TL;DR
- Griffin received B Corp certification in less than five months from submission with a high score of 91.5, performing above the UK benchmarks and demonstrating the strong ESG framework they have already implemented
- B Corp certification is granted after a rigorous verification process by B Lab, the global non-profit organisation. Companies are assessed across the five areas of governance, workers, customers, environment, and community.
London | July 11, 2024 – Griffin, the UK’s leading bank for fintechs, is thrilled to announce that it is now a certified B Corp – the global community of companies committed to high standards of social and environmental performance, transparency, and accountability. This milestone reinforces Griffin’s dedication to embedding sustainable and ethical business practices into its operations at all levels.
B Corp certification is granted after a rigorous verification process by B Lab, the global non-profit organisation on a mission to transform for-profit business into a force for good and build a resilient, equitable and regenerative future economy. Companies are assessed across the five areas of governance, workers, customers, environment, and community.
With a score of 91.5, Griffin surpassed the 80-point threshold required for B Corp certification, performing above the benchmark both for the financial services sector and UK companies of a similar size. The certification process was completed in less than five months from submission, largely thanks to the early focus on sustainability and significant foundational work that Griffin has been carrying out since its inception.
David Jarvis, co-founder and CEO of Griffin, said, “We’ve aspired to join the B Corp community since as far back as 2019, so this is the realisation of a long-held dream. We’re thrilled to officially join a global community of like-minded businesses in working to be a force for good and playing a leading role in positively impacting and transforming the global economy.”
He added: “With the FCA’s new anti-greenwashing rule now in effect, certifications like B Corp provide a solid benchmark for good practice to keep us in check and ensure we are living up to our claims.”
“By committing to the high standards of verified performance, accountability and transparency of the B Corp certification, the team at Griffin continues to show dedication to helping their customers and everyone impacted by their business,” said Jesse Saarela, Principal at NordicNinja.
NordicNinja’s Managing Partner Marek Kiisa added: “As an EU Article 8 fund we have a strong focus on sustainability, and we’re excited to continue to partner with the Griffin team as they reinforce their emphasis on sustainability in their business.”
Looking ahead, Griffin is now focused on iteratively implementing its 2024 sustainability strategy to achieve its ESG goals and commitments for the year. In the spirit of transparency and accountability, Griffin recently made its internal sustainability policy publicly available, so key stakeholders can understand the bank’s approach in detail.
Griffin has also sought out industry collaborations that align with its ethical, environmental and social impact values, including joining the Partnership for Carbon Accounting Financials (PCAF) to get support on reporting on its portfolio emissions and becoming a committee member of the Payments Association ESG working group.
Read more about Griffin at our portfolio page here.
