Fifth Wall is Now One of the Largest VCs to Become a Certified B Corporation

(Brad Greiwe (left) and Brendan Wallace (right) co-founded Fifth Wall in 2016. The firm became a Certified B Corporation on April 10, 2020. Credit: Rocco Ceselin)

Fifth Wall, the largest venture capital firm focused on innovation for the global real estate industry, recently announced it is now a Certified B Corporation or “B Corp.”

Certified B Corporations are leaders of a global movement of people using business as a force for good. They meet high standards of overall social and environmental performance, transparency and accountability, and aspire to use the power of business to solve social and environmental problems.

The real estate industry accounts for 40% of the world’s consumption of energy while emitting 30% of total global greenhouse gases and using 40% of its raw materials. Given this, the industry has a responsibility to find solutions that reduce its negative environmental impact by implementing long-lasting solutions to address climate change.

Earlier this year, Fifth Wall announced its intention to launch a Carbon Impact Fund to help build a consortium of climate-forward real estate companies meet growing pressure to reduce carbon emissions and invest in sustainability technologies.

Climate consciousness is at the core of Fifth Wall’s values, impacting the firm’s operations and investment strategy. With this certification, Fifth Wall’s current and future portfolio companies, investors, and employees can feel certain that they’ve partnered with an organization that prioritizes a high bar of values-driven innovation and environmental performance. Currently, two companies in the Fifth Wall portfolio, Allbirds and Cotopaxi, are also B Corps.

There are more than 3,300 Certified B Corporations in over 150 industries and 70 countries with one unifying goal: to redefine success in business.