Suz Mac Cormac spoke to the Wall Street Journal about the public-benefit corporation (PBC), a growing niche investment that has caught the attention of investors who are committed to ESG and impact investing.
The allure for investors is that PBCs are legally required to provide a social benefit defined in their incorporation documents, which could include things like donating money to charities, creating jobs in underprivileged areas, or investing in sustainable practices. PBCs also have a fiduciary responsibility to provide financial returns to shareholders.
According to Suz, there are only 19 publicly traded PBCs among the estimated 15,000 PBCs globally.
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