In this Issue:
JUNE EVENT: Shaping Markets to Create Positive Change
A year ago, we hosted a talk by Dr. Joy Anderson on the practices of shaping markets to create social and environmental change. While social enterprise and social entrepreneurship talk about using the market, Criterion and its partners are focused on shaping the terms, the practices, the rules of the markets. She returns to the Forum to share what she has learned over the past year in three initiatives, focused on gender, fish and church. Women Effect Investments is building a field around investing with a gender lens—making decisions that support gender equality while seeking a financial return. Criterion has been working on several parallel projects seeking market transformation in the global seafood market, one project funded by the Packard Foundation. The final initiative builds the leadership, imagination and infrastructure around Church as an Economic Being—seeing churches as both implicated and actor in the economy.
Across these disparate markets, Criterion has found patterns in effective market formation. The discussion will draw on these examples and others to further the important conversation on how we shape markets and systems to create social and environmental change.
Joy Anderson founded Criterion Ventures in 2002 and has led it since. In 2005, she was a founder, with Kevin Jones and Tim Freundlich of Good Capital, a San Francisco based venture fund. Dr. Anderson has a PhD in American history, serves on the boards of Lutheran Community Foundation and Village Capital, and is a frequent speaker on capital, markets and social change. Recently, Joy was ranked #51 on Fast Company’s third annual ranking of The 100 Most Creative People in Business.
Thursday, June 23rd
Hanson Bridgett LLP
Pre-registration is required.
Participants will have a clear understanding of the range of possible legal structures that can be employed for their newly forming venture, pros and cons of each of those structures as it applies to their prospective venture, and will be prepared to work with legal counsel to take the next steps in understanding and establishing the optimal legal structure.
Thursday, June 23rd
Hanson Bridgett LLP
Support AB 361 (Huffman) Benefit Corporation Legislation in California
Businesses and organizations from all over California strongly support AB 361 (Huffman) Benefit Corporation Legislation. Benefit Corporation Legislation enables the development of a growing sector of the economy comprised of innovative businesses that seek to create benefit for society in addition to profit for shareholders. Business leaders in this new economy want the legal protection, currently not afforded under the California corporate code, to pursue a higher corporate purpose than simply maximizing shareholder value. Importantly, companies seek to do far more than simply pick a single charity or environmental task to improve their image (often called “green washing”), but rather seek to improve the world we work in by creating high quality jobs that improve quality of life in our communities. Benefit Corporation Legislation contains the general public benefit provisions that ensure that consumers, investors, and policy makers can clearly distinguish companies who are pursuing a higher corporate purpose from those that are doing something more narrow for marketing purposes.
Benefit Corporation Legislation also provides additional accountability to shareholders by redefining the fiduciary duty of directors, requiring them to consider the impact of their decisions on the long term interests of society, not just the short term interests of shareholders, even when considering a sale of the business. To ensure increased transparency to shareholders and the public, Benefit Corporations are also required to assess their overall social and environmental performance against a third party standard. By doing so, the company and all its stakeholders are made aware of how well the Benefit Corporation is doing relative to independent, credible, transparent, and comparable standards. Markets thrive on clarity and transparency, and these third party standards provisions create a level playing field and a more efficient and effective marketplace. They prevent the bad actors from simply cherry picking a few facts that are favorable for their image.
Benefit Corporation Legislation is now law in Maryland, Vermont, Virginia and New Jersey. Benefit Corporation Legislation has been introduced and is progressing rapidly in New York, Pennsylvania, Michigan, North Carolina, and Hawaii. It has attracted strong bipartisan support in every state, because it is entirely voluntary and has no budget impact.
Hanson Bridgett recently welcomed Edward Davis and Geoff Gibbs to the firm. Ed’s practice will focus on corporate law including corporate finance, corporate governance, securities, tax, mergers and acquisitions, and emerging technology. Geoff's practice will focus on commercial transactions including renewable energy matters and private-public partnerships, administrative and regulatory law, and complex negotiations.
On May 24th Jonathan Storper presented "Understanding the Benefit Corporation" for the Business Law Section of The Bar Association of San Francisco.
On June 8th Hanson Bridgett sponsored USGBC's GreenerBuilder 2011 Conference.
On June 9th Hanson Bridgett was named Official Law Firm of the 34th America’s Cup.
Executive Certificate Program Accepting Applications for Fall
The Executive Certificate Program in Sustainable Leadership at Presidio Graduate School is accepting applications for the fall session. Join us for an information webinar to learn how graduates of the program have transformed their careers and how to apply for the session beginning August 4th in San Francisco.
For more information, email email@example.com or call Carl Schneebeck at (415) 655-8956.
Join Sustainable Industries’ next webinar as they unveil the winners of the 2011 Top 10 Green Building Products awards, live from the West Coast Green Salon at PCBC 2011. Judges will discuss their favorite products and field audience questions. View 3D models of the winning products while designers from Igloo Studios explain the use of models in the design process.
Featured panelists include Kirsten Ritchie, Director of Sustainable Design at Gensler and Heather Gadonniex, EPD Program Manager at UL Environment.
Thursday, June 23rd
May 30th – June 1st, Europe’s key social impact innovators met in Amsterdam at SOCAP/Europe, Europe’s inaugural gathering at the intersection of money and meaning. The conference gathered leading investors, entrepreneurs, philanthropists, government funders, and innovators for a dynamic conversation on how to fund innovative solutions for the world’s greatest challenges. The event sold out with over 650 attendees from 50+ countries. Click here for a summary of the event coverage, highlighting those in attendance, various initiatives and organizations.
Virtual Impact - The business of online communities with Randy Paynter, CEO of Care2
With 15 million members making a difference, Care2 is the largest and fastest growing online community of impact driven people on the web. Randy Paynter, the Founder & CEO of Care2, will share his experiences from over 10 years as a social entrepreneur, as well as the challenges and triumphs of building Care2, and the future of online communities and their impact. Sundeep Ahuja, founder of blissmo.com, co-founder of Sparked and the original Marketing Director of Kiva.org, will moderate the conversation and take questions from the audience.
Wednesday, June 29th
WISE Summer Solstice Event
Through the initiative of the Keiretsu Forum WISE committee (Women Investing in and Supporting Entrepreneurs), we are dedicated to increasing the participation of women investors in our ranks. Join us for our sixth annual Summer Solstice reception discussing the topic of women and early stage investing. A panel of women angels and entrepreneurs will speak about their experiences of starting, growing, and investing in new ventures.
Tuesday, June 21st
Hanson Bridgett LLP
RSVP to Nina Quasebarth at firstname.lastname@example.org.
Hanson Bridgett LLP, 425 Market Street, 26th Floor, San Francisco, CA 94105