Bank Lombard Odier & Co, a Geneva-based international asset management company, announced that B Lab, the non-profit organization responsible for certifying B Corps, has reconfirmed its certification. During the recertification process Lombard Odier improved his overall score from 98 to 111.
Lombard Odier had been the first global wealth manager to achieve B Corp certification in March 2019, with a 98-point impact rating. After initial certification, Lombard Odier incorporated the results of its “B Impact Assessment” into its sustainability strategy and implemented initiatives to achieve tangible results in the B Corp’s five impact areas: Governance, Employees, Community, Environment and Customers.
B Corp certification demonstrates that a company has high standards of performance, accountability and proven transparency. The certification is issued to companies that pass rigorous environmental, social and corporate governance performance assessment criteria. Companies must score a minimum of 80 points and meet B Lab’s risk and disclosure requirements. The certification evaluates how companies manage various factors, such as employees, environmental footprint, products, suppliers and communities with which they interact.