Bansk Group Announces Plastic Negative and Carbon Neutral Certifications
NEW YORK, May 24, 2022 /PRNewswire/ --Bansk Group ("Bansk"), a consumer-focused private investment firm dedicated to building distinctive consumer brands, today announced that it has received Plastic Negative Workplace and Carbon Neutral certifications from industry-leading third-party accreditors, further demonstrating the firm's commitment to sustainability.
As part of its Plastic Negative Workplace certification, received from rePurpose Global, the world's leading Plastic Action Platform, Bansk is committed to offsetting twice as much plastic waste as the firm generated in 2021 across its employees and corporate office in New York. The certification will support rePurpose Global's Project Neela Sapana in Chennai, India. This project, the first-of-its-kind, ethically collects and recovers energy and minerals from low-value, single-use plastic waste for use in the creation of cement, resulting in reduced greenhouse gas emissions and environmental contamination. Additionally, the employees have taken pledges to reduce their individual plastic footprints.
As part of its Carbon Neutral certification, designated by Moss.earth, a Sao Paulo-based climate technology company, Bansk is committed to fully offsetting its carbon footprint through the purchase of carbon credits. These credits, in turn, will provide essential funding for carbon abatement and conservation activities, including native forest preservation, deforestation prevention, reforestation, and natural regeneration as well as carbon sequestration through sustainable agriculture practices. In partnering with Moss.earth, Bansk will support the organization's activities across four of its projects in Agrocortex, Fazenda Fortaleza Ituxi, and Santa Maria in Brazil and Madre de Dios in Peru.
"These certifications mark another important step forward in our ESG journey, underscoring the depth of our commitment to sustainability," said Bart Becht, Senior Partner and Chairman of Bansk. "As part of our efforts, we will continue to work closely with our partner brands and management teams to set and achieve ambitious ESG goals that have a positive impact on both people and the planet."
"Sustainability is integral to everything we do at Bansk, and we are proud to partner with and support the incredible initiatives rePuporse Global and Moss.earth are executing around the world," said Mastak Pal Kaur, ESG Director of Bansk. "As investors and operators in the consumer products space, we are acutely aware of our environmental and social impact at both the portfolio company and corporate level, and we are committed to supporting impactful sustainability initiatives worldwide while continuing to work closely with our partners to innovate and build brands that share these values."
Through its investments across the consumer landscape, the Bansk team has prioritized partnering with exceptional brands that prioritize ESG and sustainability initiatives. Most recently, the firm announced it will acquire haircare brands amika and Eva NYC, which intend to achieve a B Corporation ("B-Corp") certification in 2022. While in 2020, Bansk acquired Ethique, a mission-driven, B-Corp-certified beauty and personal care brand known for formulating its products with the highest quality, sustainably-sourced ingredients and for its longstanding commitment to the environment through its waterless, plastic-free formats and compostable packaging.
About Bansk Group
Founded in 2019, Bansk Group is a New York-based private investment firm focused on investing in and building distinctive consumer brands. With over $2.0 billion in assets under management, the firm partners with differentiated brands across four primary consumer categories: beauty & personal care, consumer health, food & beverage, and household products.
Bansk's tenured group of investors and operators have invested more than $30 billion of equity capital across more than 40 transactions with some of the most innovative and well-known consumer companies in the world. With more than three decades of investment experience in the consumer products industry, a global network of relationships, and a tested value creation playbook, Bansk seeks to partner with exceptional founders and management teams to drive outsized organic and acquisitive growth and to position brands for enduring long-term success in the evolving consumer landscape.
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SOURCE Bansk Group
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