The purpose of the regulation is to promote the establishment and encourage the spread of companies, hereinafter referred to as “benefit companies”, which in the exercise of an economic activity, in addition to the purpose of dividing the profits, pursue one or more purposes of common benefit and operate in a responsible, sustainable and transparent manner towards people, communities, territory and environment, cultural and social assets and activities, entities and associations and other stakeholders.
The purposes are pursued through management aimed at balancing the interests of the members and the interests of those on whom the social activity may have an impact. The purposes may be pursued by each of the companies referred to in Law 23 February 2006 n.47 “Law on Companies” and subsequent amendments and those regulated by special laws.

Definitions

It is understood by:

1. «common benefit»: the pursuit, in the exercise of the economic activity of the companies, of one or more positive effects, or the reduction of negative effects, on one or more categories referred to in the law;
2. «other stakeholders»: the subject or groups of subjects involved, directly or

indirectly, by the activity of benefit companies, such as workers, customers, suppliers, financiers, creditors, public administration and civil society in general;

1. «external evaluation standard»: methods and criteria of the standard, which must necessarily be used for the evaluation of the impact generated by the company in terms of common benefit;
2. «assessment areas»: sectoral areas, identified by the law, which must necessarily be included in the assessment of the common benefit activity.

Contents of the articles of association or bylaws

The benefit company, without prejudice to the provisions of the laws in force, must indicate, within its corporate purpose, the specific common benefit purposes that it intends to pursue.
Companies other than benefit companies, if they also intend to pursue common benefit purposes, are required to amend the articles of association or bylaws, in compliance with the laws in force on the matter.
The benefit company may introduce, next to the company name, the words «Benefit Company» or the abbreviation «SB» and use this name in the securities issued, in the documentation and in communications to third parties.

Administration

The benefit company is administered in such a way as to balance the interests of the members, the pursuit of the purposes of common benefit and the interests of the categories indicated in the law, in accordance with the provisions of the statute.
The benefit company, without prejudice to the provisions of the current legislation, identifies the responsible person or persons to whom to entrust functions and tasks aimed at pursuing the aforementioned purposes.
Failure to comply with the obligations set out in the law may constitute a failure to fulfill the duties imposed on directors by law and the statute.
In the event of failure to fulfill the obligations set out in the law, the provisions of Articles 56 and 57 shall apply. and 57 of Law no. 47/2006 “Law on Companies” and subsequent amendments regarding the liability of directors.

Annual report

The benefit company annually draws up a report concerning the pursuit of common benefit, to be attached to the company balance sheet and which includes:

1. the description of the specific objectives, methods and actions implemented by the directors to pursue the purposes of common benefit and any circumstances that have prevented or prevented this. slowed down;
2. the evaluation of the impact generated using the external evaluation standard and which includes the evaluation areas identified by the standard;
3. a section dedicated to the description of the nuovi objectives that the company intends to pursue in the following financial year.

The annual report is published on the company’s website or by other means of communication. To protect the beneficiaries, some financial data in the report may be omitted.

Benefit business rating

The business rating system and the related rewards determined by the State Congress with its own resolution are established at the Agency for Economic Development – Chamber of Commerce, which manages it, for which the Agency for Economic Development – Chamber of Commerce issues specific certification to economic operators, upon request.

The system is connected to reputational requirements assessed on the basis of qualitative and quantitative, objective and measurable indices, as well as on the basis of definitive assessments that express the reliability of the company.

The Congress of State with regulation defines the reputational requirements with the evaluation criteria of the same and the criteria relating to the evaluation of the impact generated, as well as the methods of issuing the relative certification, through guidelines adopted within three months from the date of entry into force of the law.
Within the same three-month period, the Agency for Economic Development – Chamber of Commerce prepares the appropriate technical procedures for the submission of applications by companies.

The guidelines establish a system of penalties and rewards for the purposes of the company’s participation in public selection procedures and obtaining subsidized lines of credit. The Agency for Economic Development – Chamber of Commerce, in assigning reputational requirements to companies already established, also takes into account behaviors prior to the entry into force of the law that are compliant with the provisions for issuing the company rating.

Incentives

Specific incentive policies will be defined by delegated decree, parameterized to the assigned rating and aimed at pursuing the law.

Supervision

The benefit company that provides information incorrect or incorrect information on the purposes of common benefit is subject to the provisions on consumer protection.
The Agency for Economic Development – Chamber of Commerce carries out the related tasks and activities, within the limits of available resources.

Evaluation standards

The external evaluation standard used by the benefit company must be:

1. comprehensive and detailed in assessing the impact of the company and its actions in pursuing the purpose of common benefit towards people, communities, territories and the environment, cultural and social assets and activities, entities and associations and other stakeholders;
2. developed by an entity that is not controlled by the benefit corporation or connected to it;
3. credible because it is developed by an entity that:
4. has access to the expertise needed to assess the social and environmental impact of the activities of a company as a whole;
5. uses a scientific and multidisciplinary approach to develop the standard, possibly also providing for a period of public consultation;
6. transparent because the information concerning it is made public, in particular:
7. the criteria used to measure the social and environmental impact of the activities of a company as a whole;
8. the weightings used for the different criteria provided for the measurement;
9. the identity of the directors and the governing body of the entity that developed and manages the evaluation standard;
10. the process through which changes are made and updates are madements to the standard;
11. an account of the entity’s income and sources of financial support to exclude any conflicts of interest.

Areas of assessment

The impact assessment must include the following areas of analysis:

1. corporate governance, for assess the degree of transparency and responsibility of the company in pursuing the purposes of common benefit, with particular attention to the purpose of the company, the level of involvement of stakeholders, and the degree of transparency of the policies and practices adopted by the company;
2. workers, to assess relationships with employees and collaborators in terms of wages and benefits, training and opportunities for personal growth, quality of the working environment, internal communication, flexibility and job security;
3. other stakeholders, to assess the company’s relationships with its suppliers, with the territory and local communities in which it operates, volunteering actions, donations, cultural and social activities, and any action to support local development and its supply chain;
4. environment, to assess the impacts of society, with a life cycle perspective of products and services, in terms of use of resources, energy, raw materials, production processes, logistics and distribution processes, use and consumption and end of life.