New Corporate Structure: Benefit Corps

Earlier this week, 80+ lawyers from 13 countries attended the 1st International Conference of B Lawyers hosted by Sistema B. At the global movement of B Corporations, we believe that we can change the rules of the game and influence policies that promote structural changes in companies.

These are the Benefit Corps - a new legal corporate structure for businesses that have clear purpose to cause positive material social and environmental impact, more accountability and more transparency.

Benefit Corps are committed to internalize their externalities and measure both their impact and the impact of their value chain. It was conceptualized by B Lab in the US.

Since 2010, more than 30+ US States passed the Benefit Corp Legislation and now there are 4,500+ Benefit Corps in the US including companies as Laureate International Universities as the first Benefit Corp to go public, Patagonia and the largest one established recently: Danone Wave (combination of Danone and WhiteWave Foods in the US).

Italy was the second country to pass this legislation and now 15+ countries are discussing this opportunity to institutionalize an alternative to use businesses as a force for good. In LATAM, Brazil, Chile, Colombia and Argentina have draft bills.

This is the B Corp movement towards the mainstream, creating a new culture and driving behavior-modification in business sector. #BtheChange