HCP Distinguished As Certified B Corporation
Stockholm (HedgeNordic) – Helsinki Capital Partners (HCP), the Finnish global asset management firm, has become the first Finnish company to be distinguished by the B Corp Certification, a measure awarded to enterprises meeting the most rigorous standards of social and environmental performance. HCP manages three funds – HCP Black, a multi-strategy fund, HCP Focus, a concentrated global long-only equity fund, and HCP Quant, a long-only equity fund focusing on SMEs.
Certified B Corporations are issued by B Lab, a non-profit organization that serves a global movement to redefine the meaning of success in business so as to encourage companies to compete not only to be among the best in the world, but for the world’s best. Certified B Corporations are awarded through a rigorous company evaluation that determine qualifying measures such as a strong corporate and social responsibility (CSR) company cultures and their expansion to include stakeholder interest.
To this end, HCP meets the B Corp profile to perfection. Established 10 years ago in Helsinki, HCP’s mission statement from the beginning has been to be an open and honest asset manager with a profound commitment to transparency across all levels, with CSR “programmed into the DNA of company culture from the outset”. This has included openly telling customers how much they pay both directly and indirectly for the services they receive through its fee-only policy, and fostering cooperation with stakeholders to determine shared values with HCP employees.
HCP also has the unique distinction of being an asset manager that considers artists and athletes among its stakeholders, alongside private investors and institutions. Collaboration with artists contributes to defining the socially responsible relationship of the company to its social surroundings; in the case of athletes, HCP takes into account aspects specific to their career and season. Collaborative cultural initiatives such as these, the company believes, contribute in turn to balancing responsible investment with business stability and sound strategy. HCP employs a cultural centre for its HQ and a tour bus as a mobile office.
“It’s the 10th anniversary of Helsinki Capital Partners, so this is definitely a year for celebration,” Tommi Kemppainen, HCP CEO said in a joint press release with B Lab. “Becoming a B Corp confirms that we’re heading to the right direction as a mission-based business. We operate in an industry that many think is rotten, so this isn’t the easiest arena in which to gain people’s trust. Through the B Corp status, we think that we have even more tools to continue redefining the financial sector and the business world.”
Mr Kemppainen reinforced these points in an interview with HedgeNordic/NordSIP (forthcoming), in which he explained how changing perceptions of the financial system can only be achieved by changing how the system itself functions from within. At HCP, for example, 86% of employees own a part of the company, and when salaries are raised, they are raised by the same amount for every employee. It is time to stop thinking of such solidarity “as a hippie impulse, but rather as common sense,” Mr Kemppainen said.
“We’re thrilled to have a leader like Helsinki Capital Partners join the ranks of Certified B Corporations,” Nathan Gilbert, co-executive director of B Lab Europe, added. “Helsinki Capital Partners brings a unique opportunity to build awareness of the B Corp movement within Finland and create bridges between the many leading sustainable businesses there and the B Corps across the globe. We look forward to working with Helsinki Capital Partners to inspire other businesses to join on this journey.”
There are over 2,000 Certified B Corporations from over 130 industries and 50 countries as of May 2017.