Law No. 208 Benefit Corporations Sections 376-382

With this legislation, Italy becomes the first country in the EU and the first country in the world outside of the USA to create a specific legal form that lets business leaders consider their companies’ impact on stakeholders like society and the environment on the same level as they consider their profits.

Issuer name

Ministry of Economy and Financial Affairs

Government ministry

Finance/Treasury

More information

Benefit Corporations are required to report their social, environmental and community impacts in a rigorous and transparent way, by adopting globally recognized standards such as the B Impact Assessment (BIA).

Organizations covered by the instrument

Small and Medium sized Enterprises (SMEs)

Target organization notes

Benefit-corporations

Industry scope

All/none specified

Disclosure venue

Annual report

ESG coverage - E (Environment)

All

ESG coverage- S (Social)

All

ESG coverage- G (Governance)

Stakeholder Engagement, Ethics & Integrity

ESG coverage- Eco (Economic & General)

Economic performance

Status

Current

Country

Italy

Region

Europe

Date of publication

2015

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Go to the instrument