Since its beginnings, the market leader in hemp-extracted cannabidiol (CBD) has been operating with the premise of benefitting the planet and all who live upon it. Charlotte’s Web Hemp (CNQ: CWEB continues to grow its business and increase its reputation around the country, and more with a new certification that has been granted to the company. It was announced late last week that Charlotte’s Web Holdings has been honored with the invitation to join the B Corp community that currently has other 3,500 B corps from 150 industries and 74 countries around the world. The company has earned a B Lab’s B Corporation certification.
This certification is granted by the B Corp community to for-profit companies that are doing their job in building a business that is more inclusive and that operates in a sustainable economy. The members of this group are required to take into consideration the impact that their decisions have on all involved stakeholders, such as customers, workers, communities and the environment. These are exactly the requirements that Charlotte’s Web has been embracing through its socially conscious founding principles, and the commitment it has to environmental, social, and governance issues for stakeholders.
Besides following through with the certification process, based on the approval given the shareholders back in the August 2019 annual general and special meeting, Charlotte’s Web is now a “benefit company” in compliance with the Business Corporations Act. “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, Charlotte’s Web’s CEO. “This was a comprehensive, precise and illuminating process, teaching us where we are strong and where we can focus on continuous improvement.” Since 2006, there are more than 60,000 companies that have participated in the B Impact Assessment but only 3,499 were granted the certification.