California has the opportunity to become the state for socially and environmentally responsible businesses.
Governor Brown received Assembly Bill 361 today and will now determine how CA will support the green economy. The legislation, introduced by Assemblymember Jared Huffman (D-San Rafael), creates a new class of corporation, called Benefit Corporations, to legally allow businesses to pursue a material positive impact on society and the environment, while meeting higher standards of accountability and transparency.
Current corporate law makes it difficult for businesses to consider employee, community, and environmental welfare when making decisions, but new legislation would allow corporations to take all of those aspects into consideration. Benefit Corp legislation also requires more transparency, helping the public to more easily see through green-washed advertisements. California is at the heart of the sustainable business movement and needs this law to protect socially environmentally responsible companies and help them grow.
AB 361 was supported by over 200 California-based businesses and associations (including Care2). Similar legislation has already passed in Hawaii, Maryland, New Jersey, Vermont and Virginia. Now it’s California’s turn.
We need companies we can trust to do what’s best for everyone, not just their shareholders. Help pass CA Benefit Corp Legislation and sign the petition. Tweet, email and shout and we can create a movement for a better way to do business.