ABOCA BECOMES A BENEFIT CORPORATION

With the notarial deed of 24th August 2018, Aboca changes its articles of association and becomes a Benefit Corporation, setting out its company mission, including at the legal level, in which business activity and the search for the Common Good are merged. The company, which starts with a systematic view of life and which through science redesigns the way of treating people, has decided to adopt the new legal model that it has itself pioneered both in terms of mission and company policies. Thanks to this innovative legal framework, recently introduced in Italy, enterprises have a new opportunity: to confirm in their company articles of association, along with the pursuit of profit, aims of common benefit as constituent elements of the company.

After the transformation of AFAM (Azienda Farmaceutica Municipalizzata, Farmacie Comunali Firenze)* into a benefit corporation, which is owned by Apoteca Natura, a company also part of the Aboca Group, it is now Aboca's own turn.

To makes its commitment to the Common Good even more explicit, Aboca officially approved an agreement for a new harmony between Enterprise – Nature – Community.

Since the very day of its founding, Aboca has been committed to promoting the widespread well-being of Humans, Society and the Environment striving for a Qualitative Growth understood as a different conception of value in which development does not mean an unsustainable increase in the quantities of goods and consumption but a change in the system in which the qualities emerge for the real progress of humanity, as Fritjof Capra argued.

The critical challenge is precisely that of evolving towards an economically, socially and environmentally sustainable system, continuing to quote the physicist and systems theorist, founder and Director of the Center for Ecoliteracy at Berkeley, California who has collaborated with Aboca for years in the cultural arena.

“The company is part of a living system and should share its rules, so that sustainability is no longer just compensation for the external costs arising from production but a constituent element of the company itself. The values we pursue have always been part of our DNA and now we can prove that this approach has in turn been a factor in our success. Creating value for society is the first condition that allows companies like ours to establish themselves on the market ” declared Massimo Mercati, the chief executive officer of Aboca Spa Società Agricola.

Like all Benefit Corporations that integrate and clearly state common benefit objectives into their articles of association in addition to those of profit, Aboca is committed to reporting each year on the company's impact through a third party certifying body, which with the so-called Benefit Impact Assessment (BIA), will assess correct compliance with the obligations undertaken by the company and will attach this report to the company financial statements.

Specifically, the creation of shared value for Aboca is organised into four action areas: research and innovation, improvement of the environment, culture and community, and value to people.

RESEARCH AND INNOVATION
Research and development of 100% natural, molecular complexes scientifically developed and obtained through technologically advanced production processes, in order to improve human health. The naturalness of the products and the research aimed at avoiding chemically synthesised substances that are not biodegradable and outside the life cycle are the basis for a new systemic vision of health. A vision that aims at reinterpreting human physiology to find effective and safe treatments for sustainable health.

IMPROVEMENT OF THE ENVIRONMENT
Dissemination of practices that respect and improve the environment and in particular of organic farming as a system of cultivation based on a respect for natural resources, biodiversity and the vitality of the soil.

VALUE TO PEOPLE
Creation of a positive work environment aimed at valuing people and their well-being, to develop the potential of each individual and increase pride in working for the company.

CULTURE AND COMMUNITY
Concrete engagement in the cultural, social and economic development of the communities in which the company works, with awareness initiatives on issues of sustainable development and the common good.

About Benefit Corporations
The innovative legal form of enterprise became effective in Italy in 2016. (Law no. 208 of 28th December 2015, paragraphs 376-383 and annexes 4 – 5, published in gazzettaufficiale.it/eli/id/2015/12/30/15G00222/sg), the first country in the world outside the USA and to date it has been adopted by more than 3,000 companies in the world of which over 300 are in Italy. Management of benefit corporations requires managers to strike a balance between the interests of shareholders and the interests of society. Benefit corporations must appoint a company impact manager and agree to transparently and completely report their activities through an annual impact report that the law requires be prepared according to recognised assessment standards. As a reference for the impact report, Aboca has adopted the architecture of the B Impact Assessment, developed starting in 2006 by B Lab, a non-profit organisation that promotes B Corporation certification (bimpactassessment.net/societ%C3%A0-benefit).

 
 
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