In brief: BGF attains B Corp status

British and Irish growth manager Business Growth Fund (BGF) has become the latest private markets firm to receive B Corp certification, according to an announcement.

B Corp status is an independently verified certification of a company’s sustainability credentials: it is administered by B Labs, a US non-profit, which measures the impact of companies’ operations on the “environment, communities, customers, suppliers, employees and shareholders” using its B Impact Assessment Tool. Companies must achieve a score of at least 80 in order to be certified: BGF achieved a score of 97.5.

“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,” said head of ESG Roshni Bandesha.

BGF was launched in 2011 by banking groups Barclays, HSBC, Lloyds Bank, Royal Bank of Scotland and Standard Chartered to invest in British SMEs. It has since invested more than £3.5 billion (€4.06 billion; $4.38 billion) across over 550 companies, per the statement.

B Corp certification has been conferred on several private markets firms including Astanor Ventures, Verdane, TowerBrook Capital Partners, Helios Investment Partners, Summa Equity, Atomico, Ambienta, Abris Capital Partners and Newcore Capital.

• Further reading: Purpose, profit, status: Why private markets firms turn to B Corps