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An ordinary corporation may change to a benefit corporation merely by stating in its approved corporate bylaws that it is a benefit corporation. [ 2 ] A company chooses to become a benefit corporation in order to operate as a traditional for-profit business while simultaneously addressing social, economic, and/or environmental needs. [ 3 ]
B Lab’s decision to certify corporations with single use products, effectively putting these companies into the category of good corporate citizens, has resulted in accusations of greenwashing. [ 49 ] [ 50 ] [ 51 ] B-Corp is described as “capitalism through certification," with calls for more fundamental reforms that prioritize shared ...
Public benefit corporations, also known as benefit corporations, are for-profit businesses whose charters commit them to social or environmental missions, not just maximizing shareholder value.
In addition to awarding B Corporation certifications to companies that score high enough on the B Impact Assessment, B Lab’s initiatives include administration of the B Impact Management programs and software, as well as advocacy for the adoption and improvement of benefit corporation statutes at the state level. (The B Corporation ...
Benefit corporation or public-benefit corporation, for profit but with positive impact; Public-benefit nonprofit corporation, chartered by a state government; New York state public-benefit corporations, quasi-governmental authorities
Of the over 3,300 Certified B Corporations in the world as of April 2020, a significant portion are in the food & beverage space. Companies can be certified B either through creation or conversion of a corporate legal structure to a Benefit corporation, as is available in the United States in 35 states, or entities can modify their articles of ...
OpenAI on Friday laid out a plan to transition its for-profit arm into a Delaware public benefit corporation (PBC) to help it raise capital and stay ahead in the costly AI race against companies ...
This is a list of benefit corporations This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by adding missing items with reliable sources .