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In Q4 2021, QIC Global Infrastructure endorsed the conversion of Generate, its largest U.S. infrastructure investment company, to a Delaware Public Benefit Corporation (“PBC”) – a new class of for-profit corporations that are legally required to balance stakeholder needs and outcomes alongside financial considerations.
Generate’s conversion to a PBC is significant for QIC clients and infrastructure investors because it:
- Represents a nascent but accelerating global trend away from “Shareholder Primacy” towards “Stakeholder Capitalism” whereby commercial corporations elevate environmental and social objectives in their corporate purpose.
- Exemplifies a major trend towards legitimized and evidence-based sustainability performance to counter rising risks of green-washing in an increasingly environmentally conscious world.
- Highlights QIC’s industry leading efforts toward enhanced Environmental, Social, and Governance (“ESG”) performance across its portfolio and a pathway to Net Zero Emissions.
In this insight piece, find out more about the relatively new American corporate form of the PBC as a legally binding means to support Stakeholder Capitalism and to achieve corporate missions to further the public good, as well as the benefits of the PBC form for other infrastructure companies and infrastructure investors exploring a similar conversion.