Charlotte’s Web Holdings Inc., a cannabidiol (CBD) product manufacturer in Boulder, Colo., has earned B Corporation Certification from B Lab. Certified B Corporations, also known as B Corps, are for-profit companies that “use the power of business to build a more inclusive and sustainable economy.” B Corps meet the highest verified standards of social and environmental performance, transparency and accountability, according to officials.
“Becoming a certified B Corp was important to Charlotte’s Web as it aligns with our vision for conducting our business, from seed to shelf, to benefit the greater good in society, our environment, for our employees and our communities,” said Deanie Elsner, CEO of Charlotte’s Web. “This was a comprehensive, precise and illuminating process, teaching us where we are strong and where we can focus for continuing improvement.”
In connection with the certification process, and as approved by the shareholders of Charlotte’s Web at the August 2019 annual general and special meeting, the company has converted to a “benefit company” in accordance with the Business Corporations Act (British Columbia), officials said in a statement.
“Since 2006, more than 60,000 companies globally have participated in the B Impact Assessment, but only 3,499 have been certified B Corp to date, which is indicative of the rigorous standards set by B Lab in order to become a certified B Corp,” officials added.
Lindsey Wilson, business development manager at B Lab, said it’s exciting to have a pioneering company like Charlotte’s Web join the B Corp community.
“This recognition formally acknowledges all the good work Charlotte’s Web has been doing with regenerative and organic agriculture and its impressive history of support of community sectors in need.”
Kim Coupounas, global ambassador for B Corp, added, “We welcome Charlotte’s Web to our global community of positive change makers, each a for-profit company, using the power of more conscious decision-making to serve the greater good for the planet and its people.”
For additional details on Charlotte’s Web B Corp Certification, click here.