Recycling and waste management company, Recycling Lives, has announced that it has achieved coveted B Corporation (B Corp) certification.
The UK firm head-quartered in Preston was founded on the principles of creating social value in 2008, and has since expanded this to deliver environmental innovation and strong commercial offerings, with ESG as a fully embedded business ethos.
The accreditation recognises the company’s commitment to delivering positive social impact, driving a sustainable circular economy and making its operations greener year on year.
Known as the ‘gold standard’ for sustainability, B Corporations are required to meet rigorous social and environmental standards which cover five key impact areas: environment, governance, workers, community and customers.
Recycling Lives scored an impressive 137.9 within the company’s impact assessment – exceeding the necessary qualifying score of 80 and putting it amongst the top performing B Corps globally.
Across each B Corp impact area, Recycling Lives achieved a significantly higher score than the benchmarks suggested for the Country, for its Sector and for businesses of its Size Range. Notably, for impact on Environment, Recycling Lives exceeded the sector benchmark score by 129%, and in Governance by over 117%.
The successful score was driven by the company’s holistic approach to people, planet and business, demonstrated in its commitment to the highest levels of environmental performance and its work with disadvantaged groups and ex-offenders. Such work is a strong reflection of B Corp’s mission to “use business as a force for good”.
By certifying as a B Corp, Recycling Lives takes another major step forward in its sustainability journey, displaying long-term commitment to formalising ethical performance and practices across the business – while identifying new areas of improvement. The company will be reassessed every three years across all categories in order to retain the certification.
Gerry Marshall, CEO of Recycling Lives, said: “It has always been hugely important that we make a genuine, positive difference on both a social and environmental basis – it’s the reason we exist. Through our unique business model, we are driving transformational change and growing a business where people, the planet and profits all go hand in hand.
“The B Corp process is an incredibly demanding and highly individual assessment, and this certification is a fantastic result of our purpose and beliefs. However, whilst we’re immensely proud to be recognised, this is just a step on our journey in making further progress toward our sustainability targets, whilst delivering meaningful opportunities across schools, colleges, the justice system, and disadvantaged groups.
“Above all, we’ll continue to strive to do good business by looking at how we can improve and grow in every aspect of the work we do, for the future of our people and our planet.”
Stefanie Kneer, Head of ESG & Sustainability at Three Hills Capital Partners (Recycling Lives Investor Board), said: “B Corp is one of the most relevant international social and environmental accreditations. We at Three Hills Capital Partners are proud that Recycling Lives has achieved such a significant milestone this year. With this step the business affirms its mission to be a force for good, giving materials as well as people a second chance, and cementing its thought leadership in the industry. For investors and advisors alike, it sends a strong signal that there has been real focus on positive value creation, adhering to or surpassing some of the highest ESG standards.”