Sustain3 Becomes a Benefit Corporation in Utah
Utah 20th state to adopt Benefit Corporation Legislation
SALT LAKE CITY, UT, May 13, 2014 /3BL Media/ - Sustain3 has become one of the “Original Benefit Corporations” in Utah. As a company founded in environmental and social awareness, this new corporate structure is a logical adoption. Utah is the 20th state to adopt Benefit Corporation Legislation into law. In addition to Sustain3, today’s event saw eleven other Utah-based companies also register as benefit corporations.
Traditional corporate law is written such that corporations are beholden to their shareholders to maximize profits. A benefit corporation is a new type of corporate structure designed for for-profit entities to pursue social and environmental goals in addition to maximizing profits. In contrast to traditional corporations, benefit corporations emphasize transparency and accountability. With these as guides, decision-making goes beyond the company – the decision process also considers impacts on society and the environment.
Bill Wilson, the CEO of Sustain3 feels, “It was only natural for us to become a benefit corp because our business’s foundation was developed to help companies and their employees embed sustainability principles into their operations, strategies and culture. It's an honor and privilege to have this opportunity and we are excited to be in the first class of Benefit Corporations in Utah.”
Sustain3 believes that employees hold the key to a winning corporate social responsibility (CSR) strategy. Sustain3 offers a sustainability training and employee engagement program that drives employee action and measurable business results. This employee engagement platform delivers a general public benefit as it creates positive environmental impacts on an individual and company wide basis.
Using a tier-based implementation process that uses cutting edge behavioral science, they are able to make verifiable, credible claims about the social, environmental, and financial benefits. Sustain3 believes there is no one-size-fits-all approach to engagement because every company has a unique culture and group of employees. The Sustain3 platform allows companies to determine the engagement initiatives and messaging approaches that are mostly likely to resonate with their employees.