Kreston Reeves receives B Corp status

Accountants, business and wealth advisers Kreston Reeves has announced that it has achieved B Corp status.

The firm said that “the demonstration of the firm’s commitment to being a sustainable and socially conscious adviser” helped it achieve the accreditation.

There are over 6,000 certified B Corps across 159 industry sectors in 89 countries, according to B Lab UK.

The B Corp status is given to businesses who undertake a rigorous and independently verified assessment that encompasses an organisation’s entire social and environmental performance, from supply chain and input materials to charitable giving and employee benefits.

A score of 80 or more in that assessment is needed, with Kreston Reeves achieving 80.6 in its first certification.

The firm will be required to meet high standards of social and environmental performance, transparency and accountability with recertification every three years.

Kreston Reeves has a turnover of £40m with a team of 500 “experienced” staff across its offices in Kent, Sussex and London.

Its clients include “ambitious” and scale-up businesses, charities and not for profits, and individuals and their families.

The company claimed that It is “one of the largest accountancy firms” to achieve B Corp status.

Andrew Griggs, senior partner at Kreston Reeves, said: “This is a significant achievement for the firm and a milestone in our journey of being a purpose-led advisory firm. It is a formal recognition of the efforts we continue to make to have a positive impact on clients, our people and the communities in which we work.”

Jennifer Williamson, a partner at Kreston Reeves who it said has been “instrumental” in the firm’s accreditation added: “We are part of a global movement that recognises the need to balance profits with purpose. The firm has a clear purpose – to guide our clients, colleagues and communities to a brighter future – and B Corp status puts this into an independently verified framework.

“It stands Kreston Reeves apart from its peers, demonstrating to current and future staff and clients that we are a firm that chooses to do the right thing.”

Chris Turner, executive director of B Lab UK, said: “We are delighted to welcome Kreston Reeves 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 Kreston Reeves is going to be a fantastic addition to the community and will continue driving the conversation forward.”

“…Welcoming Kreston Reeves is an exciting moment because they have an opportunity to lead the way within the accountancy industry. We and the rest of the B Corp community are really pleased to support Kreston Reeves in paving the way for a new way of doing things.”