Connected Asset Management (CAM) has become one of the UK’s few FCA-regulated positive impact investors to certify as a B Corporation dedicated to using business as a force for good.
The London-based asset manager provides investment management services to global financial clients including one of the UK workplace pension providers Smart Pension.
CAM works to develop impact investment solutions to enable its clients to deploy capital responsibly towards assets including microfinance, social housing, renewable/clean energy and Tech for Good (Impact Tech).
The company was certified by B Lab, the not-for-profit behind the B Corp movement, as having met rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit.
This news places Connected Asset Management right at the heart of a shift in global finance towards responsible investing which has seen large pension firms announce plans to decarbonise and invest in green strategies. Connected is working closely with Smart Pension in further developing its investment solution and in particular the evolution of its responsible investment strategy.
Founder and MD Darren Agombar, said: “We are seeing a paradigm change in global finance towards responsible investing. It is no longer acceptable to ignore how investment returns are generated nor the potential societal impact that process might have.
“Becoming a B Corporation is legally rigorous and not to be taken lightly. It’s widely accepted that companies that continue to contribute to climate change or operate poor corporate governance for example, will see an impact in their long-term financial health. Tackling these issues head on in a transparent way is not just a question of values, it is evidence of doing good business.
“B Corp certification will provide us with a strong framework from which we can deliver our vision and support other businesses to assign capital in a way that will influence the future world we live in, in a good way.
“To put it simply, obtaining B Corp certification for Connected is one of the proudest achievements of my professional career.”
The B Corp certification addresses the entirety of a business’ operations and covers five key impact areas of Governance, Workers, Community, Environment and Customers. Connected Asset Management will display an overall B impact score based on its performance.
To complete the certification, the companies must legally embed their commitment to purpose beyond profit in their company articles.
Chris Turner, executive director of B Lab UK said: “Being able to welcome Connected Asset Management to the B Corp community is hugely exciting. Its commitment to doing business differently will be an inspiration to others and really help spread the idea that we can redefine success in business to be as much about people and planet as it is about profit.”
There are currently only 330 certified B Corps in the UK and over 3,400 worldwide. The B Corp community in the UK, representing a broad cross section of industries and sizes, includes well-known brands such as The Guardian, innocent, Patagonia, The Body Shop, and as of last week, Jamie Oliver.