North
America's largest hemp CBD company is recognized for
its rigorous standards for social and environmental
performance, transparency, and accountability
BOULDER, Colo., Aug. 28, 2020 /CNW/ - (TSX: CWEB) (OTCQX:
CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or
the "Company"), the hemp CBD market leader, today announces it has
earned B Lab's B Corporation™ certification to further expand the
ways in which the Company can fulfill its mission of benefitting
the planet and all who live upon it. The Charlotte's Web
family is honored to now join the B Corp community of more than
3,500 other B Corps in 150 industries and 74 countries around
the world.
![Charlotte's Web Holdings, Inc. Logo (CNW Group/Charlotte's Web Holdings, Inc.) Charlotte's Web Holdings, Inc. Logo (CNW Group/Charlotte's Web Holdings, Inc.)](https://mma.prnewswire.com/media/1245169/Charlotte_s_Web_Holdings__Inc__Charlotte_s_Web_Earns_B_Corporati.jpg)
Certified B Corporations™ (also referred to as B Corps™) are
for-profit companies that use the power of business to build a
more inclusive and sustainable economy. B Corps are required to
consider the impact of their decisions on all stakeholders:
customers, workers, communities, and the environment. These
requirements are aligned with Charlotte's Web's socially conscious
founding principles, and formalizes its commitment to
environmental, social, and governance issues for
stakeholders. In connection with the certification process,
and as approved by the shareholders of the Company at the
August 2019 annual general and
special meeting, the Company has converted to a "benefit company"
in accordance with the Business Corporations Act
(British Columbia).
Since 2006, more than 60,000 companies globally have
participated in the B Impact Assessment, but only 3,499 have been
certified B Corp to date, which is indicative of the rigorous
standards set by B Lab in order to become a certified B Corp.
"Becoming a certified B Corp was important to Charlotte's Web as
it aligns with our vision for conducting our business, from seed to
shelf, to benefit the greater good in society, our environment, for
our employees and our communities," said Deanie Elsner, Charlotte's Web's CEO. "This was
a comprehensive, precise and illuminating process, teaching us
where we are strong and where we can focus for continuing
improvement."
Founded in 2006, the B Corp community works toward reduced
inequality, lower levels of poverty, a healthier environment,
stronger communities, and the creation of high-quality jobs with
dignity and purpose. The formal certification process uses
credible, comprehensive, transparent, and independent standards of
social and environmental performance.
"It's exciting to have such a pioneering company like
Charlotte's Web join our B Corp Community," said Lindsey
Wilson, B Lab's Business Development Manager, "This recognition
formally acknowledges all the good work Charlotte's Web has been
doing with regenerative and organic agriculture and its impressive
history of support of community sectors in need."
"We welcome Charlotte's Web to our global community of positive
change makers, each a for-profit company, using the power of more
conscious decision-making to serve the greater good for the planet
and its people," said Kim Coupounas, B Corp's Global
Ambassador.
For more information on Charlotte's Web B Corp
Certification: www.charlottesweb.com/bcorp
To see our official "It's Our 'B' Day
Postcard: www.charlottesweb.com/b-corp-bday-postcard
About B Corporations™
Certified B Corporations are for-profit companies that use the
power of business to build a more inclusive and sustainable
economy. They meet the highest verified standards of social and
environmental performance, transparency, and accountability. To
date, there are more than 3,400 B
Corps in 150 industries and 74 countries around the world.
About B Lab™
B Lab is a nonprofit that serves a global movement of people using
business as a force for good™. Their initiatives include B Corp
Certification, administration of the B Impact Management
programs, and advocacy for governance structures like the
benefit corporation. B Lab's vision is of an inclusive and
sustainable economy that creates a shared prosperity for
all.
About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc., headquartered in Boulder, Colo., is the market leader in the
production and distribution of innovative hemp-derived cannabidiol
("CBD") wellness products. The Company was founded by the Stanley
Brothers with a mission to unleash the healing powers of botanicals
with compassion and science, benefitting the planet and all who
live upon it. The Company's premium quality products start with
proprietary hemp genetics that are 100-percent American farm grown
and responsibly manufactured into hemp-derived CBD extracts
naturally containing a full spectrum of phytocannabinoids,
including CBD, terpenes, flavonoids and other beneficial hemp
compounds.
Charlotte's Web product categories include CBD Oil
tinctures (liquid products), CBD capsules, CBD
topicals, as well as CBD pet products. Charlotte's Web
hemp-derived CBD extracts are sold through select distributors,
more than 21,000 brick and mortar retailers, and online through the
Company's website at www.CharlottesWeb.com. The rate the
Company pays for agricultural products reflects a fair and
sustainable rate driving higher quality yield, encouraging
regenerative farming practices, and supporting U.S. farming
communities.
Charlotte's Web Holdings, Inc. is a socially and environmentally
conscious company and is committed to using business as a force for
good and a catalyst for innovation. The Company weighs sound
business decisions with consideration for how its efforts affect
its employees, customers, the environment, and diverse communities,
while maximizing profits and strengthening its brands which include
Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp. The Company's management believes
that its socially oriented actions have a positive impact on the
Company, its employees and its shareholders.
Forward-Looking Information
Certain information in this news release constitutes
forward-looking statements and forward-looking information
(collectively, "forward-looking information"). In some cases, but
not necessarily in all cases, forward looking information can be
identified by the use of forward-looking terminology such as
"plans", "targets", "expects" or "does not expect", "is expected",
"an opportunity exists", "is positioned", "estimates", "intends",
"assumes", "anticipates" or "does not anticipate" or "believes", or
variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might", "will"
or "will be taken", "occur" or "be achieved". In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances contain
forward-looking information.
Statements containing forward-looking information are not
historical facts but instead represent management's current
expectations, estimates and projections regarding the future of
our business, future plans, strategies, projections, anticipated
events and trends, the economy and other future conditions.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date of this news release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information.
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SOURCE Charlotte's Web Holdings, Inc.