Private equity firm achieves B Corp status

Stephanie Wall, ESG director, Palatine

Private equity investor Palatine has been awarded B Corp certification, elevating its commitment to delivering sustainable business growth.

B Corporations (B Corps) are businesses that demonstrate the highest standards of social and environmental performance, transparency, and accountability through a rigorous assessment process.

Stephanie Wall, sustainability director at Palatine, said: “At Palatine we believe that when you do the right thing, with the right people, private equity is a force for good.

“We call that ‘positive equity’ and it underpins everything we do. It’s a belief that aligns with the aims of the B Corp community and so becoming accredited has been long term aspiration.”

B Corp certification is awarded to companies that are leaders in their commitment to ESG and responsible business practices.

There are around 800 certified B Corps in the UK – a number that is growing quickly – and more than 5,000 around the world.

Certification is administered by the non-profit B Lab and certified B Corps are reassessed every three years across all categories to retain the certification. It is viewed as a particularly demanding threshold for businesses to achieve.

Palatine has become recognised as a leader in the mid-market in sustainable business practices.

It has previously introduced a pioneering ESG framework internally and across its investment portfolio and raised a first-of-its-kind, returns-focused Impact Fund which backs businesses with a positive impact on society or the environment.

Gary Tipper, managing partner at Palatine, added: “Joining the B Corp community is another example of how Palatine is remaining at the forefront of sustainable investment across the mid-market.

“As a firm, we are committed to exploring new ways to enhance our value enhancement and ESG offering and to collaborate with other likeminded businesses.”

Palatine scored 111.3 out of a possible 200 in the B Impact Assessment, making it the fourth highest-scoring private equity firm in Europe to obtain the accreditation. The B Impact Assessment is a rigorous exercise that examines applicants across factors including governance, workers, community, environment and customers. Businesses need to score 80 or above to be accredited.

Palatine performed particularly well in the Governance category, with its score putting the firm well in contention of being included in B Corp’s 2023 Best for the World list, based on the benchmark score for inclusion from last year.

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