NorthStar Asset Management Announces Certification as B Corporation
FOR IMMEDIATE RELEASE
Boston, MA – NorthStar Asset Management, Inc., a Boston-based socially responsible investment firm, announced today that it has become a Certified B Corporation™ (B Corp) through B Lab, a nonprofit organization that empowers “a global movement of people using business as a force for good.” TM
Unlike traditional corporations, Certified B Corporations are legally required to consider the impact of their decisions, not only on their shareholders, but also on their stakeholders (such as employees, suppliers, local communities, consumers, and the environment). “We consider it a fiduciary duty to engage with the companies in which we invest to improve the company’s standing on such issues as human rights, the environment, diversity, employee relations, immigration, and LGBT equality, so becoming a certified B Corp to solidify our commitments was a natural next step,” explained CEO Julie Goodridge.
B Corps are important because they inspire all businesses to compete not only to be the best in the world, but to be the best for the world. NorthStar was founded in 1990 specifically for socially responsible investing with the focus on race & gender, income & wealth inequality, human rights, and the environment. In its 25 years, the firm has filed over 125 shareholder proposals, leading to victories such as extending benefits to domestic partners, encouraging responsible corporate political contributions, the adoption of a policy on the human right to water, and concrete commitments by corporations to increase gender, racial, and ethnic diversity on the board and in senior management.
“We hope that our work and our commitment to B Corp will further extend B Lab’s reach, encouraging more companies to consider how they can change the world, not just inflate their bottom line” remarked Goodridge.
NorthStar Asset Management, Inc. is a wealth management company based in Boston with a focus on socially responsible investing. At NorthStar, creative shareholder engagement is a positive force for change.
Contact: Julie Goodridge
NorthStar Asset Management, Inc.