Benefit Corporation Legislation (B-Corp Legislation), 2012

United States of America Current 2012

This State legislation authorizes the organization of “Benefit Corporations”. Benefit corporations 1) have a corporate purpose to create a material positive impact on society and the environment; 2) are required to consider the impact of their decisions not only on shareholders but also on workers, community, and the environment; and 3) are required to make available to the public an annual benefit report that assesses their overall social and environmental performance against a third party standard. As of March 2016, the Benefit Corporation legislation had been passed in 31 States and the District of Columbia. Legislation is pending review in at least 5 States.

Scope

General sustainability/ESG/non-financial

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

Issuer type

State Government

Type of instrument

Legislation

Mandatory or voluntary

Voluntary

The geographical scope

National/federal

Project Partners