In 2023, Kolver adopted the legal form of a Benefit Corporation, officially becoming part of the group of companies that combine profit-making with a commitment to pursuing social and environmental goals, incorporating this objective to contribute to the common good into their corporate purpose.
Key features of a Benefit Corp (Società Benefit, in Italian) include:
- Dual Mission: The company pursues both profit and a positive impact on society and the environment.
- Transparency: There are formal guidelines and requirements for transparent reporting on the company's social and environmental performance.
- Accountability: Directors and managers are accountable not only to shareholders but also to stakeholders impacted by the company's activities, not solely limited to the surrounding community or the specific sector in which the company operates.
- Flexibility: While pursuing social and environmental goals, the company still operates as a for-profit entity.
Respect and attention towards people, the environment, and the community to which Kolver belongs thus become indispensable elements of a new, dutiful, and ethical philosophy of corporate development, which Kolver is now pioneering in the world of industrial precision electric screwdrivers.
These are the initial actions we have taken to give substance to our commitment:
- We have calculated our Carbon Footprint with the aim of setting a baseline upon which to improve year after year.
- We are building our new zero-emissions headquarters and electric screwdriver production line, a modern facility with expansive, state-of-art solar panels, LED lighting, heat-pump powered heating, a panoramic terrace, green areas and many other elements for the benefit of both the environment, our internal team and our visiting partners.
- We are actively extending our social and environmental sustainability reach beyond our local area, into the international community. In fact, we support Doctors with Africa Cuamm with donations and in-person visits to their healthcare centers.
Can a screwdriver be sustainable? The environmental impact of electric screwdrivers.
The advantages of electric tools over pneumatic ones are well known: an electric screwdriver consumes over 90% less energy than a pneumatic one, in addition to being quieter, lighter, and more ergonomic.
Furthermore, at Kolver, we endorse revitalization efforts that champion the circular economy and sustainable manufacturing. We encourage the recycling of outdated and energy-intensive screwdrivers, offering our customers discounts on our products even when recycling products from our competitors.
We also actively emphasize product repair rather than replacement, as illustrated in the following case study.
Kolver's strategic mission is to become the global leader in the production of precision electric screwdrivers for industrial use. However, our commitment extends beyond delivering a diverse array of well-designed, functional products; we prioritize building a sustainable business development model that is attentive to energy consumption and waste reduction, benefiting both the environment and the well-being of future generations.
Significantly, our ESG (Environmental, Social, and Governance) goals are now integral to our corporate ethos, underscored by our adoption of the Benefit Corporation status. This not only reflects our dedication to profit but also emphasizes our enduring commitment to the common good, marking a pivotal step towards a more responsible and sustainable future.