Philadelphia, US: Azavea and B Lab announced that Azavea has been certified as a B Corporation, joining over 280 other leading companies who are setting a new corporate standard for social and environmental performance.
B Corporations are a new type of for-profit companies that use the power of businesses operating in a market-based economy to solve social and ecosystem problems, while committing to creating benefit for all stakeholders, not just shareholders. To become certified, B Corporations must meet comprehensive and transparent social and environmental performance standards and amend their corporate by-laws to incorporate the interests of employees, community and the environment. They also agree to undergo an audit of their business practices once every 5 years.
“We feel honoured to have qualified as a certified B Corporation. While terms such as corporate social responsibility (CSR), conscious capitalism and sustainable development are increasingly being used for marketing purposes, it all boils down to the choices we make as businesses and the values we not only claim to believe in, but that we actually apply in our day-to-day operations. The B Corporation status emphasises the triple bottom line of social responsibility, sustainability and profitability (people, planet, profit),” said Robert Cheetham, President and CEO of Azavea.