Crown Agents Bank has proudly announced its recent certification as a B Corporation™ (“B Corp”). This notable accomplishment marks Crown Agents Bank as one of the pioneering UK banks to gain this esteemed recognition. The bank, renowned for its FX and payment services across 150 challenging markets, has now demonstrated that it upholds the utmost standards in social and environmental performance, transparency, and governance.
The B Corp certification is globally recognised for its stringent Environmental, Social, and Governance (ESG) standards. It demands consistent proof of dedication to substantial business transformation, pushing businesses to fully disclose their ESG progress and to take responsibility for their operational impact.
For Crown Agents Bank, creating a social impact has always been paramount. It actively collaborates with various entities such as governments, international development bodies, NGOs and more, ensuring money reaches those most in need. Through this, whether assisting regions affected by natural disasters or conflicts, Crown Agents Bank cements its place in the growing B Corp movement that focuses on addressing significant global issues.
Transparency and Accountability: A Core ESG Strategy
The bank’s commitment to transparency and accountability is integral to its ESG strategy. Undertaking the stringent B Corp certification process provides a benchmark that showcases its dedication to sustainable and responsible business practices. This approach benefits not only the bank’s employees but also its clients, partners, and regulators.
The B Corp certification is anticipated to yield multiple advantages for Crown Agents Bank and its stakeholders:
- Reinforcing Reputation: The certification amplifies Crown Agents Bank’s stance as an environmentally aware and socially responsible entity. It affirms the bank’s genuine commitment to ethical and sustainable business methods.
- Building Trust: The B Corp certification enhances the bank’s credibility, assuring partners and collaborators of their alignment with a value-centric company.
- Regulatory Alignment: The certification ensures that Crown Agents Bank remains in tandem with evolving regulations emphasising business transparency and sustainability.
As a purpose-driven organisation, achieving B Corp is a huge milestone for the business. B Corp certification is a leading indicator of trust, transparency, and accountability”
Industry Insights and Future Ambitions
Bhairav Trivedi, CEO at Crown Agents Bank, shared, “Achieving B Corp is a monumental event for our business. Especially for a bank like ours, operating in some of the world’s most demanding markets, this certification stands as a testament to trust, transparency, and accountability.”
Charlie Bronks, the Head of ESG at Crown Agents Bank, emphasised the bank’s deep-rooted commitment to social impact. He said, “Being a B Corp certified entity showcases our steadfast commitment to ESG. It’s not about just making statements; it’s about holding ourselves responsible and striving to effect genuine positive change.”
Bronks further added that the bank’s journey towards improvement is ongoing. The focus remains on ensuring that the B Corp ethos seamlessly integrates and progresses with their overarching ESG strategy.
Recognitions and Contributions
Driven by its core values, Crown Agents Bank seamlessly incorporates ESG risks and strategic objectives into its operations. In both 2022 and 2023, the bank received the Gold Sustainability Rating from EcoVadis, ranking among the top 94% of 94,000 evaluated companies spanning over 160 nations and 200+ sectors. Additionally, Crown Agents Bank is ardently committed to numerous mission-led economic communities, including the World Economic Forum New Champions, a consortium aimed at addressing global economic challenges.