General Projects awarded B Corp certification as highest scoring real estate developer in the UK
London-based creative real estate developer, General Projects, has today announced its certification of B Corp status, with an impressive rating of 122.6. This is the highest score of any UK real estate developer and marks General Projects’ commitment to balancing profit with purpose.
The median average B Impact Assessment score achieved by a business is 51, with a minimum score of 80 required to become B Corp certified. With an impressive score of 122.6 General Projects scored 26 per cent higher than the UK company average of 97 points.
The rigorous and lengthy assessment process covers five key areas: Governance, Workers, Community, Environment and Customers.
Some of the notable elements of General Projects’ submission includes their Community Wealth Building programme, a pioneering initiative that has seen over £10m of social impact delivered to local communities around their buildings over the past 24 months.
This has been generated through on site mentoring and incubator programmes, apprenticeship schemes, free start-up workspace opportunities and affordable studio provisions.
As part of the B Corp process, General Projects has committed to achieving net carbon zero on its portfolio by 2030, with a number of current development projects set to achieve this by 2024.
General Projects CEO Jacob Loftus said, “our business has always committed to proving that profit and purpose, when considered holistically, can create more value for everyone involved, so applying for B Corp accreditation felt a natural fit for us.”
General Projects joins FORE, Igloo Regeneration, Joseph Homes, MAPP, and Newcore Capital as a select few UK real estate developers to achieve B Corp status.
The team is currently converting a former MI5 bunker, restoring a fire-ravaged Grade II listed town hall, and reinventing the former Woolworths HQ and the Heals Department Store into iconic new buildings.
Through its General-Purpose division, the company has also delivered ‘a new benchmark’ in how social value can be created through the development process, with over £10m of social value create through apprenticeships, mentoring programmes and affordable workspace delivered at their projects.
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning London email for free.