Società Benefit
Since its foundation, Circularity has voluntarily assumed the status of a Benefit Corporation, to reinforce the commitment, at the core of its business, to improve the environmental and social context in which it operates.
Circularity, as a Benefit Company, voluntarily pursues, in addition to the purpose of profit, one or more purposes of common benefit in the exercise of its business activity, where common benefit means the pursuit of one or more positive effects (which can also be pursued by reducing the negative effects) on people, communities, territories and environment, cultural and social assets and activities, bodies and associations and other stakeholders.
As a Benefit Company, it undertakes to realise these aims of common benefit in a responsible, sustainable and transparent manner.
The management of Benefit Societies requires the directors to report transparently and comprehensively on their activities through an annual impact report, describing both the actions carried out and the plans and commitments for the future. At the time of drafting this document, Benefit Societies do not enjoy any economic or fiscal incentives, so in addition to representing value for society, they do not cause any burden on taxpayers.
The Impact Report that Benefit Societies are required to prepare each year is an annex to the annual financial statements and contributes to increasing corporate transparency by supplementing the financial information with a series of important non-financial indications relating to the Common Benefit purpose included in the articles of association. For the quantitative measurement of impact, Circularity has chosen the B Impact Assessment as its measurement protocol.
