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Legal & General achieves Good Business Charter accreditation
The Good Business Charter (GBC) accreditation recognises our commitment to responsible business practices. The GBC aims to change organisational behaviour by publicly recognising and rewarding those who meet the standard.
28 Mar 2022
To achieve accreditation, we had to meet ten commitments, which include employee representation, ethical sourcing, and environmental responsibility. At Legal & General, we believe that these ten areas demonstrate our belief in inclusive capitalism.
Putting good business into action
Investing in urban regeneration and affordable housing is the mark of a socially and environmentally conscious business and is a key area of focus for Legal & General.
Our Affordable Homes business is one of the UK’s leading institutional developers and owners of affordable housing. In 2021, we increased our number of operational affordable homes by 1,000, and secured a pipeline of over 7,000 homes.
Our 20-year partnership with Homes England and Muse Developments as part of the English Cities Fund has been extended to 2036, bringing with it an additional 6,600 homes and long-term urban regeneration schemes to support the levelling up of towns and cities.
It was also recently announced that Lovell Partnerships and Legal & General Affordable Homes will be working together to increase the delivery of affordable homes and mixed tenure sites.
The partnership will start with The Junction, turning a brownfield site which has lain empty for over 20 years into 234 energy efficient new homes.
Read more about our collaboration with Lovell Partnerships here and our work as part of the English Cities Fund.
Nigel Wilson, CEO at Legal & General:“Being purposeful in the way we make and invest money is at the heart of inclusive capitalism; our investments and initiatives must carry a broader social benefit. Signing the Good Business Charter is an illustration of putting these principles into practice, and is a great way to be recognised for our commitment to being a responsible employer and investor.”
Julian Richer, founder of the Good Business Charter: "We are absolutely delighted that Legal & General is working to Good Business Charter standards and making this important commitment. A household name like Legal & General has the power to support our ambitions of building back consumer trust in business and proving that companies can act both responsibly and for the good of wider society. Their belief in inclusive capitalism aligns perfectly with the goals of the Good Business Charter, and I look forward to more organisations following in their footsteps.”
Further information
John Godfrey
Director of Levelling Up (2006 - 2023)
Group Communications
T: 020 3124 2090
Notes to editors
Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at FY23) of which c40% (circa £0.5 trillion) is international.
We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.
As at 7 June 2024, we estimate the Group’s Solvency II coverage ratio to be 224%.
As at 11 June 2024, Legal & General has a market capitalisation of £14.6 billion.