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B Corps Congratulate Delaware on Signing Benefit Corporation Legislation into Law

Submitted by: Singlebrook Technology, Inc.

Categories: Corporate Governance, Corporate Social Responsibility

Posted: Jul 17, 2013 – 05:18 PM EST

 

ITHACA, N.Y., Jul. 17 /CSRwire/ - In a major advance for the B Corp movement, Delaware Governor Jack Markell just signed benefit corporation legislation into law, opening the door for business leaders of the more than 1 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.”

When benefit corporation legislation was passed in New York State in February 2012, certified B Corp leaders and B Lab representatives met in New York City to celebrate the new benefit corporation structure and be among the first to change to the new corporate structure. Going the extra mile beyond certification to also adopt these values as part of their corporate structure was an exciting opportunity for many companies. As B Corp owner and Singlebrook Technology CEO Elisa Miller-Out states, “I believe in business as a force for good”.

Being a benefit corporation and a certified B Corp shows a commitment to serving the environment, workers and communities. For companies like Singlebrook, this means an extra focus on volunteering in the community and doing purpose-driven technology projects. In the local Ithaca area, Singlebrook, along with other certified B Corps, Comet Skateboards, Natural Investments, Taitem Engineering and Impact Energies are excited to stand with a growing community of for-profits using business to do good.

About Singlebrook
Singlebrook provides custom Web and mobile development solutions to purpose-driven corporations, many of whom are B Corps, as well as non-profits and higher education institutions. Singlebrook became a B Corp in 2009 and a NY State benefit corporation in 2012. singlebrook.com

For more information, please contact:

Phone: 607-330-1493
Fax: 607-697-0457
Twitter: @Singlebrook

 

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