At Ancestral Organics, we are proud to say we are a B.I.C. Company. In Spanish, B.I.C. stands for Beneficio e Interés Colectivo, meaning collective benefits and interests. This classification has its origins in the United States and has been adopted worldwide in numerous countries to promote triple-impact companies who work towards similar goals such as economic, environmental and social sustainability. Colombia integrated this business model in 2018 and is now one of the five countries in Latin America that legally recognizes these societies.
Being Part of the B Corp. Movement
The necessity for change has become inevitable. Each day, we are seeing the drastic and detrimental effects of phenomena such as climate change, social injustice, contamination, gender inequality, employee exploitation, and other deteriorating conditions. Nevertheless, in the midst of these chaotic times, great minds created a sustainable business model based on environmental, economic and social impact that works in accordance with the United Nations Sustainable Development Goals-- the B Corp. Movement.
The B Corp. Movement is responsible for certifying corporations that comply with this innovative and necessary business model by measuring the triple-impact of a company based on the social and environmental performance, legal commitments, and public transparency. This rigorous certification is administered by the B Lab, a non-profit organization, and has currently certified more than 4,000 corporations in 77 countries and 153 different industries.
Sistema B
In efforts to expand the B Corp. Movement, Sistema B emerged to promote B corporations and other actors in Latin America who are heading towards the same direction of economic, social and environmental responsibility. In 2018, Colombia became the first Latin American country to accept this system and provide legal support for companies seeking these certifications.
B.I.C. Societies are commercial companies that voluntarily combine their economic and commercial profits with actions that favor the environment, the well-being of the employees and vulnerable groups, and social equality collectively. These companies are able to increase their value proposition, create a confident and transparent relationship with their clients and other entities, work together with like-minded companies, assure fair and favorable working conditions for their employees, and have access to government subsidies as a way to encourage further triple-impact. This certification allows for the company to be advantageous and competitive because it contributes to five major dimensions: 1. Business Model, 2. Corporate Governance, 3. Labor Practices, 4.Environmental Practices, and 5. Community Practices.
The Next Step for Ancestral Organics
We are honored to have received the B.I.C. Society certification, handed to us directly by the President of Colombia, in 2020 and are committed to keep evolving in this direction of collective benefits and interests. As part of the B Corp. movement, we are counting on progressing to become a certified B Corp. in the following years in hopes of growing and expanding our reach to improve more lives.
Sources/ More information regarding B.I.C. Societies and the B Corp. Movement can be found at:
https://www.mincit.gov.co/minindustria/sociedades-bic/ebook-sociedades-bic-02dic.aspx