Charlotte's Web Earns B Corporation Certification
North America's largest hemp CBD company is recognized for its rigorous standards for social and environmental performance, transparency, and accountability
BOULDER, Colo. , Aug. 28, 2020 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web " or the "Company"), the hemp CBD market leader, today announces it has earned B Lab's B Corporation™ certification to further expand the ways in which the Company can fulfill its mission of benefitting the planet and all who live upon it. The Charlotte's Web family is honored to now join the B Corp community of more than 3,500 other B Corps in 150 industries and 74 countries around the world.
Certified B Corporations™ (also referred to as B Corps™) are for-profit companies that use the power of business to build a more inclusive and sustainable economy. B Corps are required to consider the impact of their decisions on all stakeholders: customers, workers, communities, and the environment. These requirements are aligned with Charlotte's Web's socially conscious founding principles, and formalizes its commitment to environmental, social, and governance issues for stakeholders. In connection with the certification process, and as approved by the shareholders of the Company at the August 2019 annual general and special meeting, the Company has converted to a "benefit company" in accordance with the Business Corporations Act ( British Columbia ).
Since 2006, more than 60,000 companies globally have participated in the B Impact Assessment, but only 3,499 have been certified B Corp to date, which is indicative of the rigorous standards set by B Lab in order to become a certified B Corp.
"Becoming a certified B Corp was important to Charlotte's Web as it aligns with our vision for conducting our business, from seed to shelf, to benefit the greater good in society, our environment, for our employees and our communities," said Deanie Elsner , Charlotte's Web's CEO. "This was a comprehensive, precise and illuminating process, teaching us where we are strong and where we can focus for continuing improvement."
Founded in 2006, the B Corp community works toward reduced inequality, lower levels of poverty, a healthier environment, stronger communities, and the creation of high-quality jobs with dignity and purpose. The formal certification process uses credible, comprehensive, transparent, and independent standards of social and environmental performance.
"It's exciting to have such a pioneering company like Charlotte's Web join our B Corp Community," said Lindsey Wilson, B Lab's Business Development Manager, "This recognition formally acknowledges all the good work Charlotte's Web has been doing with regenerative and organic agriculture and its impressive history of support of community sectors in need."
"We welcome Charlotte's Web to our global community of positive change makers, each a for-profit company, using the power of more conscious decision-making to serve the greater good for the planet and its people," said Kim Coupounas, B Corp's Global Ambassador.
For more information on Charlotte's Web B Corp Certification: www.charlottesweb.com/bcorp
To see our official "It's Our 'B' Day Postcard: www.charlottesweb.com/b-corp-bday-postcard
About B Corporations™
Certified B Corporations are for-profit companies that use the power of business to build a more inclusive and sustainable economy. They meet the highest verified standards of social and environmental performance, transparency, and accountability. To date, there are more than 3,400 B Corps in 150 industries and 74 countries around the world.
About B Lab™
B Lab is a nonprofit that serves a global movement of people using business as a force for good™. Their initiatives include B Corp Certification, administration of the B Impact Management programs, and advocacy for governance structures like the benefit corporation. B Lab's vision is of an inclusive and sustainable economy that creates a shared prosperity for all.
About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc., headquartered in Boulder, Colo. , is the market leader in the production and distribution of innovative hemp-derived cannabidiol ("CBD") wellness products. The Company was founded by the Stanley Brothers with a mission to unleash the healing powers of botanicals with compassion and science, benefitting the planet and all who live upon it. The Company's premium quality products start with proprietary hemp genetics that are 100-percent American farm grown and responsibly manufactured into hemp-derived CBD extracts naturally containing a full spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other beneficial hemp compounds.
Charlotte's Web product categories include CBD Oil tinctures (liquid products), CBD capsules , CBD topicals , as well as CBD pet products . Charlotte's Web hemp-derived CBD extracts are sold through select distributors, more than 21,000 brick and mortar retailers, and online through the Company's website at www.CharlottesWeb.com . The rate the Company pays for agricultural products reflects a fair and sustainable rate driving higher quality yield, encouraging regenerative farming practices, and supporting U.S. farming communities.
Charlotte's Web Holdings, Inc. is a socially and environmentally conscious company and is committed to using business as a force for good and a catalyst for innovation. The Company weighs sound business decisions with consideration for how its efforts affect its employees, customers, the environment, and diverse communities, while maximizing profits and strengthening its brands which include Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp . The Company's management believes that its socially oriented actions have a positive impact on the Company, its employees and its shareholders.
Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, "forward-looking information"). In some cases, but not necessarily in all cases, forward looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information.
Statements containing forward-looking information are not historical facts but instead represent management's current expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.
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SOURCE Charlotte's Web Holdings, Inc.