USA – Danone Manifesto Ventures, the New York-based venture arm of Danone, has announced that it has become the first corporate venture fund to achieve B Corporation Certification independently.
This prestigious designation follows a rigorous certification process by B Lab, a third-party non-profit, and recognizes companies that are committed to conduct business with the highest standards of social and environmental performance, transparency and accountability to balance profit and purpose.
B Corp Certification is the only certification that measures a company’s social and environmental performance in a holistic way.
To become certified, Danone Manifesto Ventures met stringent performance requirements outlined in the B Impact Assessment, a globally-recognized standard that looks at the impact a company has on the environment, employees, customers and broader community, as well as the company’s accountability, governance, and transparency practices.
Companies earn an audited minimum score of 80 out of 200 possible points and recertify – with the aim to continuously improve – every three years.
“Since our founding two years ago, we have focused as a venture group on innovative companies promoting a healthy and sustainable future of food.
The B Corporation certification demonstrates the progress we are making and reflects our team’s collective efforts, including our portfolio companies, to support the health, wellness and environment of our communities.
This important milestone will reinforce our commitment towards entrepreneurs who embrace our view that success is not only measured by profit but also by social and environmental impact”, said Laurent Marcel, Managing Director of Danone Manifesto Ventures.
The company added that the Certified B Corporations are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.
Approximately 30% of Danone’s global business is now covered by B Corp certification, marking significant progress towards the company’s ambition to become one of the first certified multinationals.
“As an investor and partner to early stage companies, we believe that Danone Manifesto Ventures’ leadership and commitment to sustainability will help empower the next generation of businesses to operate with strong environmental and social principles.
We are proud to welcome Danone Manifesto Ventures as the first independently certified corporate venture fund to join our global community of Certified B Corporations that are dedicated to operating their business as a force for good,” said Jay Coen Gilbert, Cofounder and Managing Partner at B Lab.