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 corporation 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 with Law no. 208 of 28 December 2015 (paragraphs 376-383 and annexes 4-5) and which entered into force on 1 January 2016, also existing in other countries.
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 objects.
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 as an integral component of the Benefit Corporation concept in 2006.
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 4000 companies in 153 sectors in 77 countries around the world that aims to spread a more evolved business paradigm. With the inclusion of data from 2020, we obtained a new score of 120*. The increase in our corporate performance was the result of the plan of continuous improvement, particularly the actions pursued to achieve the specific goals of common benefit.
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 describes both the actions that have been taken and the plans and commitments for the future.
In 2021, our group was recognized "B Corp Best for the World ™", therefore it has been 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 "industrial manufacturing" category, and ranks 1st in Italy and Europe, and 2nd 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 with Law no. 208 of 28 December 2015 (paragraphs 376-383 and annexes 4-5) and which entered into force on 1 January 2016, also existing in other countries.
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 objects.
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 as an integral component of the Benefit Corporation concept in 2006.
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 4000 companies in 153 sectors in 77 countries around the world that aims to spread a more evolved business paradigm. With the inclusion of data from 2020, we obtained a new score of 120*. The increase in our corporate performance was the result of the plan of continuous improvement, particularly the actions pursued to achieve the specific goals of common benefit.
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 describes both the actions that have been taken and the plans and commitments for the future.
In 2021, our group was recognized "B Corp Best for the World ™", therefore it has been 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 "industrial manufacturing" category, and ranks 1st in Italy and Europe, and 2nd worldwide.
Our sustainability's numbers and figures​
*As stated in the law, this result is not certified by a third party, but is the result of a self-assessment, a process in which we were assisted by the company Nativa SB S.r.l., as mentioned in the chapter Reviewed with Care, in the 2020 Impact Report.