The Benefit Corporation is a legal form of business chosen by those companies that decide to spontaneously commit themselves to create a positive impact on society and the biosphere and create shared value, as well as generate profit. Sustainability is an integral part of their business model and creating conditions conducive to social and environmental prosperity, today and in the future. It is an important and significant choice that only companies that want to be virtuous and that feel unquestionably responsible for their social impact make.
Benefit Corporations undertake to consider the impact of society on society and the environment in order to create long-term sustainable value for all stakeholders. In other words, it is a virtuous choice on the part of a company that makes this commitment.
Benefit Corporations are required to annually communicate and report according to third-party standards the results achieved, their progress and future commitments towards the achievement of social and environmental impact, both towards partners and/or shareholders and towards the general public.
Benefit companies therefore voluntarily pursue, in the exercise of their business activity, in addition to the purpose of making profit, also one or more purposes of common benefit, or rather they pursue in a responsible, sustainable and transparent way and without benefiting from economic incentives or fiscal, one or more positive effects on people, communities, territories and the environment, cultural and social assets and activities, bodies and associations and other stakeholders.
Specific Common Benefit purposes include, for example: providing goods or services for disadvantaged individuals or communities; protect or restore the environment; improve human health; promote the arts, sciences or the advancement of knowledge; increase capital flows towards subjects that create a Common Benefit (impact investments).