Collective benefit and interest companies as a vehicle for sustainability: a comparative perspective

Abstract

International crises have led companies to be more aware about their influence in global issues, as well as remedial measures to apply; thus, a base has been provided for the adoption, in public and private sectors, of the Sustainable Development Goals (SDG), proposed in Agenda 2030. The present work analyzes the development of collective benefit and interest companies (BIC), in Peru, from a perspective of legislation and administration compared to Iberoamerican and North American countries: Spain, Colombia, Ecuador, Argentina, Chile, Mexico, Uruguay, El Salvador, the United States of America and Canada. For this purpose, a bibliographic review in governmental and academic repositories was carried out. Legal advances, endorsed in laws, are identified, as well as an impulse from the private initiative, for the construction of this model focused on sustainable development incorporated in the constitution of the corporate company. Also, complications during transition from a company or a B company to a PBC/CCC are recognized; in particular, various countries do not offer any direct benefit for these organizations and, instead, it involves budget management, the presentation of reports and full transparency in order to preserve the legal status.