MicroVest Capital Management Earns B Corp Certification
Joins a growing community of for-profit companies committed to using business as a force for good
BETHESDA, Md., Aug. 25, 2020 /PRNewswire/ -- MicroVest, an emerging markets-focused impact investment manager, today announced that it has earned a B Corp Certification from the nonprofit B Lab with an overall B Impact score of 103.2 — eight points above the overall median score awarded. MicroVest joins a growing community of more than 3,400 corporations from 150+ industries across 70 countries that have met the highest verified standards of social and environmental performance, transparency, and accountability.
Companies that undergo B Corp certification are subject to rigorous third-party evaluation of performance across the following five areas: governance, workers, customers, community, and the environment. They must also meet transparency, accountability, and legal requirements that support a commitment to stakeholder impact for the long term.
As a pioneer of the impact investing movement, MicroVest has long considered social responsibility as a key foundation of its business. MicroVest strives to deliver measurable social impact that advances economic development, facilitates financial inclusion, promotes gender equality, and reduces poverty.
"To achieve the impact that we desire across our business, we hold our portfolio companies to high standards for social responsibility," said MicroVest CEO Gil Crawford. "Therefore, it is only sensible that we pursue a Certification that holds the organization to the same level of scrutiny. Certification for us sets a positive example and emphasizes MicroVest's commitment to promoting a healthy, vibrant, and ethical financial sector in the markets where we invest."
Ron Cordes, Co-founder of the Cordes Foundation and Chair of MicroVest's Board of Directors commented: "This designation not only codifies MicroVest's identity as an impact investor making purposeful investments, but also reaffirms a long-term commitment to the company's stakeholders. I am proud that the yearlong process which began with MicroVest's conversion to a statutory public benefit LLC concluded with successful Certification."
About MicroVest
MicroVest is an asset manager that specializes in allocating private debt capital to Responsible Financial Institutions (RFIs) in emerging and frontier markets. As one of the first U.S.-based microfinance investors, the company has built a track record since 2003 of investing in microfinance institutions and small and medium enterprise financial institutions whose interests are aligned with the borrowers and communities they serve. Since its founding, MicroVest has disbursed more than $1 billion to over 200 RFIs in more than 60 emerging and frontier countries.
About B Lab™
B Lab is a nonprofit that serves a global movement of people using business as a force for good™. Their initiatives include B Corp Certification, administration of the B Impact Management programs, and advocacy for governance structures like the benefit corporation. B Lab's vision is of an inclusive and sustainable economy that creates a shared prosperity for all.
SOURCE MicroVest Capital Management
Share this article