Saratoga, California—10/12/2022—Earth Foundries, Inc., a woman-owned California-based Benefit Corporation delivering sustainable forest waste disposal to end catastrophic wildfire, is proud to announce it has reached Pending B Corp status with B Labs.
“Earth Foundries’ goal is to #EndCatastrophicWildfire by promoting healthy forests,” said Dede Smullen, Chairwoman of Earth Foundries. “Our sincerely held belief is that we will do well as a business by doing good for all our stakeholders. That’s why Earth Foundries specifically incorporated as a benefit corporation, building our mission and vision into the foundation of our company. These values will forever guide our decisions as we grow and succeed as a business.”
A benefit corporation is a traditional corporation with modified obligations, committing it to higher standards of purpose, accountability and transparency*:
1. Purpose: To create general public benefit. This is defined either as a material positive impact on society and the environment, or as the obligation to operate in a responsible and sustainable manner depending on the state/ province of incorporation.
2. Accountability: Benefit corporations expand the obligations of boards. A board must consider the environmental and social factors, as well as the financial interests of shareholders. This gives directors and officers the legal protection to pursue a mission and consider the impact their business has on society and the environment.
3. Transparency: Benefit corporations must report on their progress to achieve general public benefit. Reporting requirements differ by state/ province, but many are required to use a third party standard to measure their performance and annually report to the public.
“B Corp Certification is no small task,” said Roger Smullen, CEO of Earth Foundries, “but it is worth the effort to demonstrate our commitment to creating a healthy forest by lowering the cost of forest waste disposal while decarbonizing forest management. Becoming a pending B Corp sets on the pathway to full B Corp certification.”
*Source: https://usca.bcorporation.net/benefit-corporation/
About Pending B Corp status:
The Pending B Corp status is designed to give start-ups and smaller companies time to prepare for the rigorous process of full B Corp Certification. Taking this step signals to current and future investors that a company measures and manages its social and environmental performance with the best tools available. It also demonstrates strong governance as the company must adopt a legal framework to protect mission and brand equity.
Becoming a Pending B Corp is not the same as becoming a Certified B Corp. Pending B Corp status is finite; after being in operation for a period of time determined by the regional B Lab or Sistema B organization, a company must go through the full verification process with B Lab. However, the Pending B Corp status can give companies a head start by taking these initial steps.
About Earth Foundries:
At Earth Foundries we’re all about ending California’s catastrophic wildfires. Now more than ever, public, and private land managers are working hard to restore the health of California forests. Earth Foundries helps by incentivizing the removal of forest waste from the landscape.
The earth has multiple biological systems that naturally sequester carbon—soil, oceans, and forests. Working with these natural systems, Earth Foundries will help end California’s catastrophic wildfires and address global warming. We take the naturally sequestered carbon in forest waste and limit its re-release into the atmosphere, making forest management a more profitable and more carbon negative activity.
Founded in June of 2021, Earth Foundries, Inc. is a privately held, California benefit corporation and nationally certified women owned business headquartered in Saratoga, California. For more information, please visit Earth Foundries’ website at www.earthfoundriesinc.com and follow us on Twitter @earthfoundries.
CONTACT:
Dede Smullen
Dede.smullen@earthfoundriesinc.com