The Lex Mundi Pro Bono Foundation Launches Definitive Guide to Growing Social Enterprise

The Lex Mundi Pro Bono Foundation, in collaboration with more than 60 Lex Mundi member firms and led by Morrison & Foerster LLP, launches unprecedented report including recommendations to assist policymakers in accelerating the formation and growth of social enterprises.

The Lex Mundi Pro Bono Foundation recently launched a new report on the formation and development of social enterprise globally, Legal reform as a catalyst for social enterprise: an international social enterprise law & policy report. The work, commissioned by Catalyst 2030, a global movement which brings together social entrepreneurs and social innovators from all sectors to attain the Sustainable Development Goals by 2030, is an unprecedented look at legal policies that affect social enterprise around the world.

The report reviews laws and policies across 83 jurisdictions, with insight from hundreds of regional counsel who participated in the project, to offer a comparative analysis of how different countries support and enable the development of social ventures. It includes observations from each inhabited continent and every major legal structure, including key recommendations to assist policymakers in catalyzing the formation and growth of social enterprises in their respective jurisdictions.

As part of its recommendations, the report identifies six pillars in a successful strategy to better support the growth of social enterprise:

  • clearly defining social enterprise
  • enabling fiduciaries to consider stakeholders other than business owners
  • providing tax benefits to social enterprises and their investors
  • implementing easier investment vehicles for social enterprises
  • guarding against corruption and “greenwashing”; and
  • maintaining flexibility to allow for scaled application of rules and “opt-in” features.

 

The Pro Bono Foundation’s Managing DirectorIsis Bous, said:

“Across the world there has been growing concern about inequality, unsustainability and climate change for decades. The COVID-19 pandemic brought sharply into focus the need for businesses to contribute to meaningful change. Social enterprise has an absolutely critical role to play in this.

“Working closely with Morrison & Foerster LLP and more than sixty Lex Mundi member firms around the world for Catalyst 2030, this report offers a definitive guide on how governments can help social enterprises achieve greater impact. Collaborating with the World Economic Forum through the Schwab Foundation, we hope the valuable insight in this report will provide clear direction to decision makers looking to support social enterprise and further their missions to drive social, economic, and environmental change.”

Led and formalized at the World Economic Forum in May 2020, the Pro Bono Foundation joined the COVID Response Alliance for Social Entrepreneurs, supporting many interested stakeholders in the Alliance with this project. Leading up to the February announcement of the Alliance’s new name, Global Alliance for Social Entrepreneurship, the report launches alongside the 2022 virtual Davos Agenda and accompanying programming such as Transforming through Trust: How Social Innovators are improving the lives of 722 Million.

Dr. Francois Bonnici, Director of the Schwab Foundation for Social Entrepreneurship and Head of Social Innovation at the World Economic Forum, said:

This comprehensive report will be an extremely useful guide in so many countries. There has been a great need for a current and updated review of such breadth and depth on legal reforms across the world and we are already finding it a useful reference and guide as we support the advancement of policies and ecosystem support for social enterprise. “

Jeroo Billimoria, cofounder of Catalyst 2030, continued:

While our collective work is already catalysing the changes needed for SDGs’ success, time and again our members face numerous legal and policy hurdles that hinder their efforts. We are grateful to Morrison & Foerster and Lex Mundi Pro Bono Foundation for creating this seminal report as a vital step toward helping social entrepreneurs flourish. Through our annual Catalyst 2030 Awards, we celebrate governments who facilitate the work that we do and recognise the value that social entrepreneurs bring. We look forward to seeing how this report increases engagement among stakeholders around the world.

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In this Issue

  • Landmark UN Resolution on the Social Economy Passes with the Help of the Lex Mundi Pro Bono Foundation and its Collaborators
  • Congratulations to Alfredo Silva, an Incredible Lex Mundi Member Lawyer and Champion
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  • 2023 Lex Mundi Pro Bono Foundation Awardees
  • Ensuring No Woman Delivers in the Dark
  • Lex Mundi Recognized at the World Economic Forum Annual Meeting
  • Unleashing the Full Potential of Scientists Worldwide

Awards Honor 5 Lex Mundi Member Law Firms for Providing Critical Pro Bono Legal Services and Support to Social Impact Organizations

The 14th Annual Lex Mundi Pro Bono Foundation Awards were announced during the 2023 Lex Mundi Connect + Collaborate Annual Conference in San Francisco on Thursday, May 4, 20023. These awards honor Lex Mundi member law firms that provide critical pro bono legal services – helping to strengthen the global rule of law, support the global social entrepreneurship movement, and improve lives, the environment, and communities around the world.

Guidance on Authorized Transactions Related to Earthquake Relief Efforts in Syria

This guidance responds to specific questions OFAC received related to earthquake relief efforts in Syria and explains how to provide legitimate humanitarian assistance to the Syrian people in compliance with U.S. sanctions.

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Lex Mundi Wins Prestigious Catalyst Business Commitment Badge at the World Economic Forum

Lex Mundi has been awarded a Catalyst Business Commitment badge at this year’s World Economic Forum meeting in Davos, following the work of the Lex Mundi Pro Bono Foundation to support social enterprise.