Business

Novamont achieves B Corp Certification

Italian bioplastics company Novamont has received B Corp Certification, part of a global movement which aims to put more emphasis on social and environmental responsibility in business.

Novamont's production plant in Patrica, near Rome.
Novamont's production plant in Patrica, near Rome.
In an announcement last week (20 July), Novamont revealed that it will be joining the 3,423 companies across 150 industries and 71 countries that have been verified as B Corps – or ‘Benefit Corporations’ – by the independent body B Lab.

B Corps are expected to meet the highest standards of social and environmental performance, public transparency and legal accountability, with directors required to report annually on the impacts generated by their company. In addition to creating profit for their shareholders, B Corps must generate a positive impact on society and the environment.

B Lab has analysed 120,000 companies over the years, with just 2.8 per cent scoring more than 80 points to be awarded B Corp Certification, with the average just 51: Novamont achieved 104 points.

Novamont’s bioeconomy model aims to provide the following common benefits:

  1. Regeneration of local areas through rehabilitation of abandoned production sites and avoiding the use of virgin soil;
  2. Promotion of a circular model that maximise recovery and treatment of biowaste to produce quality compost and reintegrate organic matter into our environment;
  3. Preservation and regeneration of soil vitality and health through the development of biodegradable and compostable products of plant origin that reduce pollution from plastics, and the promotion of sustainable agricultural practices that improve soil fertility;
  4. The development of innovative and sustainable production processes that help reduce carbon emissions along with research and innovation that transform waste and industry by-products into new applications; and
  5. The contribution to a virtuous network of alliances with local stakeholders and different industry sectors that generate know-how on the subject of the circular bioeconomy, promote training activities in collaboration with public partners and raise educational awareness around sustainable development.

Catia Bastioli, CEO of Novamont, said: “B Corps represent a complete paradigm shift which looks at companies as a force for regeneration and urges us to rethink the role of businesses in society to go well beyond today’s profit, and to ensure transparency and value across local areas.

“We hope that the path undertaken by Novamont to obtain this important certification that assesses and reports on environmental and social impacts can be shared by an increasing number of companies and become a distinctive feature of our industry.”

Novamont has experienced a period of sustained growth in recent years, opening a new production plant at Patrica, near Rome, in 2018, increasing its production capacity to 150,000 tonnes per year, while expanding its Mater-Bi compostable polymer range, which has been declared fully marine biodegradable.

Related Articles