Loose Leaf Tea Company Recognized for Their Commitment to Triple Bottom Line by B Corp
The Daily Globe - August 29,2011
The Tea Spot is proud to announce their designation as a Certified B Corporation™. Certified B Corps (where B stands for ‘Benefit’) are a new kind of company that uses the power of business to solve social and environmental problems. Unlike traditional corporations, Certified B Corporations are legally required to consider the impact of their decisions on their employees, suppliers, community, consumers, and environment. Jay Coen Gilbert, Cofounder of B Corp, said "B Corporation certification is key to distinguish good companies from just good marketing. With their commitment to the triple bottom line, The Tea Spot stands as a leader in the movement for a better way to do business”.
The Tea Spot is a for-profit philanthropic business whose mission is to foster wellness by making loose leaf tea an everyday luxury. The Boulder, Colorado-based woman owned and operated company was founded by Maria Uspenski in 2004. The Tea Spot has reached many important goals with respect to new product development and introduction, bottom line profitability, and social entrepreneurship. The company has stayed true to its mission by donating 10% of every sale in-kind toward cancer wellness and community programs. In 2011 alone, The Tea Spot has to date made over $100,000 in product donations as a part of this “10% Pledge”.
Uspenski explained her motivation for pursuing the B Corp certification. “Each day, my colleagues and I strive to make The Tea Spot a better business. With every incremental improvement in our customer service, internal operations and product marketing or design, we all contribute in a positive way to the company’s value on many levels. I view our B Corp Certification as a process that can help me build an even more sustainable and valuable company environment for my employees. It’s time to have our company move forward in our development with a vigilant watch on all aspects of what we choose to be responsible for as a business.”
The process for becoming a Certified B Corp takes companies through an assessment tool and interview that makes the company’s leadership closely examine their contributions to all stakeholders - from the end consumer, to employees, the community, and the environment. Certified B Corporations meet higher standards of social and environmental performance, transparency, and accountability.
ABOUT B CORPCertified 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 July 2011, there are over 425 Certified B Corporations from over 50 industries, representing a diverse multi-billion marketplace.