From the colombian laws (Law 1901 of 2018) MACS has become a BIC company, by adopting the status of Collective Interest Benefit (BIC); this redefines the business model of the company, based on three purposes:
- 1. To create economic value
- 2. To create social value
- 3. To create environmental value
This purpose will be achieved by guaranteeing transparency in the reporting of its business impact. In addition, the actions carried out in commercial and economic activities must contribute to the improvement of the well-being of MACS employees and the protection of the environment through five work dimensions:
- 1. Business model
- 2. Corporate governance
- 3. Labor practices
- 4. Environmental practices
- 5. Community practices.
BIC companies capture the advantage of being more visible in the local, national and international markets, allowing them to increase the reputational value of the market, build customer and supplier loyalty, attract private investment and improve human talent.
BIC companies can access economic or tax incentives, be part of community networks with similar purposes and manage business activities with the communities and the environment.
The stakeholders who are linked to the BIC companies have a positive impact for them: Investors, investment groups, committed collaborators, responsible consumers, entrepreneurs, communities and territories.
The BIC companies must prepare and make available on their website a report stating the activities of Collective Benefit and Interest developed in each of the five work dimensions, and will be audited and supervised by the Superintendency of Companies of Colombia, with strict information reporting requirements.
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