Simpsons Malt Limited is delighted to announce that it has achieved B Corporation® (or B CorpTM) status, joining a growing group of companies reinventing business by pursuing purpose as well as profit.
The fifth-generation, family-owned company, which comprises a malting division (Simpsons Malt) and merchanting division (McCreath Simpson & Prentice), has been certified by B Lab®, the not-for-profit organisation behind the B Corp movement, as having met rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit.
The B Corp certification addresses the entirety of a business’ operations and covers five key impact areas of Governance, Workers, Community, Environment and Customers. The certification process is rigorous, with applicants required to reach a benchmark score of more than 80, while providing evidence of socially and environmentally responsible practices relating to energy supplies, waste and water use, worker compensation, diversity and corporate transparency. To complete the certification, Simpsons Malt Limited has legally embedded its commitment to purpose beyond profit in its articles of association.
With a B Impact Score of 89.6, Simpsons Malt Limited is believed to be only the second malting company in the world – and first in Europe – to have achieved B Corp status.
Simpsons Malt Limited is now part of a community of 4,000 businesses globally who have certified as a B Corp. The B Corp community in the UK, representing a broad cross-section of industries and sizes, comprises more than 400 companies, including well-known brands such as The Guardian, innocent, The Body Shop and Brewgooder.
Richard Simpson, Vice Chairman of Simpsons Malt Limited, said: “Following a long and rigorous assessment process, we’re absolutely thrilled to have received confirmation of our B Corp status.
“At the heart of our collective ambition is to sustainably grow our family business for future generations and the five impact areas of the B Corp assessment framework, comprising Governance, Workers, Community, Environment and Customers, gives us the ideal platform to be able to do that.
“We’re very proud to be a part of the growing B Corp community and will endeavour to keep improving our B Impact Score upon each reassessment to highlight a continued commitment to purpose over profit.”
Chris Turner, Executive Director of B Lab UK, said: “We are delighted to welcome Simpsons Malt Limited to the B Corp community. This is a movement of companies who are committed to changing how business operates and believe business really can be a force for good.
“We know that Simpsons Malt Limited are going to be a fantastic addition to the community and will continue driving the conversation forward.”