Yulu Public Relations registers as a Benefit Company
Yulu joins 30 impact-driven organizations in rolling out British Columbia’s newly enacted “Benefit Company” legislation, embedding public benefit into its corporate filings
October 6, 2020 (Vancouver, B.C. — Traditional Territories of the Musqueam, Squamish and Tsleil-Waututh Nations) – Yulu PR, Canada’s first communications agency to become a certified B Corp, today announced that it has registered as a Benefit Company PR agency.
One of the first 30 organizations in Canada to be named a Benefit Company – and a strong supporter in advocating for Benefit Company legislation to be passed in British Columbia – Yulu’s decision to pursue Benefit Company status reinforces the agency’s ongoing, company-wide commitment to use business as a force for good. As part of the Benefit Company process, Yulu altered its corporate articles to include new provisions that outline public benefit commitments, holding the company’s directors and its business practices to higher purpose-driven standards.
A Benefit Company (similar to benefit corporation designation in the US) is a for-profit company that commits to conducting its business in a responsible and sustainable way. It must promote one or more public benefits. Public benefits must have a positive effect for a group of people (other than business shareholders), communities, organizations or the environment.
“Business practices must evolve to support the global issues of today: where once the purpose of business was to uphold shareholder primacy, companies are now recognizing the environment and communities in which they operate as equally important stakeholders,” said Melissa Orozco, CEO and Chief Impact Officer at Yulu PR. “Through our client partnerships, we are proud to promote and advance the economic success for businesses doing good in the world.”
Under the newly enacted British Columbia “Benefit Companies” legislation, section 2.3, of the Business Corporations Act, Yulu is pledging to promote public benefit through its social mandate, committing to exclusively work with innovative organizations that are embedding either social or environmental responsibility directly into their business models and practices.
“As a purpose-driven organization, we recognize accountability is key. With this new legislation in place, we are legally bound to our public benefit commitments,” said Jenna Kuchinsky, Senior Operations Manager at Yulu PR. “This is a responsibility we’re proud to take on.”
Yulu is also promoting public benefit by driving progress towards the UN’s 2030 Sustainable Development Goals; measuring and monitoring its environmental impact; demonstrating support and advocacy for social justice, human rights, climate action, and other global issues through client strategies and campaigns. A full outline of Yulu’s public benefit commitments can be found here.
“I have developed a deep appreciation for the spirit behind our new legislation,” said Bernie Geiss, Founder of Cove Continuity Advisors and champion behind BC’s Benefit Company legislation. “It enables businesses to voluntarily act to solve the seemingly intractable social and environmental challenges we all face, without the concern of falling outside of legal, corporate obligations. It represents the unshackling of businesses that want to be and do good while creating accountability for others to see.”
To learn more about benefit companies, visit this link.
About Yulu Public Relations Inc.:
Yulu PR, a Benefit Company PR agency, is an international social impact communications and sustainability PR agency, established in 2011 and headquartered in Vancouver BC, with a satellite New York public relations office. Yulu, an Impact Relations agency dedicated to championing social innovation by sharing stories that matter, was the first certified B Corp PR firm nationally. The communications agency has been ranked among the top PR agencies for CSR and is the driving force behind the Global Impact Relations Network, a nonprofit organization that aims to educate communication professionals and marketers on how to use impact strategies, stakeholder engagement, strategic partnerships, and storytelling, to influence positive social and environmental impact.
About B Lab & B Corporation:
B Lab is a nonprofit that serves a global movement of people using business as a force for good. B Lab’s initiatives include B Corp Certification, administration of the B Impact Management programs and software, and advocacy for governance structures like the benefit corporation. B Lab’s vision is of an inclusive, equitable, and regenerative economic system for all people and the planet. To date, there are over 3,000 Certified B Corps in 150 industries and 70 countries, and over 70,000 companies use the B Impact Assessment. Visit bcorporation.net for more information.