Skip to main content

“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.” ~~ John G. Diefenbaker

‘Our province is home to incredibly innovative companies that want to play a larger role in addressing the challenges and opportunities we face’ -- Oak Bay Gordon Head MLA Andrew Weaver

BC Finance Minister
Carole James
Late last week, British Columbia became the first province in Canada to create the option of ‘benefit companies’ ... a new way to do business that benefits people, communities and future generations.

“As government, we’re proud to support B.C. businesses that not only want to do well for their stakeholders, but also give back to their communities in important ways,” said Carole James, Minister of Finance.

This afternoon a spokesperson from the Finance Ministry indicated that by becoming the first jurisdiction in Canada to create benefit companies, British Columbia can ... position our economy for success as we work to recover from the impacts of COVID-19, and beyond.

This change to the Business Corporations Act will give businesses a new option when choosing a corporate structure for their company. A benefit company is a for-profit corporation committed to conducting its business in a responsible and sustainable manner, as well as promoting public benefits in addition to serving the interests of its shareholders. For example, the benefits could be artistic, charitable, cultural, economic, educational, environmental, literary, medical, religious, scientific and/or technological.

Benefit companies, however, do not receive benefits from the government, the Finance Ministry further indicated.  Instead, they stated, being a benefit company refers to their commitment to promoting public benefits in addition to serving stakeholder interests.

Playing a role in seeing this come about, was former Green Party MLA and leader, Andrew Weaver.
Oak-Bay Gordon Head
MLA Andrew Weaver


“I was pleased to sponsor this bill and to collaborate with government to see it become the first ever opposition private members’ bill passed into law in BC”, Weaver commented, and then continue;

“Our province is home to incredibly innovative companies that want to play a larger role in addressing the challenges and opportunities we face. This legislation helps position our province to be a leader on the cutting edge of global economic trends”.



ADDITIONAL INFORMATION can be found at the Business Corporations Amendment Act (NO. 2) ... Bill M 209 - 2019

NOTE ... a business that becomes a benefit company must:

  • specify its public benefit goals in its articles of incorporation, allowing investors to determine if the stated public benefit aligns with their investment and social goals; 
  • complete and publish an annual benefit report assessing the company’s performance in its promotion of its stated public benefits;
  • compare its progress against an independent, third-party standard;
  • share the report publicly by making it available at the company’s records office and on the company’s website, if it has one; and
  • require the company’s directors to balance the commitments in the benefit provision with their duty to act in the best interests of the company.
Labels:

Comments

Post a Comment

Popular posts from this blog

GORDON F. D. WILSON: When The Trick Masquerades as The Treat

Thirty-seven years ago, Halloween 1987, I became the leader of the BC Liberal Party.   British Columbia was badly polarized. Social Credit held one side and the NDP the other. It had been twelve years, 1975, since Liberal MLAs Garde Gardom, Pat McGeer, and Alan Williams had walked away from their party to join Social Credit, one year after the lone Progressive Conservative MLA Hugh Curtis had abandoned his party to sit with Bill Bennett, the son and heir apparent to long-serving BC Premier, WAC Bennett.   An unwritten agreement by the biggest Canadian political shareholders, the federal Liberals and Conservatives, decided that if British Columbia was to remain a lucrative franchise from a revenue perspective, they couldn’t risk splitting the electoral vote and electing the real enemy, the NDP, so no resources would be used to finance either a Liberal or Conservative party provincially.   “There are two sides to every street,” I was told by a very prominent Canadian businessman who cont
Post a Comment
Read more

FORSETH: As a BC Conservative member, and campaign worker, I will again state that the fact these errors were found -- AND brought to light BY Elections BC -- shows the system IS working

Sadly, two and a half weeks after the BC provincial election campaign, those who want to undermine our political process are still at.  PLUS, we also have one who doesn’t even live in our country, never mind our province. I speak of the buffoon running for President of the United States, who has poisoned the well when it comes to faith in the electoral process. Just today alone, comments such as the following, were being made of posts that I shared online: ... all the votes they keep finding has just favoured NDP on in all critical ridings and soon they will flip another riding in favour of NDP, Come on. ... Elections BC has ridiculed British Columbians, and I no longer have confidence or trust in their process and competence regarding the results Then there are others online, with comments like these – who are claiming fraud in the October 19th election: ... Who is the oversight for Elections BC? They should be investigated for election fraud! ... Fraudulent election ... should be red
Post a Comment
Read more

“With the talent and dedication of this caucus we will hold David Eby to account for his government’s out of control spending and ongoing failures in healthcare, public safety and addictions" — John Rustad

Today, John Rustad, Leader of the Conservative Party of British Columbia, proudly unveiled his shadow cabinet, a dynamic team of talented individuals ready to hold David Eby’s disastrous government accountable and present a strong alternative vision for British Columbia. “ Our shadow cabinet is a diverse and experienced group, committed to restoring prosperity, public safety, and affordability for every British Columbian ,” said Rustad. “ With experts in every field, we are focused on delivering real solutions for the challenges our province faces .” Rustad emphasized the historic appointment of Aaliya Warbus as House Leader. The shadow cabinet reflects the Conservative Party’s vision to build a brighter future for British Columbia. The appointments are as follows: Leadership Positions : Aaliya Warbus – House Leader Bruce Banman – Whip Sheldon Claire – Deputy Whip Portfolios : Tony Luck – Municipal Affairs and Local Government Sharon Hartwell – Rural Communities and Rural Development I
Post a Comment
Read more

Labels

Show more