First Sentier Investors achieves B Corp status

Investment house First Sentier Investors (FSI) has achieved B Corp status, becoming the latest business to receive the badge given to socially-minded businesses.

The Sydney-based firm, which manages more than £120billion in assets worldwide, said it had received a score of 107.2 by B Lab, the non-profit company behind the certification.

Businesses have to achieve a score of at least 80 out of 200 against five areas of impact – governance, community, workers, environment and customers – in order to certified as B Corps.

FSI is behind several funds, including First Sentier Responsible Listed Infrastructure, which is invested in shares of companies involved in infrastructure around the world.

The industries covered include utilities (water and electricity), highways and railways, airports services, marine ports and services, as well as oil and gas storage and transportation.  

FSI chief executive, Mark Steinberg, said the certification supported the firm’s commitment to becoming a more responsible business.

‘We recognise an increasing need to create a positive impact for all our stakeholders, including our clients, our employees and wider society, and we wanted a way to verify this impact, he said.

‘B Corp Certification provides us with this framework.’

He added: ‘The certification means we are now part of a community of companies with a shared goal to transform the communities in which we live and operate for the benefit of the people and our planet.’

Since it first launched in the US in 2007, more than 6,000 companies have achieved B Corp status, including hundreds of British firms. 

B Corp businesses are those that meet the ‘highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.’

B Corp certified companies are assessed every three years on whether they continue to meet evolving standards.