After 65 years of promoting values linked to the protection of the ecosystem and the community, we are proud to announce that Omtra has officially become a Benefit Company as of Monday, November 15, 2021. Omtra is among the first Italian companies to take this step, the first ever in its sector in Italy, and we also believe in the entire world, to do so.

Being a Benefit Company: what does that mean?

Benefit Companies are concretely committed to creating a positive impact on society and on the environment. Social responsibility and environmental sustainability represent such important values that they become goals, part of the company’s mission. In Italy, this type of legal form is recognized by the “Stability Law” (Legge di Stabilità 208/2015) and represents an innovative way of doing business. In fact, Benefit Companies, do not only pursue the economic interests of the main stakeholders (such as the owners and shareholders) but also aim to contribute to the well-being of the community and the environment.

The legal aspect also protects this commitment in the long term. The statute is effective even in case of changes of ownership (such as mergers and sale) and of strategic choices. By law, Benefit Companies must be transparent, attaching and publishing a corporate social responsibility report together with the financial statements. In these reports, they must state the objectives achieved, those not attained and what is expected for the following year.

In Benefit Companies the typical values of profit logic are flanked by the ethical principles of environmental sustainability (such as attention to renewable energy sources and waste reduction) and social responsibility (such as gender equality and inclusion). Therefore, while still profit-making companies, they reconcile in their core business the search for profit with the creation of a shared and continuous value for the environment and for the people.

COP26: Sustainability is a duty of companies

By becoming a Benefit Company, Omtra embodies the values of environmental sustainability and social responsibility shared during the recent United Nations Climate Change Conference of the Parties (COP26).

“The time for words has now moved to the time for action", said Queen Elizabeth in a video message. The queen was unable to take part in the conference, so made way for Prince Charles. The heir to the British throne held an interesting speech in which he invited private companies to contribute with concrete actions to the protection of the planet. Omtra has chosen to accept the challenge from the British Crown to become a Benefit Company and further commit itself to the protection of the planet.

Video credits: Sky News