Becoming a B Corporation

corporate

Becoming a B Corporation

We’re the first global wealth and asset manager to join this international community of certified B Corporations. What does this mean? What are the commitments? Bertrand Gacon, Head of Corporate Sustainability, explains in five key points.

 

 

Why did the Lombard Odier Group decide to embark on B Corp certification?

It is a process that we had been thinking about for several years. I sometimes say, we have the know-how, but we still have to make it known! The fact is that Lombard Odier has long integrated sustainability into its practices, whether at the level of the company itself, its sustainable investment offering or its impact on the community. The B Corp certification allows us to structure and validate our approach.

Lombard Odier has long integrated sustainability into its practices. The B Corp certification allows us to structure and validate our approach.

This certification has existed since 2006. Why now?

B Corp has now achieved international stature and recognition, which was an important criterion for us. We know that many people have legitimate questions about our company and how it is organised in terms of sustainability. Whether they are clients, partners, colleagues or potential new hires. Therefore, it has become very important for us to communicate our concrete sustainability measures and to take part in local and international initiatives that demonstrate this commitment, such as B Corp.

 

How does it work? What elements are assessed?

It is a truly comprehensive approach. In the area of sustainability, there are many labels and certifications for products and services. What's different about B Corp is that it evaluates a company as a whole using more than 200 criteria and it is internationally recognised. These criteria relate to our core business, wealth management, and also our HR policies, governance, suppliers, buildings, etc. We’re making a strong statement and a commitment to the future because we have integrated sustainability into the company policies. Moreover, we need to repeat this certification exercise every two years, with the objective of constantly improving our score.

We’re making a strong statement and a commitment to the future because we have integrated sustainability into the company policies.

What is Lombard Odier's positioning? Does the Group have a good rating?

The grades for each criterion are added up to produce a score out of 200, with each point having to be checked and proven. Companies need to score at least 80 to obtain B Corp certification. This may not seem very much, but the average for companies comparable to Lombard Odier that undergo this assessment is 67 points. So with 98 points, Lombard Odier is one of the top financial institutions involved in the B Corp movement. It intends to fully play its pioneering role with the aim of involving the entire industry in this approach.

With 98 points, Lombard Odier is one of the top financial institutions involved in the B Corp movement.

What's next?

This certification reflects our achievements and encourages us to improve even further. In 2019, we want to move up a gear and have launched new initiatives relating to our carbon footprint, waste reduction, diversity, the quality of our working environment and our community support. To report on our commitments, we will publish our first Corporate Sustainability report in 2020. The construction of our new head office in Bellevue, which will be the workplace for more than half of our employees in 2022, also represents another important step in our sustainability approach. The building has been designed according to the strictest environmental requirements and is part of an ambitious green mobility plan. It also incorporates numerous measures to offer our employees and visitors the best possible working and visiting conditions.

Important information

This document is issued by Bank Lombard Odier & Co Ltd or an entity of the Group (hereinafter “Lombard Odier”). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This document was not prepared by the Financial Research Department of Lombard Odier.

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