Business
American Resources Corporation's Wholly Owned Subsidiary, American Rare Earth, Achieves Pending Certified B Corporation Status
Company's Rare Earth Division Hits Milestone to Use Power of Business as a Force of Good and Strengthen StakeholdersFISHERS, IN / ACCESSWIRE / December 11,
About this update from American Resources Corporation
[{"type":"text","content":"Company's Rare Earth Division Hits Milestone to Use Power of Business as a Force of Good and Strengthen StakeholdersFISHERS, IN / ACCESSWIRE / December 11, 2020 / American Resources Corporation (NASDAQ:AREC) (\"American Resources\" or the \"Company\"), a next-generation and socially responsible supplier of raw materials to the new infrastructure marketplace, today announced that its wholly owned subsidiary, American Rare Earth LLC, has obtained Pending Certified B Corporation status through the B Lab.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.Mark Jensen, Chairman and CEO of American Resources Corporation commented, \"We're proud that American Rare Earth has achieved Pending B Corp status. We believe this is another example of how we are always looking to innovate and think outside the box to drive efficiencies and real solutions. Reestablishing our national supply chain of rare earth elements and critical materials is a broad problem that will take the collaboration of all stakeholders. Our ability to produce critical raw materials in an environmentally positive way is unique, and we are excited to do our part in providing efficient, comprehensive solutions that also have the highest standards of transparency, sustainability, and social and environmental good. We believe American Rare Earth greatly represents the type of company which qualifies as a B Corp and to lead us in an emerging economy.\"American Rare Earth completed the B Impact Assessment (BIA) with the B Lab, a rigorous, comprehensive and industry-specific tool designed to measure its social and environmental impact. The BIA measures the operational impact and impact of a company's business model amongst aspects such as Governance, Workers, Community, Environment and Customers, to see if it can qualify as a B Corporation with a pending status. American Rare Earth received a score high enough to qualify as a Pending B Corporation and over the next twelve months, will have the opportunity, and exciting challenge, to work towards a Certified B Corporation by completing the performance req...