Beam Money announced last week that it has received their GIIRS Impact Rating (giirs.org), joining an elite group of social entrepreneurs and sustainable businesses around the globe to become one of the first companies to receive a GIIRS Impact Rating.
Beam received a 5 star rating on its impacts on governance, workers, community, environment and its core business model.
GIIRS (stands for Global Impact Investing Rating System, pronounced “gears”) Impact Ratings provide a comprehensive, comparable, and third-party verified assessment of companies’ and funds’ social and environmental impact. In order to be rated, companies must complete a rigorous process, completing an assessment that evaluates the company. Before a rating is issued, all data is reviewed and verified by a third-party.
GIIRS Ratings & Analytics was launched in September at the Clinton Global Initiative, following a successful global beta test with the first 25 GIIRS Pioneer Funds . More than 200 companies from these leading impact investing funds across 30 countries tested the GIIRS rating platform during the beta test.
Beam recognizes that scaling the impact investing industry requires improved capital markets infrastructure,including generally accepted standards for defining, measuring, and comparing positive social and environmental impact.
Mr. Anand Shrivastav, Chairman & Managing Director, Beam said “We are indeed delighted to receive 5 Star rating by GIIRS Ratings & Analytics- good recognition for a for-profit social enterprise like ours for the work we do. The rating recognizes that Beam creates long term value for both society and our shareholders. Through this prestigious rating investor, customer, employees, channel partners, investors, regulators and governments would see Beam from a completely different lens.”
“GIIRS Ratings & Analytics is inspired by a chorus of voices calling for capitalism to create long term value for both society and shareholders,” said Andrew Kassoy, co-founder with Jay Coen Gilbert and Bart Houlahan of B Lab, the non-profit organization developing GIIRS. “By providing greater market transparency, GIIRS will help to unlock hundreds of billions of dollars of sidelined investment capital to flow to the world’s most innovative entrepreneurs, who are addressing social and environmental challenges using the power of business.”