Good things are happening in British business
Find out how some of our customers have evolved their businesses in innovative ways.
Read time: 8 mins Added: 17/05/2023
Sarah Pollard: “We have taken the bold decision to commit to certifying all our business units as B Corps by 2026 as we believe that long-term, sustainable growth depends on continuing to benefit broader society and the communities in which we live and work.
Achieving B Corp certification proves that our business goes beyond product or service-level certification. Both retailers and customers increasingly look to purchase brands that have achieved this standard, and it is a high mark of trust for companies with proven sustainability credentials. Investors are also increasingly focusing on ESG measures, driven by a desire to invest sustainably and responsibly.”
Sarah Pollard: “We believe that embedding our boldest sustainability targets – achieving B Corp certification and reducing virgin plastic packaging and carbon emissions – into our financing structures demonstrates our commitment. So that’s exactly what we tasked our banks with doing.”
Jennifer Burrett: “PZ Cussons were refinancing their existing facility and specifically, wanted to embed their ambitious targets to this facility. So, as Sole ESG coordinator, we worked with the company to create their sustainability-linked loan (SLL) proposal.
PZ Cussons is the first company that we have worked with to include a B Corp certification KPI for an SLL. We prepared the Sustainability Lender presentation for the syndicate alongside the company, and then liaised with the banks to answer any queries. We then helped to translate the SLL proposal into the loan documentation.”
Sarah Pollard: “The proceeds will be used for general corporate purposes and to fund opportunities as we move to the next phase of our journey – moving from turnaround to transformation. But the SLL is also an important signal about the direction the company is taking. We have already made a lot of progress and our ‘Better For All’ framework is more ambitious still. But this is just the start of a journey for PZ Cussons; we intend to build on our ESG targets and continue to evolve our strategy.”