This report is our annual accounting to our employees, customers, suppliers, and communities. Its purpose is to celebrate what we have accomplished, acknowledge our shortcomings, and share our upcoming goals and intentions as we move forward towards ever greater social and environmental stewardship.

As we work to fulfill our mission of helping people to achieve health and well-being through the wisdom of Ayurveda, we are grateful for the opportunity to pause and reflect on where we’ve been and where we are now. Thank you for taking the time to share in our journey. 

OUR PROMISE 

Banyan is on a mission to be a healing force in the world by uplifting and empowering the well-being of individuals, communities, and the environment. We are fueled by a passion for Ayurveda and its inherent understanding that our health and the health of the planet are deeply intertwined.

A steady commitment to our three pillars—organic, sustainably sourced, and fair trade—keeps us in line with our mission and ensures that you, dear customer, receive the highest quality herbs and products. Our B Corporation® and Fair for Life certifications further ensure that we meet the most rigorous standards within the herbal industry. 

2023 Celebrations

• We served 459,642 customers (up 9% from 2022).
• Our current B Corp score is 107.8 (112% higher than the median B Impact Assessment score).
• Our Fair for Life Fair Trade Certification score is 398 (95% of applicable total points!).
• We had 30 certified Fair Trade ingredients at the end of the year.
• 38 products were newly certified as Fair Trade in 2023.
• We released four amazing new products—Bitter & Bold, Masala Chai, Turmeric Ghee, and Chai Spiced Ghee.
• After nine years of research and testing, we began transitioning to new sustainable packaging for tablets and drink mixes.
• We made seven trips to visit our farm and sourcing partners (including trips to India, Nepal, Costa Rica, and Florida).

Stories to Highlight

• In the midst of a rapidly changing world, we are dedicated to product development that honors traditional Ayurveda while also staying true to our core commitment of sustainability. Sometimes this means adjusting the ingredients in traditional formulas like Chyavanprash to ensure we can offer a truly sustainable blend without relying on threatened or endangered plant species.
• In 2023, we underwent the rigorous process of recertifying as a B Corporation. Our B Impact Assessment (BIA) score increased by 18 points (or 20%) from our last assessment in 2019, for a new score of 107.8! Our improvements included:
• 38% increase in the community section of the assessment, including improvements in supply chain poverty alleviation.

• 400% point increase in the customer stewardship section, including recognition for quality control, third party certifications, and excellent customer service.

“Working for a B Corporation has many benefits, but one of my favorites is knowing that my voice will be heard. As Shipping Manager, I was involved with proposing a change from  plastic mailing envelopes to a more environmentally-friendly paper option and I am happy to report that we now use paper envelopes whenever possible.” —Jonathan Tallent, Banyan Shipping Manager 

Where We Fell Short

• Various products were out of stock throughout the year, which disrupted our customers' herbal routines.

What’s Next

• In 2024, our #1 selling product, Triphala tablets, will have more certified Fair Trade ingredients with both bibhitaki and haritaki certified as Fair Wild.
• We expect to submit at least 20 new products for Fair for Life Fair Trade certification in 2024. 

“Fair Trade Certifications help us walk the walk, and not just talk the talk, of supporting fair trade. It works to create a more equitable system of trade for both ends of the supply chain throughout the globe. It allows us to network, advocate on an industry level, and participate in a collective system larger than ourselves to bring about positive change. Fair Trade is not always perfect, but the goal is continual improvement and I think that's where real growth and understanding comes from." —Cassandra Black, Domestic Sourcing Manager

OUR PEOPLE

We wouldn’t be able to do what we do without the people involved in the process. Our hard working farm partners, dedicated employees, and inspiring customers are at the heart of Banyan Botanicals, and we’re honored to share the journey with so many magnificent individuals.

2023 Celebrations

• 100% of Banyan employees were paid a living wage.
• 93 hours of sick pay were donated by employees to support fellow employees in times of need.
• We hosted four Banyan Connection Sessions via Zoom (one each season) for employees to get to know each other better.
• We donated 39,354 Banyan products to nonprofits, community partners, and customers.
• We supported five Community Grant Fund recipients who are doing inspiring healing work in their communities.
• We engaged in 16 community impact partnerships with nonprofits, organizations, and people focused on social and environmental  responsibility and community engagement.

Stories to Highlight

• Our farm partners in Uttar Pradesh voted to use their Fair Trade development funds to purchase a water filtration and cooling systems for local schools in the village.

• We partnered with Dragonfly's Garden and Three Sisters Garden, both located in Southern Oregon University’s (SOU’s) community garden. They provide dedicated land for students and alumni of the Native American Studies Program to cultivate and learn about Indigenous First Foods and Medicines.

  “I get to experience and behold the beauty and blessing of connecting to the land first hand. I witness students tuning into harvesting windows, connecting with the plants, trying new recipes, cooking together, and sharing in the bounty of nourishing foods." —T, Dragonfly's Garden Manager

• We created a glossary of Social Responsibility Terms used at Banyan for employees. Defining these concepts provides a shared language that helps us embody our values,  promotes clear communication, and deepens our understanding of how we can support a more just, equitable, diverse, and inclusive world.

• Banyan Botanicals joined over 180 other companies in signing on as supporters of the Increasing Land Access, Security, and Opportunities Act. Part of the 2023 Farm Bill, this federal legislation would make it easier for young and underrepresented farmers to access farmland.

Where We Fell Short 

• We didn't have much profit to share in 2023 with employees through our profit-sharing program. Profitability was impacted due to products being out of stock from supply disruptions, higher health insurance costs, increased wages, and higher prices across our supply chain.

What’s Next

• We are exploring the creation of a Supplier Appreciation Program that shares our products and customer feedback with our farm partners.
• In 2024 we will co-host a Sustainable Herbs Learning Lab Program in Southern Oregon, bringing together stakeholders in the herbal industry from around the world to collaborate on benefitting farmers and building sustainable supply chains. 

OUR PLANET

Honoring and protecting the sanctity of nature is one of our core values that extends throughout every facet of our business. With a commitment to continual improvement, we are dedicated to a long-term, ongoing effort to act as stewards to the earth and cultivate ever-greater harmony with the natural world.

2023 Celebrations

• 792 types of pollinators were identified at Banyan Farm.
• Our partners at Banyan Farm planted four pollinator-friendly cover crops (aroostook rye, hairy vetch, spring barley, and Austrian winter peas).
• Six employees participated in programs offered by the Sustainable Herbs Program.
• With our new Prevented Ocean Plastic™ packaging, 408,364 plastic bottles are saved from entering waterways each year.
• 1,662 pounds of Regenerative Organic Certified ® herbs were purchased from a neighboring farm partner in Southern Oregon.
• 99% of our herbs are certified organic.
• 4,684 pounds of herbs grown at Banyan Farm were used in Banyan products, including calendula, skullcap, bhringaraj, chamomile, ashwagandha, and mint.

Stories to Highlight

• Banyan is a founding member of the Sustainable Herb Program’s Scope 3 Herbal Emissions Working Group.
• Our long-term partner supplier, Pacific Botanicals, was the first herbal ingredients company in the US to receive the silver-level Regenerative Organic Certification®. 
• Our largest supplier in India is working towards a Net Zero goal and is committed to building sustainable farms and facilities. These efforts include: 
• Installing roof-top solar panels to harness the renewable energy from the sun and minimize dependency on electricity for farming, processing, and production. 
• Installing drip irrigation systems at all of their farms that run on 100% solar energy.
• Using eco-friendly electric vehicles (EVs).
• Transforming organic waste into high-quality compost that can be used for farming to improve soil health.

Where We Fell Short

• We were not able to measure the amount of compost from herbal waste which was diverted from the landfill because the industrial composting company we had been working with stopped their pick-up service in 2023. We are still composting, but because we now must drop off our compost to a pile, we have not collected active measurements. 

What’s Next

• Our partners at Banyan Farm are working to secure grants to install solar panels! These will help to build resilience and energy independence.
• We entered into a collaboration with seven other companies in the herbal industry to work together on measuring the carbon footprint of our herbs. 
• Our team was invited to speak on three different panels at the Natural Product Industry’s largest trade show, ExpoWest. Themes included Climate Day, Innovations In Packaging, and the Importance of Relationships in Building Sustainable Supply Chains.  
• Our CEO was invited to be a keynote speaker at the National Association of Medical Ayurveda (NAMA) 2024 Conference themed “Sustainable Traditional Medicine.”
• To better estimate our waste-to-landfill numbers at our New Mexico facilities, we will be doing a “Dumpster Dive Day” inspired by our friends at Dr. Bronner’s.