Benefit Company and B Corp
We are a Benefit Company, certified B Corporation
“The regeneration of local areas has always been a fundamental part of our development model. Over the past 30 years we have worked hard to pursue this objective, against prevailing trends, by promoting a circular bioeconomy model that aims to preserve and revitalise the soil, maximising the recovery of organic material and developing innovative and sustainable products and production processes. More than ever, being a benefit company and a B Corp means looking at our business as a force for regeneration, rethinking the role of companies in society and going far beyond today’s profits, to guarantee transparency and value across local areas.”
Catia Bastioli – Chief Executive Officer of NOVAMONT
Ever mindful of how much we can still do to promote a truly sustainable and inclusive economic model, we decided to demonstrate just how much sustainability is part of the group’s identity by making our commitment binding and institutional. By amending our Articles of Association, we have legally become a Benefit Company (BC), a legal form of business, introduced in Italy in January 2016 to enable entrepreneurs, managers, shareholders and investors to protect the company's mission and stand out in the market from all other corporate forms through a virtuous and innovative legal form. There are currently more than 2,000 Benefit Companies in Italy.
Beyond seeking profits, the corporate object of a Benefit Company includes making a positive impact on society and on the biosphere. Therefore, in pursuing their corporate activities, in addition to focusing on profits, BCs voluntarily pursue one or more common benefit purposes.
As a Benefit Company, in order to achieve the corporate purpose, we pursue common benefit objectives, operating in a responsible, sustainable and transparent way towards people, communities, territories, cultural and social assets and activities, bodies and associations and other stakeholders.
We measure our results in terms of positive impact on society and environment through the B Impact Assessment (BIA), the framework created by the non-profit B Lab.
Using this tool to measure economic, environmental and social impacts, NOVAMONT exceeded the threshold of 80 points, verified by B Lab's Standard Trust on a scale of 0 to 200 points, and was then qualified as a Certified B Corp in July 2020, with a score of excellence of 104. We have thus become part of a global movement comprising to date more than 7000 companies in 161 sectors in 93 countries around the world that aims to spread a more evolved business paradigm. In 2023 Novamont undertook a new certification process which also involved the BioBag Group, acquired in 2021. The process concluded positively with a score of 128 for Novamont (+23% compared to 104 in 2020) and 86.3 for BioBag, resulting in an overall score of 118.8..
To properly monitor our progress in achieving the objectives of common benefit, we committed to reporting our own activities transparently and comprehensively through an annual Impact Report, which we have been publishing since 2021. The Impact Report, now in its fourth drawn up edition, illustrates the impacts generated by our corporate activities during the reporting year and describes the commitments and goals that our group assumes for the future.
In 2021, our group has been recognized "B Corp Best for the World ™", for the second consecutive year, being acknowledged for the exemplary environmental performance for the Environment category. The score we received - in our reference size-group (companies with more than 250 employees) - is among the 5% of the highest scores achieved by B Corp companies worldwide. Novamont is the only company in the "Chemicals & chemical products" category and first in terms of score in Italy and Europe. Second worldwide.
Catia Bastioli – Chief Executive Officer of NOVAMONT
Ever mindful of how much we can still do to promote a truly sustainable and inclusive economic model, we decided to demonstrate just how much sustainability is part of the group’s identity by making our commitment binding and institutional. By amending our Articles of Association, we have legally become a Benefit Company (BC), a legal form of business, introduced in Italy in January 2016 to enable entrepreneurs, managers, shareholders and investors to protect the company's mission and stand out in the market from all other corporate forms through a virtuous and innovative legal form. There are currently more than 2,000 Benefit Companies in Italy.
Beyond seeking profits, the corporate object of a Benefit Company includes making a positive impact on society and on the biosphere. Therefore, in pursuing their corporate activities, in addition to focusing on profits, BCs voluntarily pursue one or more common benefit purposes.
As a Benefit Company, in order to achieve the corporate purpose, we pursue common benefit objectives, operating in a responsible, sustainable and transparent way towards people, communities, territories, cultural and social assets and activities, bodies and associations and other stakeholders.
We measure our results in terms of positive impact on society and environment through the B Impact Assessment (BIA), the framework created by the non-profit B Lab.
Using this tool to measure economic, environmental and social impacts, NOVAMONT exceeded the threshold of 80 points, verified by B Lab's Standard Trust on a scale of 0 to 200 points, and was then qualified as a Certified B Corp in July 2020, with a score of excellence of 104. We have thus become part of a global movement comprising to date more than 7000 companies in 161 sectors in 93 countries around the world that aims to spread a more evolved business paradigm. In 2023 Novamont undertook a new certification process which also involved the BioBag Group, acquired in 2021. The process concluded positively with a score of 128 for Novamont (+23% compared to 104 in 2020) and 86.3 for BioBag, resulting in an overall score of 118.8..
To properly monitor our progress in achieving the objectives of common benefit, we committed to reporting our own activities transparently and comprehensively through an annual Impact Report, which we have been publishing since 2021. The Impact Report, now in its fourth drawn up edition, illustrates the impacts generated by our corporate activities during the reporting year and describes the commitments and goals that our group assumes for the future.
In 2021, our group has been recognized "B Corp Best for the World ™", for the second consecutive year, being acknowledged for the exemplary environmental performance for the Environment category. The score we received - in our reference size-group (companies with more than 250 employees) - is among the 5% of the highest scores achieved by B Corp companies worldwide. Novamont is the only company in the "Chemicals & chemical products" category and first in terms of score in Italy and Europe. Second worldwide.
Certification Notice
“Certified B Corporation” is a trademark licensed by B Lab, a private non-profit organization, to companies like ours that have successfully completed the B Impact Assessment (“BIA”) and therefore meet the requirements set by B Lab for social and environmental performance, accountability, and transparency. It is specified that B Lab is not a conformity assessment body as defined by Regulation (EU) No 765/2008, nor is it a national, European, or international standardization body as per Regulation (EU) No 1025/2012. The criteria of the BIA are distinct and independent from the harmonized standards resulting from ISO norms or other standardization bodies, and they are not ratified by national or European public institutions.