B Corp certification is a designation for the social and environmental performance of a business that is meeting high standards of verified performance, accountability, and transparency on a range of factors — from employee benefits and charitable giving, to supply chain practices and input materials.

While B Corp accreditation is often referred to as the gold standard for positive sustainability- and social-oriented efforts, Par Equity — which focuses on growing startups across HealthTech, ClimateTech, and IndustrialTech — is one of only a few VC firms in the UK to secure this status.

Since the firm’s launch in 2008, the VC firm has continued to lead by example in this area, having helped launch ESG VC — a pan-European project to improve the ESG credentials of early-stage businesses.

The B Corp certification is further evidence of the direction that Par Equity is taking both internally and with its portfolio companies.

On the firm’s direction, Andrew Noble — who’s been a Partner at Par Equity since 2019, and has also previously served as both Associate and Director — said: “For years now, we have been investing in the next generation of businesses, in companies that can transform our future.

“Examples from our investment portfolio include Nova Pangaea Technologies, which is a world leader in developing sustainable aviation fuel; and Advanced Electric Machines which design and manufacture a range of sustainable electric traction motors that are far greener than other technologies and are fully recyclable.”

The VC firm has also been investing in commercial forestry since 2010, working with Scottish Woodlands. In December 2021, this expanded with the financing of the Glen Dye Moore project — a joint venture with Aviva and Scottish Woodlands to redevelop 15,700 acres of woodland and peatland, and is set to capture 1.4 million tons of CO2 in the process.

Lucy Kelly, Operations Manager at Par Equity, who led the 18-month project towards B Corp certification, added: “Obtaining B Corp certification is a long and stringent process. We are delighted to have attained the required standard, and can now be recognised for this. It is an important foundation for the next stages in our growth as a business.”

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According to B Lab — the non-profit behind the B Corp certification framework — the UK is one of the fastest growing B Corp communities across the globe, with more B Corps than in the whole of mainland Europe.

Further, Scottish B Corps make up around 4.5% of the UK B Corp community, and represent 8.3% of the UK’s “Best for the World” honourees, who are recognised as top-performing companies in terms of generating positive social and environmental impact through their businesses.