Wealth Manager Recertifies as B Corp, Names Chief Nature Officer

Bank Lombard Odier & Co, the Geneva-based international wealth and asset manager, with operations across Asia, said its B Corp status has been reaffirmed by B Lab, the non-profit responsible for certifying B Corps.

In a statement, the financial group said the recertification process also saw the private wealth manager improve its overall score from 98 to 111.

Lombard Odier was the first global wealth and asset manager to achieve B Corp Certification in March 2019, with an impact score of 98 points.

Since its initial certification, the financial firm has integrated the results of its “B Impact Assessment” into the business’ sustainability strategy and taken measures to achieve tangible results across the five B Corp impact areas: Governance; Workers; Community; Environment and Customers.

B Corp Certification demonstrates that a business is meeting high standards of verified performance, accountability and transparency. Becoming a B Corp involves a rigorous assessment of a company’s environmental and social performance, as well as its governance.

Companies must achieve a minimum score of 80 points and meet B Lab’s risk and disclosure standards. The certification measures how companies manage their people, environmental footprint, products, suppliers and the communities with whom they interact.

Ebba Lepage, Group Head of Corporate Sustainability at Lombard Odier said: “Becoming a B Corp is testament to the strong emphasis Lombard Odier places on sustainability, which has been at the heart of our investment approach and corporate strategy for over 220 years. We are delighted to have been recertified, evidencing our continued commitment to meeting high standards of social and environmental impact, as well as ensuring that we continue to evolve and improve for the benefit of our company, clients and future generations.”

Meanwhile, the asset management unit of the group Lombard Odier Investment Managers (LOIMs), has appointed Dr Marc Palahi as Chief Nature Officer. The appointment is part of the Group’s move to strengthen its sustainability expertise and capabilities.

Palahi is an expert in forests, circular bioeconomy and climate change. He has led scientific initiatives for over twenty years, including as Director of the European Forest Institute.

In his new role, he will be responsible for further developing LOIMs nature-focused strategy within the company’s sustainable investing platform holistiQ.