Wealth management firm, Progeny, has announced it is now B Corp certified and part of a global community of businesses that are verified as meeting high standards of social and environmental impact.

The milestone will make Progeny one of a small number of B Corp wealth management companies in the UK, who are leading a movement to build systematic, sustainable change within business communities around the world.

A B Corp certification involves reviewing a company's business model and information about its operations, structure and various work processes against five areas of impact, which are governance, community, workers, environment and customers.

The new certification also follows Progeny Wealth achieving corporate chartered status with the Chartered Insurance Institute (CII) at the start of the year.

UK managing director at Progeny, Caroline Hawkesley, said: “B Corp certification means a huge amount to Progeny. As a business, you need to fully commit to the process and the B Corp values must become truly embedded in your structure and culture if you want to successfully meet the certification standards.

“We assembled a dedicated project management team to lead the certification process, as it's certainly not a tick-box exercise. Today's news is also by no means the end of the journey, as by definition, it's all about sustainability, with a re-certification every three years keeping us on track for continuous improvement and long-term business resilience.”

Progeny CEO, Neil Moles, added: “In the context of growing consumer and investor focus on sustainability, it's time that the wealth 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.”

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