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"Balancing profit with people and planet" is just another way of saying "acting in the public interest." Which, in theory, all corporations are legally bound to

"Balancing profit with people and planet" is just another way of saying "acting in the public interest." Which, in theory, all corporations are legally bound to do. The problem is that, until recently, there hasn't been the political will to enforce the public interest obligation. This is changing, particularly in terms of environmental responsibility, as the public is becoming increasingly aware of the massive environmental and health costs that many corporation offload onto the public. I think the only real problem with the B-corp idea is that it's optional.

atatatat 5y ago
> Which, in theory, all corporations are legally bound to do. Which country do you live in, and are they accepting immigrants?
- vannevar 5y ago
  Here in the United States, the power to form corporations comes from the state constitutions. The applicable clauses typically require protection of the public interest, or note the power to revoke the charter based on misuse or abuse. This explicit or implicit public obligation is apart from the fiduciary obligation of the corporation's directors and officers. Over time, the presumption has come to exist that the single-minded pursuit of corporate profit is enough to satisfy that obligation, by providing goods, services, and jobs. Now that there is greater awareness of the external costs generated by some corporate activity, this assumption can and should be revisited. The constitutional power to raise the bar on corporate behavior already exists, it's simply dormant in most jurisdictions.
southerntofu 5y ago
I agree with your original statement, but i don't believe anything is really changing on that front. For examples, regulations pushing for electricity-powered cars completely ignore the ecological/maintenance impact of embedding many sensors/firmwares in the cars. Private profit is and will remain strongly opposed to the public interest.

atatatat 5y ago

> Which, in theory, all corporations are legally bound to do. Which country do you live in, and are they accepting immigrants?

vannevar 5y ago
Here in the United States, the power to form corporations comes from the state constitutions. The applicable clauses typically require protection of the public interest, or note the power to revoke the charter based on misuse or abuse. This explicit or implicit public obligation is apart from the fiduciary obligation of the corporation's directors and officers. Over time, the presumption has come to exist that the single-minded pursuit of corporate profit is enough to satisfy that obligation, by providing goods, services, and jobs. Now that there is greater awareness of the external costs generated by some corporate activity, this assumption can and should be revisited. The constitutional power to raise the bar on corporate behavior already exists, it's simply dormant in most jurisdictions.

southerntofu 5y ago

I agree with your original statement, but i don't believe anything is really changing on that front. For examples, regulations pushing for electricity-powered cars completely ignore the ecological/maintenance impact of embedding many sensors/firmwares in the cars. Private profit is and will remain strongly opposed to the public interest.