12 July 2017 | Internet

The companies of triple impact go after their legal recognition in Argentina

In Deputies it advances an initiative to give €œspecial clothes them€ to the companies with intention; there are legal marks in Italy and the United States

Silvia Stang

In the Patagonia, the company B Ovis21 sets out to regenerate pastures photo: LA NACI“N

In the Congress of the Nation it advances a law project that would give own identity them to the companies that, beyond its objective of an economic gain, they have as intention to generate with its activity social and environmental positive impacts. The initiative, sent by the Executive Power in November of the last year, obtained opinion of the Commission of General Legislation of the House of Representatives in last June, and now it waits for its treatment in the enclosure.

The text of the project does not look for to have a new legal form to benefit or production the units services. The companies (new or existing) that adhere to the regime that proposes the initiative, would continue adopting some of the today existing figures (as, by case, to be a joint-stock company) and would add €œclothes€ as reference of an identity that will have to be reflected in the way in which they make his businesses.

Why it would serve that recognition? Who promote this project - that arose from organizations of the civil society say that there are at least three objectives that they try to obtain with the approval of the law: to give visibility to the undertakings that, without leaving of side their economic objective, have concrete goals in social and the environmental thing; to armor those intentions, giving protection to the decisions of businesses that valorize factors that go beyond the traditional yield, and to jeopardize of visible form the people in charge to make decisions in the companies.

To the companies with these commitments it would be identified to them with the name of €œsocieties of benefit of collective interest€ (BIC).

The project arrived at the Legislative power along with which in past March it was transformed into the law of entrepreneurs and that, among others points, allows to create a company in a day and anticipates facilities for the funding of the activity. That norm, in any case, is still not orchestrated, something that would happen between aims of this month and principles of the next one, according to considered the secretary of SMEs, Mariano Mayer. The home depends on each jurisdiction, since the registries public of societies work in each province and the city of Buenos Aires.

€œWhereas the law of enterprising was a pending debt, the initiative of companies BIC is something innovating; we will be point of the spear in the region€, it indicates Francisco Murray, executive director of System B in Argentina, a community of global character that grants certifications to companies of triple impact. The name of €œcompanies B€ comes from the designation as Benefit Corporation of this type of companies in the United States, where some states have an own legislation for this segment of the economic activity (also Italy has its regulatory framework). In the case of EE.UU., the necessity to leave in clear the responsibilities of the directors in front of the shareholders, because had taken special relevance it is understood that to make decisions based on social goals it could enter conflict, in some cases, with the aim of maximizing economic gains.

According to Murray, today in the world there are some 2100 companies certified with seal B, whereas at local level they are half hundred (and the same has its request in proceeding). Certification B, in any case, is not an equivalence to the €œlegal personality€ that identification BIC would give the companies. Both questions, in fact, would run by separated routes.


According to it points Soledad Noel, one of the lawyers who participated in the elaboration of the law project, to be considered society BIC and according to it looks for to arrange the project, the company will have to point out in verifiable the social contract which is the positive impact €œand€ that autoxige to be generated in the society and the atmosphere. In addition, the initiative anticipates that it will be required of an adhesion of 75% of the partners with right to vote to be able to modify the object and the social aims of the undertaking.

The companies would be in addition forced to elaborate an annual report with a description of the carried out actions to fulfill the self-imposed objectives. That report will have to be audited by €œa registered independent professional, who is specialized in the scopes in which they are tried to bring about the social and environmental benefits€. The report will have to be of public access and to be presented within the 6 later months to the closing of each exercise.

The project does not consider the granting of any fiscal incentive for the companies that voluntarily decide to be BIC. During the presentations that referring of the sector did before legislators the year last in the Congress, it was indicated that to take such type from measures it would denature the objective looked for with a regulatory framework. Between the whereas clause of the text in study it is mentioned that it is tried to promote a form to make businesses that lie down to obtain €œa society integrated and sustainable€ in the time.

Between the companies B that operate today in Argentina there are some premises and other that are the branchs of multinational companies.

Point to point, the regulatory framework

What says the project and what companies are of triple impact

  • Denomination
  • The project sent by the Executive Power and promoted by organizations of the civil society, looks for to arrange that the €œsocieties of interest and collective benefit€ have identity; one is a legal recognition to the economic activity €œof triple impact€.

  • Requirements
  • Thus to be considered, the companies - that will maintain a legal figure of the already existing ones will have to point out in their contract which are their intentions in social and environmental matter; in order to modify those aims one will be due to count on 75% of the votes of the partners.

  • Objectives
  • It is tried to give €œdefense€ to those who administer the companies, by his tie decisions to the social goals, and in addition, to extend his duties, since they are forced to bring about and to measure effects on the partners, the employees and the community generally.

  • Companies B
  • In the country, among others several companies certified by the organization System B are Nature (cosmetic); Guayak­ (grass); Ball (soccer balls); The Positive news (communications); Inti Zen (tea); Patagonia (clothing); I undulated (toys); Paez (worn) and Soleventus (solar energy)

Source: La Naci³n

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