What Are Public Benefit Corporations (PBCs)?

PBCs focus not just on profits, but other stakeholders such as people and the planet. And their numbers are growing.

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Astute investors tracking the initial public offerings (IPOs) of companies such as eyewear maker Warby Parker and green shoe manufacturer Allbirds might have noticed that these companies are registered as public benefit corporations (PBCs).

Until recently only private companies or subsidiaries adopted this corporate structure, and PBCs were beyond the reach of the typical individual investor.

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Ellen Kennedy
Personal Finance Editor, Kiplinger.com

Ellen writes and edits personal finance stories, especially on credit cards and related products. She also covers the nexus between sustainability and personal finance. She was a manager and sustainability analyst at Calvert Investments for 15 years, focusing on climate change and consumer staples. She served on the sustainability councils of several Fortune 500 companies and led corporate engagements. Before joining Calvert, Ellen was a program officer for Winrock International, managing loans to alternative energy projects in Latin America. She earned a master’s from the U.C. Berkeley in international relations and Latin America.