"Taking a Fresh Look at Delaware Public Benefit Corporations – Recent Legal and Market Developments" from Ropes & Gray recaps the recent changes to the Delaware General Corporation Law that ease the conversion to and from a public benefit corporation (PBC) and cites examples of publicly traded Delaware PBCs and PBC subsidiaries. The memo also briefly addresses B Corp certifications and the Delaware sustainability certification. While the firm expects a rise in the number of PBCs over time commensurate with increased interest in sustainability investing and corporate purpose, it believes its uptake will remain limited relative to conventional corporations.
See our report: "Benefit Corporations Explained & Timely Revisited"; our recent reports: "Director Fiduciary Duties: Stockholders & Stakeholders" and "BRT Statement of Corporate Purpose: Debate Continues"; and additional information & resources on our Benefit Corporations and Director Duties & Liabilities pages. This post first appeared in the weekly Society Alert!