New Resource becomes a B Corp Corporation
New Resource Bank underscored its commitment to serving people and planet as well as profit by becoming a Certified B Corporation on June 8. The bank joins a growing roster of more than 300 B Corporations that includes such companies as Method, New Leaf Paper, Numi Organic Tea, RSF Capital Management, Seventh Generation, Sungevity and Sustainable Industries.
“It’s a community of sustainability-minded businesses that we want to be a part of and commit to extending,” says Vince Siciliano, New Resource president and CEO. “Going though the certification process and being part of the community is expanding our thinking about sustainability. In turn, we can share those insights with our customers as we work with them to help them become more sustainable.”
B Corporation is one of the most respected and credible certifications for green and sustainable businesses—and New Resource’s certification score puts it in the top 10 percent of B Corporations. In addition, New Resource is the first publicly traded (on the Over-the-Counter Bulletin Board) company to become a B Corporation.
To be certified, companies must commit to expanding their corporate responsibilities to include consideration of all stakeholder interests and meet rigorous performance standards in sustainability areas including energy use, transparency, environment and community impact. An independent Standards Advisory Council oversees the certification ratings and audit requirements. New Resource was evaluated based on an assessment questionnaire, supporting documentation and an individual review.
The impact goes beyond having a third-party stamp of approval, says Siciliano. “It’s easy for us to feel good about what we’re doing, but we need to be grounded—we can’t just set our own standards. This takes us outside of ourselves.”
Plus, he adds, “The community of sustainability-minded companies is continually evolving in its thinking and practices, and B Corp. represents some of the best thinking on how to integrate the triple bottom line—managing for people, planet and prosperity—into a company.”