26 September 2022
The Portman Estate is the first estate to become B Corp™ certified, joining the global movement of trailblazing businesses who meet the highest standards of corporate social responsibility and make a positive contribution to people, communities and the environment.
B Corp certification is a reflection of our prestigious 500-year stewardship of Marylebone, which has centered on taking a long-term, forward-looking view for the future benefit of all stakeholders, customers and partners. Through innovation and collaboration with tenants, residents and the broader community, the Estate has developed and diversified to create a destination which is distinctive, varied and vibrant whilst safeguarding the history, architecture and heritage of the area.
To become B Corp certified, the Estate demonstrated excellent levels of social and environmental performance, made a legal commitment to become accountable to all stakeholders and displayed transparency by listing its performance against B Lab™ standards publicly on the B Corp Directory.
The rigorous standards set by B Corp also commit the Estate to a future of positive social and environmental action. Certified B Corporations are reassessed every three years against evolving standards, meaning the Estate must sustain the highest levels of corporate social responsibility. The Portman Estate now joins over 5000 global B Corps.
Chris Turner, Executive Director of B Corp, says: “We congratulate The Portman Estate on becoming a Certified B Corporation. The certification process is rigorous, with applicants required to reach a benchmark score of over 80 while providing evidence of socially and environmentally responsible practices relating to energy supplies, waste and water use, worker compensation, diversity and corporate transparency.
Being able to welcome The Portman Estate to our global community of over 5,000 B Corps is hugely exciting, boosting a community of leaders working collectively for economic systems change. By committing to continuous improvement, transparency and going through the recertification process every three years, The Portman Estate is actively contributing to a movement creating a more inclusive, equitable and regenerative economy”.
Showcasing the Estate’s role as a conscious and caring landowner, the assessment of ‘Workers’ was an area of the certification where we excelled, scoring exceptionally in indicators that assessed the wellness, career development and satisfaction of its employees, underlining our dedication to empowering people.
Our performance in these categories is exemplified by The One Planet Living framework that prioritises people, from employees to visitors, occupiers and residents. Programmes including the Diversity and Inclusion Working Group and a New Parent’s Leave Policy demonstrate a long-term commitment to investing in employees.
The Estate has made, and is taking steps, to ensure a positive impact on the planet. We have been working with Bioregional since 2019, and earlier this year published a new Sustainability Action Plan which sets out goals and targets for the next three years, aligned to Bioregional’s One Planet Living framework. This includes a commitment to deliver net zero carbon status by 2040.
Katie Balderson, Corporate Director at The Portman Estate, says: “We are proud to be leading the way for London’s great estates. Our journey to achieving B Corp Certification has taken two years and is only the start of a longer journey for us. B Corp represents the next chapter for socially responsible businesses and achieving certification underlines so much of what we stand for and do as an organisation.
People are at the heart of what we do, so we are immensely proud that B Corp certification has recognised our efforts to prioritise our workers and customers. It is fundamental that we provide our employees with an environment to grow both professionally and personally. We plan to use this achievement to demonstrate how property owners can work collaboratively to benefit all of our customers, employees, partners and the local community.”
