Benefit Company and B Corp


 

We are a Benefit Company, certified B Corporation

Ever mindful of how much we can still do to promote a truly sustainable and inclusive economic model, in 2020 Novamont decided to demonstrate just how much sustainability is part of the Group’s identity by making its commitment binding and institutional. By amending our Articles of Association, we have legally become a Benefit Company, formalising our aspiration to pursue purposes of common benefit for the territories, regions and environment in which we operate.

Benefit companies are a legal form of business, introduced in Italy with Law no. 208 of 28 December 2015 (paragraphs 376-383 and annexes 4-5) and which entered into force on 1 January 2016. This legal form is also present in the US and other countries in the world. A Benefit Company is a company which combines the goal of profit with the purpose of creating a positive impact on both society and environment and which operates in a transparent, responsible and sustainable way. This commitment is established in its Articles of Association. Company’s directors are required to meet their obligations towards the defined purpose and to assess and report annually on the impacts generated by the company business.

Novamont also obtained B Corp Certification, with a score of 104 (all details available at bcorporation.eu). B Corporations are companies that together form a global movement with the aim of promoting and disseminating a business model that goes beyond generating profit for shareholders and aims to constantly innovate and maximise the positive impact it has on society and the environment, and for all stakeholders.
B Corp Certification is issued to companies by B Lab (a US non-profit organisation) on the basis of an assessment made on the achievement of high social, environmental and economic performance levels.