Bonhôte Bank granted B Corp™ label, the world’s strictest CSR certification
Bonhôte Bank has been certified as a B Corp™ following a stringent assessment process that included a comprehensive review of its business activities, thereby acknowledging its long-standing dedication to CSR issues.
This certification was granted following a thorough analysis of the bank’s impact on customers, employees, the community and the environment. It recognises Bonhôte’s strong CSR (corporate social responsibility) performance and marks the first step in a process of continuous improvement.
Video: Bonhôte certified B Corp™
The certification process began in May 2020 and was performed by a team of eight bank employees. Cyril Lanfranchi, who leads Bonhôte’s sustainability drive, commented the following:
“The certification process included answering a questionnaire comprising more than 230 questions, from which we needed to score at least 80 points. The responses were analysed by several independent experts and interviews conducted to verify the truth of what we asserted. At the end of this process, the bank obtained certification with a score of 91.7 points. We also had to make adjustments to our articles of association and draw up a list of objectives to be met in the future, bearing in mind that re-certification will be in three years’ time.”
Reassessed every three years
The certification process was closely monitored by B Lab Switzerland, the NGO in charge of certification in this country. Jonathan Normand, Executive Director of B Lab Switzerland, had the following to say: “We’re very pleased to welcome Bonhôte Bank to the B Corp community. The role of banks in building a more resilient and sustainable economy is absolutely undeniable. Bonhôte has succeeded in connecting with this reality and factoring in the impact of its business activities on all stakeholders, not just clients but also civil society and the environment in the broadest sense. We congratulate Bonhôte on its certification and for its tangible commitment to being a force for good.”
The bank’s sustainable investment strategy was also analysed in detail. Launched in 2013, Bonhôte’s ESG service was subsequently expanded through the launch of the Impact fund and strategy in 2019. This investment model delivers a positive social and environmental impact by investing in sectors and themes that address major global challenges such as climate change, economic development in disadvantaged regions, efficient use of natural resources and access to health and education. The Impact strategy was assessed as part of the B Corp certification, along with the bank’s other sustainable finance commitments.