The sustainability credentials of ESG-conscious retirement platform PensionBee have been given a boost in the latest EthiFinance ratings assessment.
EthiFinance has give a record PensionBee ESG (environmental, social, governance) score, at an overall 86/100 in its 2023 assessment. This represents an overall rise of 10 points from the year before and 21 points from 2021, when it scored 65/100.
The assessment grades companies according to their performance on four core sustainability metrics: governance, social, environment and external stakeholders.
PensionBee received the highest score possible in the Environment category at 100/100, an increase of 24 points. The second highest PensionBee ESG score was in Governance, at 88/100, while it achieved 85/100 in the External Stakeholders metric and 75/100 in the Social category.
PensionBee chief engagement officer Clare Reilly said: “We are delighted to see our continuous efforts in advancing sustainability and responsible business practices recognised in this year’s EthiFinance report.
“Achieving an ESG score of 86 not only reflects our determination to improve year-on-year, but also underlines our dedication to creating long-term value for our customers and the planet. We remain committed to driving positive impact and transparency across every aspect of our business.”
EthiFinance’s scores are based on approximately 140 detailed criteria, updated annually and determined through a five-step evaluation process involving the collection and verification of public ESG data from the last three years.
PensionBee, which was founded in 2014 by CEO Romi Savova, has over 240,000 customers and offers a range of socially responsible investment services.
These include a PensionBee ESG Fossil Fuel Free sustainable investing plan and an Impact plan investing in companies addressing the world’s social and environmental needs, with annual fees of 0.70% and 0.95%, respectively.
The Good Money Guide’s review of PensionBee in July noted the company offers a user-friendly platform designed to help users manage their retirement savings easily.
In a 2020 interview, Savova stated that she was inspired to found the platform after running into hurdles when moving her own pension out of a corporate plan.
She said: “Almost everyone is in exactly the same situation, whereby they have one or more pensions, usually the paperwork is in a drawer, what they are looking for is a simple and easy way to sort it out.”
Robin has more than six years of experience as a financial journalist, most of which were spent at Citywire, and covers the latest developments in the investing, trading and currency transfer space. Outside of work, he enjoys reading literature and philosophy and playing the piano.
You can contact Robin at robin@goodmoneyguide.com
