Novamont gains B-CORP certification and becomes a benefit company

“Going beyond profit and ensuring transparency and widespread value for the community” is the philosophy behind a major goal achieved by the Italian bioplastics group Novamont.

The company has obtained BCorp certification and has amended its articles of association to gain the legal status of a Benefit Company, which means it is committed to conducting a business that is beneficial to people and the environment and undertakes to report annually on the impacts it has generated.

In particular, the company will pursue a bioeconomic model based on land remediation, the circular economy, soil health, the development of sustainable processes and the creation of a virtuous system through alliances with local stakeholders.

The B-Corp system provides a rigorous certification tool for the systemic objectives and results of Benefit Companies. A total of 3,422 companies operating in 140 sectors in 71 countries around the world are certified B-Corp by the independent body B-Lab, and in addition to generating profit for shareholders create a positive impact on society and the environment, thus building a more inclusive and sustainable economy.

Novamont has joined this global movement with a score of 104, an excellent result considering that out of 120,000 companies analysed over the years by B-Lab, only 2.8% exceeded the score of 80 required to obtain certification (the average value is 51).