Given the social and environmental circumstances that arise in a globalized world like the one we live in, companies have had to rethink the role they play within society. This is how environmental, social and governance criteria have become more relevant in the business world, changing the paradigm from models that are based on profit solely to shareholders that promote environmental and social development. Hence, Governments have seen the need to regulate this phenomenon and Colombia is no exception. Through this research, we seek to present the legal elements of Benefit Corporations comparing Colombian regulation with the U.S law and Chile´s corporate form of business. Firstly, we will proceed to make a historical context of the corporations and the B movement, to understand the essence of the Benefit Corporations. Subsequently, we will review the environmental, social, and governance criteria, evaluating their relevance in the market. Finally, we will discuss the relevance of the implementation of Law 1901 of 2018.
