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P.ublished 15th June 2023
business
Chartered Financial Advice Firm, Progeny, Announces B Corp Certification
Chartered financial advice firm, Progeny, joins a small number of UK companies in its sector in becoming B Corp Certified. Headquartered in Leeds, Progeny is now part of a global community of businesses that are verified as meeting high standards of social and environmental impact.
According to the B Corp directory, of the approximately 1,800 UK firms who currently hold the certification, there are only around 30 financial advice firms who are part of the B Corp community and its movement to build systematic and sustainable change within business communities around the world.
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Neil Moles
“In the context of growing consumer and investor focus on sustainability, it’s time that the financial advice and investment management industries turned their attention to their own activities in this area.
“If we want to talk to our clients about Environmental, Social and Governance (ESG) investing and sustainability then we need to be living and breathing these principles ourselves. We must practice what we preach.
“We are already seeing how clients want to understand more about our own activities and ethics and I think this will only increase, as consumer appetite grows for holding businesses and brands to account on their sustainability credentials.”
Chris Turner, Executive Director of B Lab UK, comments:
“We are pleased to have B Corps of all shapes and sizes as part of our community – from startups to multinationals and across many different industries. Business is a powerful force and B Corps demonstrate that you can do good in any sector. Welcoming Progeny is an exciting moment because they have an opportunity to lead the way within the financial advice industry. We and the rest of the B Corp community are really pleased to support Progeny in paving the way for a new way of doing things.”
“We are pleased to have B Corps of all shapes and sizes as part of our community – from startups to multinationals and across many different industries. Business is a powerful force and B Corps demonstrate that you can do good in any sector. Welcoming Progeny is an exciting moment because they have an opportunity to lead the way within the financial advice industry. We and the rest of the B Corp community are really pleased to support Progeny in paving the way for a new way of doing things.”
In the Financial Conduct Authority’s 2021 ESG strategy, it emphasises the role of finance in driving positive change and that consumers need to be able to rely on firms to take ESG seriously and deliver on their ESG promises.
The rigorous B Corp certification procedure involves reviewing a company’s business model and information about its operations, structure and various work processes against five areas of impact: Governance, Community, Workers, Environment and Customers. It also requires that businesses target continuous improvement, with recertification every three years.