In August 2024, we received the incredibly exciting news that we had become one of just 2,000 Certified B Corporations in the UK.   

B Corp companies are verified by B Lab, a global nonprofit network, to meet the highest standard of social and environmental performance, transparency, and accountability. The aim of the B Corp movement is to transform the global economy to benefit all people, communities and the planet, and use business as a force for good, placing purpose over profit.

We loved the idea of becoming a Certified B Corp when we first heard about it a few years ago, joining the likes of Riverford Organics, Patagonia and JoJo Maman Bebe.

It took 18 months to work through the challenging verification process and so we are proud to not only have gained B Corp status, but to have achieved an extremely high score. B Lab looked at and assessed everything about what we do, from our finances, how we select suitable investments for our clients, to HR policies, office energy usage and recycling. It was nothing short of full disclosure, and the process certainly made us think and reevaluate some really important matters which we had thought we were good at, but could improve on.

We are all about improving, so the process doesn’t stop there. Now we are a B Corps, it’s all about growing and becoming better, so watch this space!

Some Facts

• B Corp was a natural progression for HHFM after moving to Employee Ownership in 2020.
• We have measured ourselves against the 17 UN Sustainable Goals for a number of years, which again align nicely with the B Corp movement.
• A minimum of 80 points is required in the ‘B Impact Assessment’ (BIA) in order to become a B Corps, and HHFM scored 131.
• We feel that the BIA itself brought the team together; everyone played a part and it really made us think about how we are doing things.
• Only a small handful of financial planners have B Corp status, we are delighted to be one of them!
• We hope that our new B Corp status demonstrates that we practice what we preach. We don’t just say we are doing good, but we have undergone a rigorous certification process to improve and social and environmental performance.

Facts about B Corp

• B Lab began in 2006 with the idea that a different kind of economy was not only possible, but necessary, and that business could lead the way towards a new stakeholder-driven model.
• The ‘B’ in ‘B Corp’ standards for Benefit for all.
• Currently, there are 2,000 B Corps in the UK, and over 9,000 B Corps across the world, spread over 104 countries.
• B Corps make a legal commitment by changing their governance structure to be accountable to all stakeholders, not just shareholders.

We encourage everyone to consider either becoming or using firms who are Certified B Corporations. Firms and employees can take a look at completing the B Impact Assessment (BIA) here: The B Impact Assessment – B Lab UK (bcorporation.uk). Even if you have no plans to ever submit the assessment to B Lab, it is free of charge and provides a very interesting insight into how your company is doing in terms of the impact on your team, community, customers and the environment.