Editor’s note: A version of this article ran in the May issue of BRAIN.
PORTLAND, Ore. (BRAIN) — King Cycle Group, Inc. has become the first industry manufacturer to become a Certified B Corporation, meaning it’s “a purpose-driven business seeking to benefit all stakeholders, not just shareholders.”
B Corps are certified by the nonprofit B Lab, which verifies that a company achieves a minimum score for its impacts on workers, customers, community and the environment.
The certification requires a company to make its impact report publicly available and amend its legal governing documents to require its board of directors to balance profit and purpose.
There are about 3,000 certified B Corporations worldwide, and King Cycle Group is the only bike company.
“Since Chris (King) founded the company in 1976 we have operated with two goals in mind: manufacture high-quality bike parts in an environmentally responsible manner, and have those parts outperform and outlast the competition, staying on bikes and out of the landfill.
We’re proud to say that we still believe in these principles and are expanding them,” the company said.
The company said its purpose is to benefit employees, customers and the planet.
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