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The government hopes private investors will fund social services – the evidence isn't so optimistic
(theconversation.com)
this post was submitted on 07 Dec 2023
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How do corporate structures work in NZ? In the US a type C corporation (the most common) can be sued by their shareholders if the company does anything but work to make money. In contrast, type B, cooperatives, and non profits can contribute to the public good. Is it different in NZ?
My understanding is that in the US (and around the world), B corps are not some thing listed in the laws if the country. It's a for profit company that has been certified by the non-profit B Lab as having a high social impact score. NZ does have certified B Corps and our company laws don't prevent this interpretation of shareholder value.
There's an actual legal entity that can be set up in many US states called a benefit corporation, to my knowledge such a thing does not exist in NZ.