B.C. finance minister says ‘benefit companies’ would give back to communities

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Businesses would commit to responsible and sustainable practices while promoting public benefits

A variety of causes could reap the benefits, including those that are charitable, educational, environmental and artistic.

The legislation stems from the first private member’s bill from an Opposition party to be passed directly into law, said Weaver, who now sits as an independent member of the legislature. “What COVID is telling us as we move forward is that we’ve got to do things differently. And this is one tool in many that will allow us to do just that.”

Benefit companies were introduced in the United States in 2010 and are now possible in 35 states, as well as Italy and Colombia, the Finance Ministry said.

 

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