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WNYC News, December 13, 2011

NY Gets Friendlier to Socially Responsible Business

Govenor Andrew Cuomo signed a law creating a new legal category of company in New York late Monday night: a Benefit Corporation. The companies that incorporate under the new law must prove they have social and environmental impact…Benefit Corporations in New York will have to submit to third party monitoring on at least one kind of non-financial benefit they provide to society. The law does not mandate which cause or which third party certification organization, something that the New York City Bar association has raised concerns about because it could put corporate boards of directors in difficult positions.

The entire article may be read here.