B Corporation

PROJECT X GLOBAL Certifies as a B Corporation

July 2020: ProjectX Global has announced today its certification as a B Corporation (or B Corp), joining a growing group of companies reinventing business by pursuing purpose as well as profit. ProjectX Global has been certified by B Lab, the not-for-profit behind the B Corp movement, as having met rigorous social and environmental standards that represent its commitment to goals outside of shareholder profit.

The B Corp certification addresses the entirety of a business’s operations and covers five key impact areas of Governance, Workers, Community, Environment and Customers. The certification process is rigorous, with applicants required to reach a benchmark score of over 80 while providing evidence of socially and environmentally responsible practices relating to energy supplies, waste and water use, worker compensation, diversity and corporate transparency. To complete the certification, ProjectX Global has legally embed their commitment to purpose beyond profit in their company articles.

ProjectX Global is now part of a community of over 3,300 businesses globally who have certified as B Corps. The B Corp community in the UK, representing a broad cross-section of industries and sizes, comprises over 300 companies and include well-known brands such as The Guardian, innocent, Patagonia, The Body Shop, and organic food pioneers Abel & Cole.

ProjectX Global are one of the few businesses globally that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.

Project X was founded with the specific goal of bettering the world, and as a values-driven business, we have always worked to carefully balance people, planet and profit in everything we do. Our mission is to radically transform the sustainability performance of 10 industry value chains most responsible for biodiversity decline and climate change impacts in 10 years – also known as our 10 in 10 programme. We are proud to display our B Corp certification; it emphasises that our aims and values are in line with the B Corp community, whose businesses use their profits and growth as a means to a greater end.

Marcela Navarro, CEO and Co-Founder of Project X, says the following,

“Our core aim is environmental transformation on a massive scale. Even our B Corp Pending status allowed us to unleash the unique combination of purpose and profit – we have found that the key to driving fundamental change.

B Corp has also enabled Project X to mobilise massive support – from key multi-national companies in the feed industry, world-leading research institutes and Universities, major retailers, EU research funds, major environmental campaigners, charitable foundations and philanthropists, together with many leading individuals in the scientific, environmental and financial community.

Project X and B Corp have assembled this unique community to really make a difference to the world’s environment.“

Peter Bennett our FD who led the B Corp process said

“We are incredibly grateful for the growth allowed by our year-long journey to become a certified B Corporation; the profound and thought-provoking questions that the process asked of us provided, the opportunity to discover potential blind spots in the company and for us to learn how to unite our values with the operation of the business even more closely than before.

Can I add that we have received tremendous support from our lawyers – Bates Wells – both on the B Corp journey and the operational challenges of the last two years”.

Kate Sandle, Director of Programmes and Engagement of B Lab UK, says “We are delighted to welcome ProjectX Global to the B Corp community. This is a movement of companies who are committed to changing how business operates, who believe business really can be a force for good. We know that ProjectX Global is going to be a fantastic addition to the community and will continue driving the conversation forward”.

“We are pleased to have B Corps of all shapes and sizes as part of our community – from startups to multinationals, and across many different industries. Business is a powerful force, and one that – as these companies are showing – can be used for good. Welcoming ProjectX Global is a particularly exciting moment because we’ve seen that the supply chains of the major corporates worldwide are in particular need of a shakeup. We and the rest of the B Corp community are really pleased to support ProjectX Global in paving the way for a new way of doing things”.

“Being able to welcome ProjectX Global to the B Corp community is hugely exciting. Their commitment to doing business differently will be an inspiration to others and really help spread the idea that we can redefine success in business to be as much about people and planet as it is about profit”.