PROMISING SOLUTIONS BY A B-CORP CERTIFIED BENEFIT COMPANY – NOVAMONT
Strength for good and global regeneration tools, with purposes higher than mere profit. It is the 3422 companies for 140 sectors of 71 countries of the world – certified “B-Corp” by the independent body B-Lab – which in addition to generating profit for shareholders also create a positive impact on society and the environment, thus building a more inclusive and sustainable economy.
Out of 120,000 companies analyzed by B-Lab over the years, only 2.8% passed the score of 80, necessary to obtain certification, while the average value is 51. With a score of 104, Novamont becomes part of this global movement that is rewriting the way of doing business in the world, becomes “B-Corp” and, thanks to the modification of the corporate statute, it also acquires the legal form of “Benefit Company”, recognized in Italy by the law of 28 December 2015.
A Benefit Company establishes in its articles of association the commitment to conduct an economic activity by acting in such a way as to bring wellbeing to the environment and people and provides for the responsibility of its directors to comply with the obligations undertaken towards the established social purposes and to evaluate and report annually on the impacts generated. A considerable paradigm shift, which represents an opportunity not only for individual companies, but also for the qualification of entire supply chains. The B-Corp system provides a rigorous certification tool for the Benefit Companies’ objectives and systemic results.
Novamont pursues these objectives of common benefit through a bioeconomy model which provides:
- the regeneration of the territories also through the recovery of disused production sites, avoiding the consumption of virgin soil;
- the promotion of a circular model that maximizes the recovery of organic matter through increasingly sustainable systems for the collection and treatment of biowaste to generate compost and quality organic matter;
- preservation and regeneration of soil vitality and health. To this end, it develops and produces products of plant origin, biodegradable and compostable, conceived as solutions to specific problems, such as pollution from plastic and other persistent pollutants, and promotes sustainable agricultural practices that strengthen soil fertility and restore its matter organic;
- the development of innovative and sustainable production processes that contribute to the decarbonization of the economy also through research and innovation for the transformation of waste and by-products of the supply chain into new products;
- the contribution to the creation of a virtuous system by creating alliances with local stakeholders and connecting different sectors, as well as the cultural and knowledge growth on the theme of the circular bioeconomy, promoting training activities in collaboration with public and private sector partners and awareness-raising initiatives and education for sustainable development.
“The B-Corp represent a complete paradigm shift, which looks at business as a regenerative force and which pushes us to rethink the role of companies in society, to go well beyond today’s profit and guarantee transparency and widespread value for territories.”, said Catia Bastioli, CEO. “We hope that the path that Novamont has taken to obtain this important certification and our commitment, as a benefit company, to assess and report the environmental and social impacts generated, can be shared by an increasing number of companies and become a distinctive feature of the supply chain.”, concluded Bastioli.