ESG firm twentyfifty recertified as B Corp
Environmental, social and governance consultancy twentyfifty is celebrating its recertification as a B Corp. The firm first became a member of the movement in 2017, earlier than many of its industrial counterparts.
B Lab is the non-profit network transforming the global economy to benefit all people, communities and the planet. It certifies companies as ‘B Corporations’, with only businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability making the grade.
The industry’s B Corp cohort has been steadily growing, alongside consumer expectations for serious ESG commitments from companies they spend money on. Among the latest cohort of firms to obtain the certification areMagnetic, BIP and 4C Associates.
Once a company becomes a B Corp, however, it is by no means a done deal. Firms must strive to uphold the standards of the movement constantly, and will be re-evaluated every three years if they hope to maintain B Corp status. Having first become a member of the growing movement in 2017,twentyfifty has now successfully undergone this process for a second time.
“We have watched the B Corp movement grow and grow,” a statement from the firm read. “Our recertification recognises the hard work of our team, and the commitment of our clients as we partner with them to embed human rights into their business strategy. As a B Corp, we are recognised for our high standards of social and environmental performance, transparency, and accountability but there is always more we can do.”
Founded by Luke Wilde in 2004, the firm’s name comes from when he worked with businesses and the United Nations to develop management practices and trainings which, under the UN Guiding Principles of Business Human Rights, have become the expectation of all companies. A prediction from the UN that the world’s population would reach 9 billion by 2050 suggested to Wilde that a consulting firm which could support businesses in making that a healthier, fairer world would be important – so twentyfifty was born.
The ESG consultancy’s 2023 recertification saw it commended by B Lab’s examiners on a number of fronts. The firm’s release noted it gained a score of 26.9 out of 30 for twentyfifty’s ‘Impact Business Model’ – which aims to create positive outcomes through social impact work with clients – alongside the “transformational improvements made through our projects”.
This helped twentyfifty’s overall B Corp score improve by 30%. But the firm is by no means resting on its laurels now. The company also confirmed it was taking steps to improve on multiple fronts, including environmental management, civic engagement, and diversity and inclusion.
The statement concluded, “We are committed to continuing our impactful work with our clients, and directly as a company in the communities where we work. A recent example is with our Ukrainian friends in Frome. We also welcome B Lab’s work on evolving the standards for B Corp Certification and the positioning of human rights as a non-negotiable requirement. We have shared our feedback and look forward to seeing their progress.
Earlier in the year, twentyfifty was named as a top advisory firm in Consultancy.uk’s 2023 industry rankings. The firm received a gold rating in the ESG and sustainability categories.