SAN JOSE, Calif., Feb. 8, 2012 (GLOBE NEWSWIRE) -- Sugarmade, Inc. (OTCBB:SGMD), a marketer and distributor of sustainable tree free paper products, announced today that it is a certified Better Corporation (B Corp).
"Becoming a B Corp is core to what we represent as a company," said Scott Lantz, chief executive officer of Sugarmade. "We are proud to be the first and only public designee and hope we can encourage other companies to follow our lead."
B Corps, unlike traditional businesses, adhere to the following: Meet comprehensive and transparent social and environmental performance standards; Meet higher legal accountability standards; Build business constituency for public policies that support sustainable business.
In order to obtain B Corp status companies must pass a rigorous audit in which their social and environmental impacts are assessed. Once the company passes the audit, the company must then adopt the B Corp legal requirement to expand the responsibilities of the corporation to include consideration of the interests of employees, consumers, the community, and the environment.
About Sugarmade, Inc.
Headquartered in San Jose, CA, Sugarmade, founded in 2009, engages in marketing and distributing non-tree-based paper products, made from sugarcane bagasse, which is the residual of the sugar manufacturing process, and bamboo. Products include printing, writing and copy paper, among other items, which Sugarmade has begun marketing in the United States and intends to market on a global basis. The company ensures superior quality through rigorous testing by nationally recognized testing organizations. For more information, please visit www.sugarmade.com.
About B Corp
Certified B Corporations 1) meet rigorous standards of social and environmental performance; 2) legally expand their corporate responsibilities to include consideration of stakeholder interests; and 3) build collective voice through the power of the unifying B Corporation brand. As of January 2012, there are over 515 Certified B Corporations from over 50 industries, representing a diverse multi-billion marketplace.
About B Lab
B Lab is a nonprofit organization dedicated to using the power of business to solve social and environmental problems. B Lab drives systemic change through three interrelated initiatives: 1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between "good companies" and just good marketing; 2) accelerating the growth of the impact investing asset class through use of B Lab's GIIRS impact rating system by institutional investors; and 3) promoting supportive public policies, including creation of a new corporate form and tax, procurement, and investment incentives for sustainable business.
To learn more about B Corporations visit www.bcorportation.net.