Johnstons of Elgin achieves B Corp status
12/05/2023
UKFT member Johnstons of Elgin has become a Certified B Corporation, in the same year the company celebrates its 225th anniversary.
B Corp status recognises the Scottish company’s work to demonstrate high standards of verified performance, accountability, and transparency covering everything from employee benefits and charitable giving through to supply chain practices and input materials.
CEO Chris Gaffney said: “Johnstons of Elgin are proud to announce that we are now a Certified B Corporation. There are many certifications and membership organisations doing a lot of good work, but what makes the B Corp movement special is the ‘Mission Lock’. This goes to the heart of the purpose of the organisation and requires changes to our founding documents, our Articles of Association.
“Companies have a legal obligation to look after the interests of their shareholders. This is, of course, important, as a business can only do good in the world if it is thriving and making returns for shareholders and profits for re-investment, but it does not fully reflect the importance of other stakeholders. Becoming a B Corp requires a commitment to a legal change to reflect the importance of looking after people and the planet, as well as profit, the ‘triple bottom line.
“Johnstons of Elgin have therefore changed our articles so that the company is run ‘for the benefit of its members as a whole and through its business and operations, to have a material positive impact on society and the environment.”
Johnstons’ B Corp status builds on the company’s recent Queen’s Award for Enterprise for work around sustainability but the firm recognises that minimising environmental impact is a continuous process.
Chris added: ‘The team at Johnstons of Elgin have done great work to get us to the point where we could meet the rest of the stringent criteria required to become a B Corp, and this, in turn, has made us a better company. There remains much work to do, but it is very fulfilling as a Chief Executive and a Board to be so clearly empowered by our family owners to make decisions that will continue us on a journey to becoming a fully sustainable company.”
You can read more about Johnstons of Elgin’s sustainability journey on its Sustainability Hub.
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Johnstons of Elgin is a UKFT Member. Click on the link below to learn more about the UKFT membership:
Find out more about B Corp Certification here.