US-based organisation, B Labs is rapidly becoming a globally-recognised symbol of ethical business, with more and more businesses undergoing the vigorous process to become B Corp-certified. B Labs is working to expand its guidelines to include all types
of businesses, and will likely to continue to develop and improve on requirements as the global financial landscape evolves.
I went into detail on the B Corp certification process in a
previous long read.
Research indicates that Gen Z consumers are more compelled to engage with brands and companies that align with their own values, and that operate ethically. A major propellant of the
sustainable transition in the financial and banking sector is
Gen Z’s commitment to banking with those who are more environmentally-conscious.
Within financial services, there are several financial institutions based in Europe that are already B Corp certified:
- Charity Bank
B Impact Score: 134.4
Certified: December 2014
Charity Bank is a loans and savings bank operating since 2002. The bank works to drive social change through using its saver’s money to lend to charities and community organisations.
- Triodos Bank
B Impact Score: 131.3
Certified: March 2015
Netherlands-based Triodos Bank is a sustainable-first bank committed to environmental restoration and sustainable development. Triodos has set 2035 as a net zero target, and is solely focused on financing
green and social businesses and initiatives. Triodos was a sponsor for Finextra’s annual Sustainable Finance Live conference.
- Globalance Bank
B Impact Score: 111.9
Certified: October 2015
Swiss private bank Globalance is a wealth and capital management institution that platforms transparency and economic, societal, and environmental impact.
- Cambridge & Counties Bank
B Impact Score: 92.8
Certified: April 2023
Cambridge and Counties Bank is a UK-based bank that aims to bring together the values of a traditional bank with the efficiency and speed of a modern bank.
- Griffin
B Impact Score: 91.5
Certified: June 2024
Griffin is a Banking-as-a-Service platform and UK bank for fintech firms that offers an API-first approach to banking.
- Zero
B Impact Score: 88.5
Certified: July 2024
Zero is a Cardiff-based finance app and debit card that provides digital banking services. The sustainable money app that is aimed at promoting a green lifestyle
for Gen Z and Millennial users and reducing their environmental impact.
- Tomorrow
B Impact Score: 86.5
Certified: September 2020
Tomorrow is a German fintech firm offering a mobile banking account that exclusively finances sustainable and social initiatives, focusing on building a green financial ecosystem. The platform offers a sustainable
investment fund aligned with the Paris Agreement, called ‘Tomorrow Better Future Stocks’.
- NoFrixion Ltd
B Impact Score: 86.0
Certified: November 2023
NoFrixion is an Irish embedded finance fintech firm that operates throughout Europe. The fintech platform advocates building a sustainable and inclusive global economy.
- Caisse d'Epargne Normandie
B Impact Score: 83.3
Certified: March 2020
Caisse d'Epargne Normandie is a French bank that exclusively covers all of Normandy. The bank is dedicated to promoting financial education, social housing, and sustainable growth in the region.
- Coutts
B Impact Score: 83.2
Certified: July 2021
Coutts is a UK private bank and wealth manager founded in 1692, and is recognised as banking for the British royal family.