Crown Agents Bank secures B Corp certification

Crown Agents Bank is one of the first UK banks to achieve B Corp status

London, UK, 5^th October 2023 – Crown Agents Bank, today announced that it has achieved certification as a B Corporation™ ("B Corp"). Crown Agents Bank is a specialist payments and FX organisation with a UK banking license that moves money across 150 hard-to-reach markets. The certification demonstrates that Crown Agents Bank meets the higher standards of social and environmental performance, transparency, and governance.

B Corp is regarded as the most rigorous and comprehensive Environmental, Social, and Governance (ESG) standards, requiring ongoing evidence of a commitment to real business change. The process puts the responsibility on organisations to be more transparent in their ESG progress and take accountability for the impact of their business.

As a purpose-driven business, social impact is an intrinsic part of Crown Agents Bank’s mission. The bank works closely with governments, international development organisations, NGOs, and others to facilitate the movement of money to those that need it most. Whether this is to mitigate the impact of natural disasters or support conflict regions, Crown Agents Bank is part of a growing B Corp movement demonstrating how business can help solve the world’s most pressing challenges. Transparency and accountability is a cornerstone of Crown Agents Bank’s ESG strategy, so undergoing the rigorous B Corp process evidences and benchmarks its commitment to sustainable and responsible business practices for its employees, clients, partners and regulators.

The certification is expected to bring significant positive impacts to Crown Agents Bank and its stakeholders:

• Alignment with business and values: The certification enhances Crown Agents Bank's reputation as a socially responsible and environmentally conscious organisation. It evidences the fintech bank’s genuine commitment to ethical and sustainable business practices.
• Increasing trust: Crown Agents Bank’s B Corp certification enhances credibility and trustworthiness among partners and collaborators that they’re engaging with a company that shares aligned values.
• Importance in meeting regulatory requirements: B Corp aligns Crown Agents Bank with evolving regulations that demand greater transparency and sustainability in business operations.

“As a purpose-driven organisation, achieving B Corp is a huge milestone for the business. B Corp certification is a leading indicator of trust, transparency, and accountability, which is critical for any business, but particularly for a bank working in some of the most demanding markets around the world,” said Bhairav Trivedi, CEO at Crown Agents Bank. “Being part of a listed entity further amplifies the significance of B Corp certification, as it highlights our commitment to sustainable and responsible business practices to our shareholders, investors, and the wider public.”

“Social impact is one of Crown Agents Bank’s key driving forces and is ingrained in everything we do,” said Charlie Bronks, Head of ESG at Crown Agents Bank. “As part of a global community of like-minded businesses, Crown Agents Bank is making a positive impact on society and the environment, while attracting clients and employees who share our passion for doing good. Becoming a certified B Corp is a testament to our commitment to ESG, our desire to hold ourselves to account, our ambition to do good, rather than simply pay lip service.”  

“However, the work doesn’t stop here. Moving forward, we’re focused on continuous improvement in all areas of our operations, ensuring that B Corp remains tightly integrated and evolves within our broader ESG strategy,” concluded Bronks. 

Guided by its values, Crown Agents Bank integrates ESG risks and strategic goals into everything it does. In 2022 and 2023, the bank was awarded the Gold Sustainability Rating by EcoVadis and ranked within the top 94% percentile of 94,000 companies assessed across 160 countries and over 200+ industries. Crown Agents Bank is also dedicated to several mission-driven economic communities. This includes the World Economic Forum New Champions, a community which brings like-minded enterprises to tackle global economic challenges.