Proud to be Certified ‘B’ Corporation Business
We believe that society’s most challenging problems cannot be solved by government and nonprofits alone
By harnessing the power of business, B Corporation businesses or ‘B Corps’ as they are most frequently referred to, use profits and growth as a means to a greater end: positive impact for their clients, employees, communities, and the environment. The B Corp community works toward reduced inequality, lower levels of poverty, a healthier environment, stronger communities, and the creation of more high-quality jobs with dignity and purpose.
Originally product manufacturers, such as Ben & Jerry’s, Body Shop, Abel & Cole, Innocent Drinks & Pukka Herbs obtained the certification as it was easier for them to manage the supply of raw materials from sustainable sources and control their environmental impact through packaging and distribution.
Becoming part of the community
Our journey to obtaining B-Corporation status started in 2016 when Director, Richard Child, was made aware of the certification through his work on Social Impact Investing. After gaining a deeper understanding of the certification, we introduced several material and significant changes that the B Corp accreditation and status would demand, the most significant being that we have changed our corporate documents to ensure that the governance of the business is focused on People, Profit and the Planet.
The assessment criteria are rigorous, and the questions are based upon the type and size of business. We had to complete 180 questions focused on five areas;
- Governance: how the firm is run
- Workers: how we look after our team
- Community: how we relate to and engage with the wider world
- Environment: our relationships with our suppliers, and how we select them, as well as how environmentally focused we are
- Customers: our advice to clients
The Core Values that drive Paradigm Norton meant that we scored highly in areas that focused on our clients and the staff team.
On 25th September 2019 we became the 228th UK company to be awarded the B Corporation certification, and the 21st financial services firm.
The way forward
The work doesn’t stop here, the ongoing B Corp process monitors the “triple bottom line” standards required by a social purpose business, relating to People, Profit and Planet. The PN team are already considering what additional changes we can make and we have a long list of achievable actions that will build on what we have already achieved.
Influencing the PN team
B Corp has already had an impact on the Paradigm Norton team. By taking the principles and applying them in our own lives we are considering our own impact on the community and environment in which we work and live. This has to be one of the many benefits of the B Corp certification.
If you would like to find out more about B Corp in the UK, you can visit their website: https://bcorporation.uk/