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Paramo Snacks becomes a BIC company, ratifying its commitment in favor of sustainable development and the generation of shared value.

The situation that we face today as a country and society represents many challenges but also opportunities to work for a new economy that is sustainable and inclusive, in the search for social impact and the generation of shared value. 

Paramo Snacks, a purpose-driven company that was created to support programs led by peasant communities of the Páramo de Guerrero, ratifies its commitment in generating triple impact by establishing itself as a BIC company. The company seeks to promote inclusive, sustainable strategies committed to the economic, social and environmental development of the country. 

The figure of Commercial Benefit and Collective Interest Companies (BIC) (Law 1901 of 2018), which was regulated by decree 2046 of 2019, refers to companies that go beyond the profit interests of their shareholders and incorporate specific practices to generate an impact in social and environmental matters. 

The business practices of the BIC Societies follow the United Nations Sustainable Development Goals (SDGs) and are aligned with the commitments and strategies of the National Government in terms of human rights, environmental protection and respect for workers’ rights. 

During the presentation of the decree, in November of last year, the Minister of Commerce, Industry and Tourism, José Manuel Restrepo, pointed out that “the BIC condition allows companies to distinguish themselves by complying with labor, social and environmental standards”, which gives them recognition and an increase in their reputation in the business ecosystem. 

What are BIC companies? 

BIC Companies incorporate business practices in 5 dimensions:

The Collective Interest and Benefit Societies (BIC) model was created to have a new generation of purpose-driven companies that articulate efforts in favor of sustainable development, while increasing their reputational value and differentiating themselves in the market as a company that is socially and environmentally responsible. 

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