New York—A third party can now assure customers their money is well spent with Monica Rich Kosann.
The jewelry design company is now a Certified B Corporation. The designation is awarded to socially and environmentally friendly companies. According to Certified B, “Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose. “B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.” Currently, there are 3,522 Certified B companies across 150 industries in 74 countries. Some of the most well-known are Vermont ice cream maker Ben & Jerry’s and social media company Hootsuite.
Monica Rich Kosann (MRK) CEO Rod Kosann explained that receiving the B Corp designation through B Labs “was a long process” that took more than a year and evaluated five areas: governance, workers, customers, environment and community. Being a B Corp company means continuous evaluation and improving upon business practices, Kosann explained. Currently, some examples of the brand’s social and environmental considerations include working with vetted manufacturing partners, including many precious metals suppliers that are also members of the Responsible Jewelry Council.
Dream Crescent Moon Charm , $3,650.00
Additionally, more than half of the gold the company uses is recycled.
On the packaging front, MRK utilizes 70 percent recycled cardboard packaging for jewelry boxes and 100 percent Sustainable Forestry Initiative-certified tissue paper. The company’s UPS Ground Shipping is conducted through their carbon offset program, which supports verified emission reduction projects around the world. When it comes to battling gender inequality in the workplace, 92 percent of the MRK team are women, with all business managers other than the CEO being women. Through the years, MRK has raised money for several charitable organizations through its Monica Cares initiative. Recent efforts have benefited front line health care workers, Blessings in a Backpack, Embrace Race, and the Kips Bay Boys and Girls Club. A current selection of specially designed jewels from the Poesy Ring Collection donate more than 50 percent of proceeds to partner organizations North Shore Animal League America and Women in Need.
MRK will undergo an additional review process to maintain its B Certification every three years.
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By Ashley Davis , National Jeweler