The Coutts scandal can be traced back to the day, two years ago, when the bank proudly announced that it had achieved ‘B Corp’ status. B Corp is a little-known non-profit which operates a scheme a bit like Stonewall’s Diversity Champions Programme. Companies that sign up and jump through the necessary hoops will receive a certificate declaring that they’re ethical and inclusive.
Business and politics should be kept separate, yet woke capitalism wants to fuse them together
B Corp’s website declares: ‘Certified B Corporations are leaders in the global movement for an inclusive, equitable and regenerative economy.’ It adds that its scheme seeks to measure ‘a company’s entire social and environmental impact’.
When Coutts announced itself a B Corp, it was essentially saying that the bank had been politicised, which should have been a warning of what was to follow. Nigel Farage was excluded from the bank as part of its inclusivity agenda.
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