What does it mean that Cotonomy is a California Benefit Company?

As a regular coporporation our legal and fiduciary responsibility would be to make all decisions in the context of maximizing shareholder value. We dissagree with such a narrow focus. As a public benefit corporation we can make decisions in the broader context of how they affect our customers, environment and community. We see this flexibility as being crucial to being a valuable business to the community we serve. As a public benefit company, we are subject to evaluation by an external third party to validate whether we are meeting our public benefit standard. We think this level of transparency is good for our customers and Cotonomy.