Octopus Group, the financial services and energy group, has announced today its certification as a B Corporation (or B Corp), joining a growing group of companies pursuing purpose as well as profit.
The certification means Octopus has been recognised 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. Five key impact areas included in the B Corp assessment, those being Governance, Workers, Community, Environment and Customers.
To complete the certification, Octopus will legally embed its commitment to purpose beyond profit in its articles of associations.
Simon Rogerson, CEO and co-founder of Octopus Group said:
“For a long time, generating profit was seen as the primary role of business. That is changing quickly as people recognise the wider responsibility businesses have to society, and the growing B Corp movement represents another acceleration in that shift.
“When we first founded Octopus the financial services industry was broken. We wanted to try fixing it by building a different type of company that put the customer first. As we grew, we began to realise there was an even greater opportunity to make a positive difference to millions more people.
“Our mission now is to invest in the people, ideas and industries that will help to change the world. This B Corp certification is proof that we really mean it.”
For journalists in their professional capacity only. Issued by Octopus Group: April 2021.