Can Corporate Sustainability & Economic Growth Coexist?
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Submitted by: Wasmer, Schroeder & Company
Posted: Jan 02, 2013 – 01:00 PM EST
NAPLES, Fla., Jan. 02 /CSRwire/ - Wasmer, Schroeder & Company today announced that they have become a Certified B Corporation, making it the first investment firm in Florida and the first fixed income manager of separately managed accounts (SMAs) to achieve B Corporation status.
Joining over 530 other Certified B Corporations from 60 industries, B Corporations build a collective voice for corporate social and environmental responsibility through the power of the unifying B Corporation brand. Unlike traditional corporations, B Corporation must meet higher standards of social and environmental performance, transparency and accountability. Over the long term, this will lead to a legally recognized new corporate form (like a C Corp or an S Corp) and tax incentives, procurement preferences, and a social stock exchange for sustainable businesses.
“We are pleased to have received the B Corporation certification and proud to be the first manager of separately managed accounts to receive this certification,” commented Michael Schroeder, President & Chief Investment Officer of WSC. “Similar to our GIPS® verification and the creation of our Socially Responsible taxable and tax exempt fixed income strategies, being certified as a B Corporation demonstrates WSC’s commitment to verified and transparent performance.”
About B Corporations
Certified B Corporations 1) meet rigorous standards of social and environmental performance; 2) legally expand their corporate responsibilities to include consideration of stakeholder interests; and 3) build collective voice through the power of the unifying B Corporation brand. As of May 2012, there are over 600 Certified B Corporations from over 60 industries, representing a diverse multi-billion marketplace.
About B Lab
B Lab is a nonprofit organization dedicated to using the power of business to solve social and environmental problems. B Lab drives systemic change through three interrelated initiatives: 1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between “good companies” and just good marketing; 2) accelerating the growth of the impact investing asset class through use of B Lab’s GIIRS impact rating system by institutional investors; and 3) promoting supportive public policies, including creation of a new corporate form and tax, procurement, and investment incentives for sustainable business.
About Wasmer, Schroeder & Company, Inc.
Wasmer, Schroeder & Company, Inc. (WSC) is an independent and employee-owned Florida S‐Corp. WSC was incorporated in 1987 and registered as an investment advisor on July 29, 1988 with the U.S. Securities and Exchange Commission. The Firm’s corporate headquarters are in Naples, Florida, where the tax exempt Portfolio Management team, Client Services, Operations, IT, Accounting, Compliance, Marketing and Administration reside; our taxable Portfolio Management team is located in Cleveland, Ohio; and Client Relationship offices in Exton (Philadelphia area), Pennsylvania and Portland, Oregon. Specializing in fixed income separate account portfolio management for high net worth individuals, wealth management groups and institutions, including foundations, endowments and retirement plans, WSC has $4.40 billion in assets under management, as of 09/30/12. The Firm works with clients and their advisors to provide taxable and tax exempt fixed income portfolio solutions to meet their needs.