Tubing Manufacturer NewAge(R) Industries is Now a Certified B Corporation(TM)
By: NewAge Industries Inc.
Since NewAge's founding as a plastic tubing supplier in 1954, the company has strived to operate as a good corporate neighbor, in part by donating to worthy charitable organizations and taking steps for proper waste handling and recycling. As the company grew, so, too, did its outreach.
Sustainability and green projects became key focuses, and supporting the local community, in many ways, grew in importance. NewAge began hosting Red Cross blood drives and became a supporter of the U.S. Marine Corps Reserves' annual Toys for Tots program. Food and clothing drives were organized. A rooftop solar array was installed to power the company's headquarters with renewable energy. And the charitable contributions and recycling practices, including proper e-waste recycling, continued.
But the owners of NewAge didn't only care for other people and organizations. They focused on supporting the company's employees and their physical, mental, and financial well-being. Retirement plans helped provide funds for life after NewAge, and a bonus plan was introduced.
Next came employee ownership, when then-owner Ken Baker transferred thirty percent ownership of NewAge Industries by means of an Employee Stock Ownership Plan (ESOP). In August 2019, the company became fully owned by its employees.
So, what led to the decision to apply for Certified B Corporation status?
"It was the next step in our evolution as a corporation. Companies that can do good things for others and the environment, all while remaining profitable, are well regarded," said Ken Baker, NewAge's CEO.
According to B Lab, these organizations "meet the highest standards of verified social and environmental performance, transparency and accountability."
Baker continued, "We're audited for financials and quality, but no one had examined us for how we operate or for our environmental practices. Being certified as a B Corp differentiates us from other suppliers, especially those in the biopharm and pharmaceutical industries. We're independent, employee owned, and dedicated to staying that way."
Learn more about NewAge's B Corp Impact Score online at https://bcorporation.net/
# # #
NewAge Industries Inc.