i(x) Net Zero PLC said its portfolio company, MultiGreen Properties, a real estate development firm “dedicated to the building of attainable, sustainable and technology-enabled” housing has become a Certified B Corporation.
The investment company focused on energy transition and sustainability said in a statement that Certified B Corporations businesses, also known as B Corp, "meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose”.
The accreditation is granted by B Lab, a global non-profit, with the B Corp certification measuring a company’s entire social and environmental performance.
“It aims to redefine success beyond purely financial returns, to be more inclusive, balancing profit with purpose,” the statement said.
"MultiGreen is creating economic growth and catalytic social impact in supply-constrained housing markets,” said Steve Oyer, chief executive of i(x) Net Zero.
“The B Corp status accreditation is further proof that MultiGreen is operating to the highest sustainability standards with due consideration being given to all of its stakeholders.”
i(x) Net Zero said it also welcomes the passing of the Inflation Reduction Act of 2022 in the US which aims to tackle climate change.
The legislation allocates roughly US$369bn towards reducing greenhouse gas emissions and incentives for production and use of clean domestic energy, the company noted.