Givaudan today announces its intention to become a certified B Corporation (B Corp). The start of this journey reinforces Givaudan’s ongoing commitment to be a force for good and to demonstrate its purpose in action every day. Givaudan is the first in its industry and one of the largest businesses to commit to this journey.
B Corp certification recognises organisations who meet the highest verified standards of social and environmental performance, public transparency, and legal accountability and who balance profit and purpose.
Gilles Andrier, CEO said: “Our ambition to become a certified B Corp will help us to live up to the highest standards of being a responsible and sustainable business as we strive to be a force for good. Our certification will be the independently-verified proof that we are acting on our purpose goals and successfully balancing people, planet and profit.”
He continues: “We are starting this journey at a time when businesses are re-examining their role in building an inclusive and equitable society. The B Corp movement is an excellent example of what can be achieved when businesses come together for the greater good and we are proud to take the first step on this journey.”
Givaudan’s heritage of sustainable business leadership has already been widely recognised by independent bodies. This includes the CDP which awarded Givaudan a double A rating for its work on climate and water earlier this year and Ecovadis which awarded Givaudan its prestigious gold rating in its 2019 Corporate Social Responsibility (CSR) assessment.
Nathan Gilbert, Executive Director from B Lab Europe said: “We are delighted to see Givaudan commit to pursue B Corp Certification, which identifies and celebrates companies with exceptional positive social and environmental impact. Individually, B Corps meet the highest standards of verified performance, public transparency, and legal accountability. Collectively, B Corps lead the growing global movement of people using business as a force for good, building a more inclusive and sustainable economy that works for everyone. We look forward to welcoming Givaudan into this community and to supporting them every step of the way on the journey to certification.”
Today more than 3,000 companies across 150 industries are recognised B Corps. B Corp certified organisations work together as a global movement, redefining the future of good business and the role of business in society.
Givaudan is the global leader in the creation of flavours and fragrances, with its heritage stretching back over 250 years, the Company has a long history of innovating scents and tastes. From a favourite drink to your daily meal, from prestige perfumes to cosmetics and laundry care, its creations inspire emotions and delight millions of consumers the world over. The company is committed to driving purpose-led, long-term growth while leading the way to improve happiness and health for people and nature. In the fiscal year 2019, the Company employed over 14,900 people worldwide and achieved sales of CHF 6.2 billion and a free cash flow of 12.7% of sales. Let’s imagine together on www.givaudan.com.
About B Lab
B Lab is a non-profit that serves a global movement of people using business as a force for good. B Lab’s initiatives include B Corp Certification; administration of the B Impact Assessment, SDG Action Manager, and B Analytics; and the creation and advocacy for corporate governance structures that prioritize stakeholder value over shareholder profit. To date, there are over 3,000 Certified B Corps in 150 industries and 70 countries, and over 70,000 companies use the B Impact Assessment.