Anselm Doering has worked hard to make his company, EcoLogic Solutions, into a poster child for environmentally and socially responsible business practices. “We’re as green as they come,” said Mr. Doering, whose firm brought in about $2 million in revenue in 2011 by making a green cleaning product for use in institutions.
Indeed, EcoLogic powers all its vehicles with vegetable oil. It uses steam from a cogeneration plant in the Brooklyn Navy Yard, where the firm is located.
Now Mr. Doering hopes to add to his green and socially responsible bona fides, thanks to legislation recently passed in New York state. The bill, which went into law in December, creates a new corporate form called the benefit corporation. It allows companies that try to achieve a “triple bottom line”—social, environmental and financial goals—to pursue their nonfinancial mission, even if it means failing to maximize profits.