaining the Certification required a rigorous review of all of our processes, broken down into 5 sections: Governance, Environment, Workers, Community and finally Customers.
There were over 150 questions to answer, each worth a certain amount of points. To pass we had to achieve a minimum score of 80 points. We are proud to say that we scored 96.4, making us comfortably over the minimum. We scored particularly strongly on ‘customers’ and ‘workers’ demonstrating our already strong commitments to the welfare of our clients and our team.
What is B Corp?
B Corp is a growing international initiative that recognises that while the current economic system has a great many strengths, it is not a perfect system for everyone. They believe it is not enough to rely on governments to solve issues like workplace satisfaction, equality of opportunity and climate change, but that businesses have a role to play too.
This is not to say all businesses should not be motivated by profits, but that instead of being solely profit-driven, companies should consider their wider impact on community and environment.
To obtain B Corp certification, businesses must make a legal commitment to factor the ‘triple bottom line into their key decision making, i.e. they should consider their impact on people and planet, as well as profit, when planning for the future. By taking on this commitment ourselves, we hope to ensure that our business becomes better for our clients, our team and the wider world as we continue to grow and develop.
What B Corp means to us
We have always seen ourselves as an ethical business, our primary purpose is to improve the lives of our clients. We also recognise our moral responsibilities as an employer, and take pride in our office culture and the procedures and policies we have to promote the welfare of our team.
This is an excellent foundation, but it is becoming more apparent that businesses like ours can do more, whether this is minimising our environmental impact, or exploring ways we can benefit the wider community. In essence, if we believe we can do more good or ‘minimise harm’ without significantly impacting our ‘traditional’ bottom line, we see this as a something worth exploring.
We see the B Corp Certification as a way to demonstrate our values as a company and a way to hold ourselves to account as we look to become the best business we can be for everyone. Undergoing the process has already made us ask ourselves questions about how we operate, and consider suggestions for how we may do better.
What’s next?
While we are pleased to have been awarded the Certification, our work does not stop here. All B Corps must recertify every three years, and while we are delighted with our initial score, it is our aim to show a notable improvement by the time for recertification comes around.
At the top of our list is measuring and reviewing our energy and water usage, rethinking the role of our existing charity committee and continuing to develop our offering to clients who wish to express their values when investing with us.
You can see more information about B Corp, as well as a breakdown of our score here: BpH Wealth Management – Certified B Corporation
