At Because Water we take corporate accountability very seriously. A lack of corporate accountability leads to decisions that can harm the environment, other businesses, and consumers. The Great Pacific Garbage Patch is the result of irresponsible business decisions overruling ethics and common sense. Unfortunately these reckless business decisions have serious repercussions on a global scale.
Massachusetts took a huge step towards more responsible business practices this year when the Massachusetts Legislature approved legislation for Benefit Corporations in an economic recovery act. Massachusetts and 8 other US States passed legislation which designates socially and economically conscious businesses as Benefit Corporations. This new classification allows businesses to be more transparent in their attempts to promote responsible business practices.
Businesses will be able to apply to register as a Benefit Corporation beginning January 1st, 2013.
What is a Benefit Corporation?
Benefit Corporations are a new type of company that aims to resolve environmental and social issues through business. A Benefit Corporation is held to higher legal accountability standards than a normal business, and must prove that their model actively helps environmental or social causes. Benefit Corporations promote and create a voice for sustainability in business. This means that Benefit Corporations are committed to more than just revenue, and can bring about real change in business ethics.
Benefit Corporations willingly hold themselves to higher standards as a way to create change through business. The non-profit B-Lab created a community of Benefit Corporations that maintain a standard of responsible business practices, and they offer a certification to socially and environmentally conscious businesses. The goal of B-Lab, and the Benefit Corporation legislation, is to influence “good business” rather than just “good marketing”.
What does this mean for Massachusetts?
Benefit Corporation legislation in Massachusetts is not only great for progressive businesses, it is also a commitment to change the fabric of American business. Benefit Corporations must pass certain requirements assessed by a third-party company; this means that companies are willingly subjecting themselves to higher standards of performance and responsibility. Business leaders in the Benefit Company community are willing to operate with the future of Massachusetts and America in mind.
Americans are tired of irresponsible business practices and corporate greed and we are willing to fight for positive change. Starting January 1st, 2013, Massachusetts will be redefining corporate responsibility and corporate ethics. Businesses willing to fight for the environment and social issues can use the power of business to fight for positive change.
Still don’t get it?
PBS does a great job defining exactly what a Benefit Corporation does, what regulations they are subject to, and how they will change the landscape of American business.
You can also show your support for environmentally conscious businesses by donating to a good cause. We love Water.org has a great way to donate money toward water relief.
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