New economy:
There is a new capitalist model on the rise. It is necessary that main actors in the market rethink the current economic model and better evaluate the way to incorporate ways and instruments that reflect the current needs of our societies and environment.
In the new economy, companies compete to be better for the world, people and the environment.. The construction of a new economic model calls for companies that balance purpose with profit. B Corps adopt the highest standards in environmental, social and government practices and, as a result, they tend to be more resilient during a crisis, which was proven during the 2008 crisis and has been the case during the current challenges of 2020.. Promoting change in the economic system goes well beyond B Corps.
The B Movement collaborates with leaders of all sectors of society and builds it alongside everyone who works, buys, invests, learns, teaches or supports companies that strive to create an inclusive, equitable and regenerative economic system for all people and the planet.
In the new economy, companies compete to be better for the world, people and the environment.. The construction of a new economic model calls for companies that balance purpose with profit. B Corps adopt the highest standards in environmental, social and government practices and, as a result, they tend to be more resilient during a crisis, which was proven during the 2008 crisis and has been the case during the current challenges of 2020.. Promoting change in the economic system goes well beyond B Corps.
The B Movement collaborates with leaders of all sectors of society and builds it alongside everyone who works, buys, invests, learns, teaches or supports companies that strive to create an inclusive, equitable and regenerative economic system for all people and the planet.
A shift in the
business paradigm
In order to have more companies, people and institutions commit to augmenting their positive social and environmental impact, we need to connect the public and private sector. We need to promote public policy that engages more people who want to make this change happen in the economy.
For this reason Sistema B has promoted, since 2014, through a community of B Lawyers (today the Latin American Network of Impact Lawyers), studies and discussions around the most relevant legal issues to bring about a change in the rules of the economic-corporate game of the new economy: from the development of the legal language for B corps, to promoting changes in regulations and market practices.
The Latin American Network of Impact Lawyers (RLAI for its Spanish acronym), is a network formed by individual lawyers from Argentina, Brazil, Chile, Costa Rica, Ecuador, Peru and Uruguay, among others. Its main challenge is to systematize and spread knowledge of the legal aspects of an economy focused on generating social and environmental positive impact in public policies, investments and commercial activities. Its main fields of action are:
• Business with a purpose
• Regulatory frameworks for the triple impact economy
• Promoting change in market regulations and practices
• Development of public policies that enable a favourable institutional ecosystem for an impact economy
• Sustainable Public Procurement
• Impact Investments
• Legal education for the triple impact economy
• Regulatory frameworks for the triple impact economy
• Promoting change in market regulations and practices
• Development of public policies that enable a favourable institutional ecosystem for an impact economy
• Sustainable Public Procurement
• Impact Investments
• Legal education for the triple impact economy
The RLAI was built on the knowledge developed together with Sistema B through the local groups of B Lawyers of the different countries in the region, who have for example succeeded in presenting bills for the recognition of Benefit and Collective Interest Corporations, and have written for each country the legal language for B Corps.
Develop the legal language for
certified B Corps
Influence changes in
the market rules
Promote the development of public policies for impact economy
Benefit and Collective Interest Corporations
The Benefit and Collective Interest Corporations (“Sociedades B.I.C”) is the legal model for triple impact businesses that has emerged strongly in Latin America. They are commercial societies characterized by the commitment of its members to generate positive social and environmental impact as a core element of their business, as well as the generation of profit. B.I.C Societies are the Latin American response to the Benefit Corporation model.
Latin American legislation replicates the three essential elements of the Benefic Corporations model. These elements are:
The existence of a purpose of
social and environmental benefit added
to the economic activity
The variation of the
liability regime of the
company
The obligation of a
transparency regime
and reporting
Starting from the commitment taken by all interested parties in the business (shareholders, investors, employees, clients, suppliers, local community, society in general and the environment) it seeks to create a legal framework for this new business organization. A framework that, on one hand, is understanding of the commercial nature and, on the other, protects and promotes new purposes.
Countries with approved BIC Law
Countries with BIC Bill in process
Countries with approved BIC Law
Countries with BIC Bill in process
What’s the difference between a certified B Corp and a BIC Society?
BIC Societies
B Corps
