In a major advance for the B Corp movement, Delaware Governor Jack Markell signed benefit corporation legislation into law, opening the door for business leaders of the more than one million entities that call Delaware their legal home to change their company’s legal structure to a for-profit structure that benefits the public and planet
Benefit corporation status ensures that corporations are not only beholden to shareholder profits, but also to other stakeholders recognized in company by-laws, including workers, communities and the environment. Delaware is home to 50% of all public companies and 2/3 of all Fortune 500 companies.
According to B Lab, the non-profit organization behind the 3rd-party assessment and B Corp certification of for-profit companies with high social and environmental standards, “Every 500 years or so, there is a tipping point in the evolution of capitalism. This is it.”