This Week
  • Siblings Bradley Calkins and Katherine Lindahl are co-CEOs of Rochester Midland.

  • The number of temporary help employees locally has grown since the recession.

  • Kelby Russell wants you to know: Local wines are among the world's finest.

  • Employee cross-training has become essential for organizations to run smoothly.

  • P3 Systems Inc. sells and services new and refurbished networking equipment.

  • Challenges mount for area companies that do business in Russia.

Cuomo signs legislation allowing benefit corporations

Rochester Business Journal
December 13, 2011

New York will allow businesses to be recognized as benefit corporations, as a result of legislation signed Tuesday by Gov. Andrew Cuomo.

Benefit corporations are designed to meet rigorous and independent standards related to social and environmental performance, representatives said.

Current laws make it difficult for businesses to consider employee, community and environmental interests when making decisions, representatives said. The legal structure of benefit corporations allows them to make decisions that are environmentally friendly rather than solely to benefit shareholders.

The legislation was sponsored in the state Assembly by Speaker Sheldon Silver and in the state Senate by Democrat Daniel Squadron.

“By bringing benefit corporations to New York, we are showing that profit and social responsibility are not mutually exclusive,” Silver said in a statement.

“This law will continue our efforts to strengthen and diversify our economy while ensuring that New York remains a national leader in progressive policies that help our environment, protect consumers and bolster the rights of working men and women.”

(c) 2011 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google