BKL becomes first major accountancy B Corp
The firm is now the largest in its sector to achieve this status
BKL has become the largest UK accountancy firm to-date to attain B Corporation status.
Following its application in July 2021, the Finchley-based firm has now become the first listed in Accountancy Age’s 50+50 ranking to achieve the feat.
According to BKL, the process of applying to become a B Corp enabled it to “better understand its ESG responsibilities”.
“As professional advisers, we understand our responsibility to guide other businesses in doing the right thing,” Myfanwy Neville, the firm’s head of ESG, said.
“We hope that many more businesses of all sizes, in our sector and beyond, will explore the benefits of joining the global B Corp movement for an inclusive, equitable and regenerative economy.”
B Corp Certification is a designation that a business is meeting high standards in areas such as sustainability and charitability.
According to accrediting body B Lab Global, a B Corp candidate must demonstrate high social and environmental performance, make a legal commitment, and exhibit transparency.
“Welcoming BKL is an exciting moment because they have an opportunity to lead the way within the UK accounting sector.
“We and the rest of the B Corp community are really pleased to support BKL in paving the way for a new way of doing things.”
In addition to receiving B Corp accreditation, BKL has also been recognised as an ‘Impact Business Model’.
Described by B Lab Global as a “difficult” feat to achieve, this is an acknowledgement that a business creates a specific positive benefit for a stakeholder.
Resources & Whitepapers
Accounting Software The power of customisation in accounting systems
For Emmeline Skelton, head of sustainability at the Association for Chartered Certified Accountants, these accomplishments by BKL demonstrate a commitment to the growing consensus on ESG.
“It’s good news that a 50+50 accountancy firm in the UK has become a certified B Corp. It shows a serious intent to become accountable for their environment and social impact.
“The whole point is moving from a traditional business to being accountable to stakeholders and integrating social and environmental factors into decision-making.”
Skelton also acknowledged the “tough” vetting process for B Corp status, noting that it demonstrates a “serious and accountable” outlook.
However, BKL managing parnter Lee Brook argues that this isn’t “job done” for the firm, and that measures must continue to be taken to ensure sustainability and accountability.
“It’s part of our journey as a sustainable, inclusive and growing business and means that we are continually improving and being held accountable against some very high standards.”
BKL also says that it has reached this “milestone” sooner than expected, having originally aimed for B Corp certification by 2026.