Wednesday
November 2
2022

BlueMark Becomes First Impact Verification Firm to Be Certified as a B Corp

BlueMark, a leading provider of independent impact verification and intelligence for the impact investing market, today announced that it was certified as a B Corp, joining thousands of businesses around the world that are committed to using business as a force for good.

“Our goal is to strengthen trust in sustainable and impact investing by bringing more transparency and accountability to the industry,” said Christina Leijonhufvud, CEO & Co-Founder of BlueMark. “We know that in order to hold our clients accountable, we must also be willing to hold ourselves accountable. Achieving B Corp verification signals to the rest of the field our own commitment to the kind of transparency and learning that we ask of our clients.”

“BlueMark fills a critical need in the sustainable and impact investing market with its verification services, ensuring that investors are held accountable for their impact claims and practices,” said Roy Swan, Director of Mission Investment at the Ford Foundation, one of the initial investors in BlueMark. “This next step towards B Corp certification shows that BlueMark doesn’t just talk the talk on accountability—they are also walking the walk by holding themselves to the same standards as their clients.”

Founded in January 2020, BlueMark has completed more than 100 verifications for impact investors managing a combined $189 billion in impact-oriented assets under management. These verifications are structured around the two key pillars of accountability for impact — impact management practices and impact reporting — which form the foundation for BlueMark’s verification services.

  • Practice Verification – assessment of the extent to which a client has implemented the policies, tools, and processes necessary to execute on their impact strategy
  • Reporting Verification – assessment of the extent to which a client’s reporting of its impact performance is complete and reliable

By aggregating data from these verifications, BlueMark is also able to generate a wealth of insights into industry trends, market challenges and emerging best practices. BlueMark regularly shares these insights with the impact investing field via a research series on impact management practices (“Making the Mark”) and a series on impact reporting (“Raising the Bar”). These research reports are widely shared across the impact investing industry and can be used as a guideline to best practices for both new and established impact investors.

B Corp Certification is awarded by B Lab, a non-profit organization that is committed to transforming the global economy to benefit all people, communities, and the planet. In order to become a certified B Corp, a company must earn a minimum audited score of 80 out of 200 possible points on the B Impact Assessment (BIA), a rigorous evaluation of a company’s business practices and its impact on key stakeholder groups. B Corps are expected to meet the highest standards of social and environmental performance, accountability, and transparency. To maintain their B Corp status, B Corps must also recertify every three years and receive an updated score.

Learn more about the BIA at https://www.bcorporation.net/en-us/programs-and-tools/b-impact-assessment/ and review BlueMark’s scores at https://www.bcorporation.net/en-us/find-a-b-corp/company/blue-mark.

Source: PR Newswire (link opens in a new window)

Categories
Impact Assessment, Investing
Tags
nonprofits