Firms must continuously prove their credentials in these areas. Despite pushback on ESG in the investment world at times, businesses appear to continue valuing such credentials as a way of standing out for clients, suppliers and employees.
UK-based Lincoln
Private Investment Office is trumpeting its new B Corp
certification, a status which, it says, allows it to broadcast
its sustainability, impact and ethical qualities.
Lincoln, headquartered in London, said it has evaluated its
business along the tests of “governance, work, community,
environment, and customers.”
“We are excited to join the community of B Corps. It has felt
like a natural fit for the way we see the world and I believe
this confirmation of how we reach high standards of social and
environmental performance, and our transparency and
accountability, will be incredibly important in the years
ahead,” Ross Elder (pictured), managing partner, said in a
statement yesterday.
B Corps, or Benefit Corporations, are businesses that are deemed
to meet rigorous social and environmental standards. Status is
granted by B Lab, a non-profit organisation.
There are more than 2,000 such organisations in the UK (source: B
Corporation UK). In the wealth management/private banking space,
firms with the accreditation include Coutts, C Hoare & Co, and
Crown Agents Bank (this bank facilitates payments and foreign
exchange in emerging and frontier markets). In wealth management,
others include Progeny, EQ Investors and Triple Point. Outside
financial services, B Corps include brands such as Innocent,
Patagonia, The Body Shop and organic food pioneers Abel &
Cole.
“We know that Lincoln are going to be a fantastic addition to the
community and will continue driving the conversation forward,”
Chris Turner, executive director of B Lab UK, said.
(This year, Lincoln also won the private investment office award
from WealthBriefing in the European awards programme for
2024.)
B Corp Certification is a designation signifying that a business
is meeting high standards of verified performance,
accountability, and transparency on factors from employee
benefits and charitable giving to supply chain practices and
input materials. Firms must continuously prove their credentials
in these areas. Despite pushback on ESG in the investment world
at times, businesses appear to continue valuing such credentials
as a way of standing out for clients, suppliers and
employees.
Appointment
Separately, the wealth manager appointed Jason Mackay to join its
investment advisory board.
Mackay worked for eight years in equities for UBS and was a
managing director at Morgan Stanley on their proprietary trading
desk. He went on to run a $3 billion hedge fund at GLG for seven
years, sat on boards of several companies, and founded a
number of firms, Lincoln said.