Becoming B Corp certified means that while we have high ESG standards at ECI, historically that’s been quite internal facing. This makes those standards public and represents a real commitment to what we want to do on ESG.
I’m delighted that we’ve got our B Corp certification — it’s a really exciting part of our journey. We’ve always had a mission about building successful businesses, and this is part of how we create our own business to be even more sustainable. When we first started thinking about becoming B Corp, the thing that really resonated with me personally was this idea of businesses being a force for good. That’s something I’m very passionate about. The announcement that we’ve achieved B Corp certification is a really proud moment and a key milestone for us — mainly because it’s recognition of the hard work and effort we’ve put in over several years to get to this point, after more than ten years of looking at ESG.
We’ve developed a huge amount of experience and expertise in the area, both internally within ECI and across a range of external relationships. B Corp certification means the whole ECI team now has a benchmark from which to make further progress.
It’s important because we see a lot of demand from people asking what progress we’re really making on ESG — whether that’s from the ECI team, the management teams we meet, or our investors. People want to understand how you’re balancing the needs of profit, but also people and planet.
So what we’ve done is pour all of that information and experience together into a knowledge base — the ESG Toolkit. It’s a selection of case studies and tools that businesses we’ve invested in have found useful as they go on their ESG journey. What we find is that management teams really struggle with knowing where to prioritise and what to focus on — there’s just too much. That’s where the impact assessment can be really useful, because it allows you to benchmark yourself against each of the subcategories and understand where you’re doing really well and where you can do better.
We are delighted to be part of a network of like-minded companies and look forward to taking inspiration from the great work that’s already happening both in our industry and beyond. Importantly, it’s not just the internal knowledge and expertise within ECI — now that we’re part of the B Corp network we have access to a global network of contacts in different sectors and of different sizes, whose knowledge and experience we can tap into as well.
We’re excited to have achieved our B Corp certification, but this is just the beginning of the journey. The framework highlights lots of areas where we still need to improve, and I’m excited that we’ve got plans in place to make that happen.
We’re ambitious for our own business just as we are for the portfolio companies we back, and having that framework enables us to have some concrete plans on the areas we need to improve in.
I know it’s a cliché, but ESG really is a journey — so this is a great step forward. Now it’s all about continuing to invest in the work that we’re doing and how we help management teams. So watch this space.