Virgin Money launches self-certification scheme for sustainable businesses

SME Banking
08/02/2024 News

Virgin Money is pioneering sustainability in the business sector with a new self-certification scheme, developed in collaboration with the Future-Fit Foundation. This initiative, integrated into the Sustainable Business Coach app, assists businesses in demonstrating their commitment to sustainability while providing practical guidance to achieve their environmental and social objectives.

The Future-Fit Engaged self-certification scheme is a first-of-its-kind initiative in banking, enabling businesses to define their environmental and social goals, make informed decisions, and demonstrate progress to stakeholders. The process involves registering for and completing the Sustainable Business Coach, taking action on high-priority goals, appointing a business owner to oversee progress, discussing progress at a senior management meeting, and setting a date for reviewing and reporting progress.

Upon completion, businesses receive their Future-Fit Engaged self-certification, symbolizing their dedication to sustainability. They can showcase this certification alongside other recognized businesses on the Future-Fit website.

Scott McFarlane, sustainability lead for business banking at Virgin Money, emphasized the importance of businesses prioritizing environmental, social, and governance (ESG) practices. He highlighted the self-certification tool as a valuable resource for SMEs to educate themselves on sustainable operations and make tangible progress toward sustainability goals.

Martin Rich, CEO & Co-founder of Future-Fit Foundation, commended Virgin Money for its dedication to fostering regenerative businesses. He expressed enthusiasm for deepening the partnership to support businesses in building a sustainable future.

Virgin Money's introduction of the self-certification scheme underscores its commitment to driving positive change in the business landscape, empowering businesses to embrace sustainability and contribute to a more resilient future.

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