What is a B Corporation?
B Corps are businesses that meet high standards of social and environmental performance, accountability, and transparency. They choose long-term investments over quick wins, and measure their success based on the positive impact they create.
There are over 7,000 Certified B Corporations around the world, including Patagonia, Aesop and Etsy. More than 560 of these B Corps are based in Australia and Aotearoa New Zealand.
Visit the B Corporation website to find out more.
Why we Did It
As a private equity firm, we recognise the transformative power of capital and the ripple effect of our actions. We see ourselves as a responsible force for good, generating returns in a way that fosters sustainable growth, building on solid foundations with a commitment to the environment and society.
It is not simply a badge of honour for us, it is an imperative that goes to the DNA of Glow Capital – as an organisation, as investors, as a culture and as a team.
It's a commitment to challenging ourselves, constantly assessing and improving in a transparent way where we are held accountable to our promises. This accountability extends beyond our shareholders to our employees and communities.
What It Means for Our Investors
We believe that our B Corp certification is a valuable asset for our investors. It is a testament to our commitment to long-term value creation and not just short-term profits. We believe in building enduring businesses and cultures that continue to grow well beyond our fund lifecycles.
Embracing responsibility isn't just a trend; it's a commitment to building a legacy of positive impact.
The Process
To secure B Corp status, Glow undertook due diligence over the course of 13 months.
Our impact was measured across five ‘Impact Areas’including: Workers, Customers, Governance, Environment, and Community. These measures were then examined in several rounds by the Global Certification Team.
To certify as a B Corp, we had to be awarded at least 80 points out of a possible 250+ under what is called the B Impact Assessment.
We are proud to share we achieved B Corporation accreditation following the assessment process, attaining a verified score of 114.8.
A Commitment to Continuous Improvement
The journey to becoming a B Corp is not without its challenges. It requires a thorough examination of your company's practices, a willingness to make changes, and a commitment to continuous improvement.
The process of becoming a B Corp was a valuable learning experience for us. It forced us to take a hard look at our operations and identify areas where we could improve. We also learned the importance of engaging with our stakeholders and getting their feedback on our social and environmental performance.
As a result of the B Corp certification process, we have implemented a number of new initiatives, including:
* The implementation of Path Zero to measure our carbon emissions
* A comprehensive ESG stream for our due diligence processes
* Incorporating environmental and social goals into annual staff reviews
* A ‘zoom first’ policy for meetings or carbon offsets for travel
* Ensuring our return-to-work policy for new parents is a priority
In this context, B Corp has become a tool that not only validates our commitment but also provides valuable resources to monitor and track the performance of ourselves and our portfolio companies over the years to come.
The Right Thing to Do
We believe that doing the right thing, with the right people, makes private equity a force for good. B Corp certification is an integral part of our framework to ensure sustainable growth and value creation. As the business landscape evolves, B Corp reminds us that responsible decisions today lead to thriving businesses well into the future.