Crown Agents Bank has achieved certification as a B Corporation (B Corp), becoming one of the first UK banks to achieve that status. The certification demonstrates that Crown Agents Bank meets the highest social and environmental performance standards, transparency and governance.
B Corp is regarded as the most rigorous and comprehensive environmental, social, and governance (ESG) standards, requiring ongoing evidence of a commitment to real business change. The process puts the responsibility on organisations to be more transparent in their ESG progress and take accountability for the impact of their business.
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Social impact is an intrinsic part of Crown Agents Bank’s mission. The bank works closely with governments, international development organisations, NGOs, and others to facilitate the movement of money. This includes mitigating the impact of natural disasters or supporting conflict regions. Crown Agents Bank is part of a growing B Corp movement demonstrating how business can help solve the world’s most pressing challenges. Transparency and accountability are a cornerstone of Crown Agents Bank’s ESG strategy, so undergoing the rigorous B Corp process evidences and benchmarks its commitment to sustainable and responsible business practices for its employees, clients, partners and regulators.
Impact of the certification
The certification is expected to bring significant positive impacts to Crown Agents Bank and its stakeholders. It should increase alignment with business and values. The certification enhances Crown Agents Bank’s reputation as a socially responsible and environmentally conscious organisation. It is evidence of the fintech bank’s commitment to ethical and sustainable business practices.
The certification is also expected to increase trust. Crown Agents Bank’s B Corp certification enhances credibility and trustworthiness among partners and collaborators that they’re engaging with a company that shares aligned values.
Bhairav Trivedi, CEO at Crown Agents Bank, said: “As a purpose-driven organisation, achieving B Corp is a huge milestone for the business. B Corp certification is a leading indicator of trust, transparency, and accountability, which is critical for any business, particularly for a bank working in some of the most demanding markets around the world. Being part of a listed entity further amplifies the significance of B Corp certification, as it highlights our commitment to sustainable and responsible business practices to our shareholders, investors, and the wider public.”
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