Farad Group has been appointed as the first B-Corp insurance and financial group in Luxembourg, confirming its commitment in sustainability.
Farad Group, independent international group specialised in providing B2B services in the insurance and financial sector through a proprietary multi-services platform, opens 2017 with an important international recognition: the certification B-Corporation that ranks Farad Group among the leading companies for its standard of environmental, social and corporate governance (ESG).
Founded in 2001, Farad Group has always distinguished itself for its unique approach to sustainability, by donating part of the profits to philanthropic activities and by paying particular attention to business sustainability criteria. Over time, this approach has also been expressed through financial products with the launch of the first AIFMD platform dedicated to impact investing (European impact investing platform Sicav-SIF) and of two new funds adopting SRI/ESG strategies, which are managed in-house and are currently in process of approval by the regulator.
With this recognition powered by B-Lab, an international non-profit organisation that believes in using business as a force for good TM, Farad Group becomes the second B-Corporation in Luxembourg and a pioneer in the world of sustainability with regards to the European financial and insurance sector.
“We believe that, now more than ever, the financial industry cannot possibly only look at short-term benefits and the maximisation of profit, without paying attention to the paths that lead to the result,” says Marco Caldana, president and founder of Farad Group. “Our group strongly believes in sustainability and in the ability of financial instruments to finance projects that contribute to solving the most pressing challenges for the environment and society. We are proud – continues Caldana – to have received this important certification, an acknowledgment of our responsibility and transparency, and years of work towards high standards of social and environmental performance.”