By amending our corporate governing documents, we have locked in our mission to ensure that our business decisions consistently reflect our commitment to all our stakeholders. This transformation into a Public Benefit Corporation marks a pivotal step in aligning our legal framework with our core values and mission.
Understanding Public Benefit Corporations
Public Benefit Corporations are a unique type of legal entity designed to produce a positive impact on society, the environment, and the economy. Unlike traditional corporations, which primarily focus on maximizing shareholder value, PBCs are legally required to consider the interests of all stakeholders, including employees, customers, communities, and the environment, in their decision-making processes.
The Benefits of Becoming a Public Benefit Corporation
- Enhanced Mission Alignment: Being a PBC ensures that our mission and values are embedded into the very fabric of our corporate governance, guiding our decisions and operations.
- Transparency and Accountability: As a PBC, we are committed to greater transparency and accountability. We will regularly report on our social and environmental performance, providing our stakeholders with a clear view of our impact.
- Long-Term Value Creation: By prioritizing the well-being of all our stakeholders, we believe we can create more sustainable and long-term value for our business and the communities we serve.
Klausing Group’s Updated Mission Statement
In line with our new status as a Public Benefit Corporation, we have updated our mission statement to reflect our ongoing commitment to our stakeholders:
"The purpose of the Corporation is to leverage its financial, human, and physical resources to champion the integral role of landscapes in fostering social, environmental, and economic well-being. As responsible environmental stewards, we are committed to maximizing the positive impact of our services while simultaneously prioritizing the welfare of our employees and the communities we serve."
Looking Ahead: Pursuing Certified B Corporation Status
If you've been following our blog since 2023, you know we've been on an exciting journey to become a Certified B Corporation. Throughout this process, we've shared valuable lessons and insights in our blog series, B the Change, covering topics such as workers, clients, community, the environment, and governance.
In addition to becoming a Public Benefit Corporation, we are eagerly awaiting the results of our B Corp application, submitted in the first quarter of this year. Achieving B Corp Certification will further validate our commitment to the highest standards of social and environmental performance, accountability, and transparency.
We hope to announce our Certified B Corp status later in 2024 and are excited about the possibilities this will bring for our company and our stakeholders.
Thank you for being part of our journey as we continue to strive for excellence in every aspect of our business. Together, we can create a more sustainable, equitable, and prosperous future for all.
Stay tuned for more updates and join us in celebrating this exciting new chapter for Klausing Group. Your support and trust inspire us to keep pushing the boundaries of what a landscape contracting business can achieve.