Benefit societies, the concrete answer to the sustainability challenge

(Il Sole 24 Ore Radiocor) - Deadlines are still open for submitting applications to take part in the third stage of the Benefit Competition, promoted by the Ministry of Enterprise and Made in Italy. Until next May 4, companies already established as Benefit - or planning to become one - can send their application for the event scheduled for June 26, 2026 in Ancona. Companies based all over Italia can participate. Useful information can be found in the dedicated section of the MIMIT website, which aims to give visibility and recognition to the best entrepreneurial benefit experiences or those in the process of becoming one, demonstrating how it is possible to combine economic success and positive social impact. Indeed, benefit companies represent a concrete answer to the growing demand for sustainability, overcoming the traditional dichotomy between for-profit companies and non-profit organisations: they pursue the objective of making a profit while having a positive impact on society as a whole.

As pointed out in the Notebook of Business Economics dedicated to 'Corporate regulations and opportunities between finance and sustainability: Benefit Societies' by the National Foundation of Chartered Accountants, a new model is developing in this way: a 'profit-for-purpose' paradigm, in which 'sustainability is not just a reporting requirement, but the very engine of competitiveness and long-term value creation'. It can therefore be said that that of the benefit societies is a 'for-profit' model in which the traditional profit versus non-profit dichotomy is overcome, demonstrating that profit and positive impact can not only coexist but also reinforce each other. In practice, the benefit society model is based precisely on the compatibility between economic activity and common benefit: economic activity becomes the instrument for generating common benefit. This can generate competitive and reputational advantages, especially in a context in which companies face new economic, environmental and social challenges. Furthermore, the transition to a more sustainable economy is being promoted in the European and international arena.

Although there are as yet no specific and exclusive financial instruments or investment funds for benefit societies, as pointed out by the aforementioned Notebook, being a benefit society can make it more 'convenient' for an investor to bet on this type of reality. Considering that the purpose of the funds is the economic return on one's investment, this is not only compatible with the purpose of benefit societies, but investors also derive a sustainable return on investment, since benefit societies are organised with management models in which financial factors are integrated with ESG factors and measure impacts in terms of common benefit. And these are issues that the financial world is increasingly paying attention to. Also from the banking point of view, there is a move towards an increased focus on ESG factors in credit ratings. This means that benefit societies, by virtue of their type of model, are at the forefront of such opportunities.

From a legal point of view, it is worth remembering that Italia was the first European country to introduce a specific legal form for benefit companies, in 2016, inspired by the US-derived Benefit Corporations. Any company can acquire this status: it is sufficient to include in its corporate purpose, alongside its economic activities, the specific common benefit purpose it intends to pursue. Every year, in addition to the financial statements, benefit societies must publish an Impact Report, in which they state their specific objectives, assess the impact generated and set new targets for the following year.

These companies see themselves as an integral part of the communities in which they operate and strive to activate collaborative and cooperative relationships, generating beneficial effects on the territory. Materiality analysis is part of this framework, allowing them to map how their impacts translate into opportunities, including financial ones, while minimising risks. As indicated in the "2026 National Research on Benefit Societies", the vast majority of these realities have chosen to systematically and transparently address the material issues of their sector, maximising the positive impact on all stakeholders and reducing exposure to financial risk. These aims are often flanked by others, linked to the historical vocation of the company, to the needs of the territory or of particular social groups, integrated into the corporate purpose with the same systematicity and rigour.