BDC recertifies as a B Corp for the third time

Certification reaffirms BDC’s unwavering commitment to creating greater economic, social, and environmental value for Canada and its entrepreneurs

Montreal QC, May 24, 2022 – BDC, the bank for Canadian entrepreneurs, is pleased to announce that is has met the rigorous requirements for recertification as a B Corp, achieving a score of 93.9. B Corporations are recognized as a force for good, meeting high standards of social and environmental performance, accountability, and transparency. BDC was named Best for the World™ for its governance in 2021, having achieved a top score in overall mission, ethics, accountability and transparency. B Lab also recognized BDC’s exceptional practices in areas such as diversity, equity and inclusion as well as health and wellness.

BDC first received the B Corp certification in 2013 – the first financial institution in Canada to do so. The B Corp global community includes nearly 5,000 businesses in 77 countries and 153 industries.

“We believe that by partnering with entrepreneurs and supporting their dreams of a better Canada, we can help move the dial when it comes to economic development that is inclusive and sustainable,” says Sandra Odendahl, Senior Vice President and Head, Sustainability and Diversity of BDC. “By contributing to the global B Corp movement, we are supporting and growing a community of Canadian businesses that are sustainability leaders.”

BDC is the B Corp movement’s national partner in Canada and presents the B Impact Assessment – the world’s most widely used ESG tool for entrepreneurs – to thousands of business owners each year. It does so via events and workshops, such as B Corp 101 and Getting to 80.

“BDC has been integral to the advancement of the B Corp movement in Canada,” said Jorge Fontanez, CEO of B Lab U.S. and Canada. “We recognize BDC as an organization that leads by example. BDC demonstrates the work required to shift to regenerative and equitable business practices, in order to benefit all people and the planet. We look forward to continuing our partnership with BDC to expand our reach and impact in the country.”

The Bank supports 72,000 entrepreneurs who create more than one million jobs in Canada. BDC believes in active inclusion and is aiming to increase the number of Indigenous, Black, women, and other diverse or underrepresented entrepreneurs in Canada, for example, through its Indigenous Growth Fund and Women in Technology Venture Fund, as well as the Black Entrepreneurship Loan Fund.

BDC has committed to help Canada reach its 2030 and 2050 decarbonization targets. The Bank has also committed more than $1.2 billion to sustainability-linked projects, including $600M for its Cleantech Practice – one of largest, most active cleantech investors in Canada. BDC supports the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), is a founding member of OECD’s Platform on Financing SMEs for Sustainability and joined the Partnership for Carbon Accounting Financials (PCAF) in 2021. BDC will be carbon neutral in its operations by 2025.

BDC’s case study is available on B Lab’s website. More information on its certification and many sustainability and ESG initiatives can be found at bdc.ca.

About BDC

As Canada’s development bank, BDC is a partner of choice for all entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Our investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the country’s most innovative firms. We are one of Canada’s Top 100 Employers and Canada’s Best Diversity Employers. For more information on BDC’s products and services and to consult free tools, templates and articles, visit bdc.ca or join BDC on social media.

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