By Aditi Vaishali Thapar
In 2010, two professionals set out to make a difference by joining Columbia’s M.S. in Sustainability Management program. Just over a year later, Samuel Abbay and JD Capauno founded the New York based consulting company Closed Loop Advisors. Today, they’ve taken another stride along that path by getting their company certified as a B Corporation.
Closed Loop Advisors is a boutique management consulting organization that focuses on helping organizations become increasingly sustainable. The firm’s services help clients regardless of where their organization is along its sustainability journey. This can range from assessing an organization’s environmental performance and setting sustainability targets, to uncovering supply chain efficiencies, or project management. Closed Loop tailors a sustainability management plan to fit each client’s needs.
The firm’s expertise spans the private, non-profit and public sectors, and includes a broad array of private sector industries. Among other projects, Closed Loop has conducted a feasibility study for New York Mayor’s Office of Long Term Planning and Sustainability (OLTPS) powering street food vendors (trucks and carts) from grid energy rather than gasoline or diesel generators; worked with the Natural Resources Defense Council (NRDC) to refine their sustainable operations plan, a highlight of which includes pursuing LEED Platinum certification and Living Building Challenge Petal Recognition for an office build-out; and worked with Etsy to develop a sustainability strategy that set reduction targets for energy, greenhouse gas emissions.
“For us, becoming a Certified B Corp means more than meeting high standards; it’s about being part of a movement that is showing business can be successful while making decisions that are good for people and the planet,” says Capuano.
B Corps are certified by B Lab, a non-profit that serves a global movement of entrepreneurs who use the power of business to solve social and environmental problems. By integrating becoming a B Corp with legislation and Global Impact Investing Rating System (GIIRS) ratings and analytics, B Lab helps firms attract both customers and talent.
By voluntarily meeting higher standards of transparency, accountability, and performance, Closed Loop, alongside other B Corps, is distinguishing itself by offering a positive vision of a better way to conduct business. Closed Loop scored an impressive 96 on B Corp’s B Impact Assessment, with a score of 30 in the environmental field, where the median result is 9.
Closed Loop has joined over 780 Certified B Corporations from more than 60 industries in 27 countries that are committed to changing the world, including Ben & Jerry’s, Etsy, Patagonia and Cabot Creamery. All these companies have a 1 unifying goal – to not only be the best in the world, but to be the best for the world.
Aditi Vaishali Thapar is a student in the M.A. Climate and Society program and is interested in climate-related health and sustainability issues.