B corp legislation expands to NY State

Will B Corps impact the sustainable market place?

Traditional corporate law requires corporations to prioritize the financial interests of shareholders over the interests of workers, communities, and the environment. Benefit corporations are a new kind of corporation legally required to:

1) have a corporate purpose to create a material positive impact on society and the environment

2) expand fiduciary duty to require consideration of the interests of workers, community and the environment

3) publicly report annually on its overall social and environmental performance using a comprehensive, credible, independent, and transparent third party standard.

Read more about B Corps and see if your state supports B Corp legislation at benefitcorp.net