Effective October 1, 2018, Delaware business entities have the option to file for a Certification of Adoption of Transparency and Sustainability Standards (CATSS), a voluntary public display of an entity’s commitment to corporate responsibility and global sustainability. While the act enables an entity to customize the standards by which it assesses and reports the impact of its activities on society and/or the environment to its specific needs, it does require that the entity’s governing body approve such standards and assessment measures as well as make them publicly available. Entities that choose to participate must complete the required filing and pay any associated fees, after which the entity will be considered a “reporting entity.” Reporting entities must then file annually (between October 1st and December 31st of each year), including a renewal statement that addresses any changes made to the entity’s standards and assessment measures. For assistance filing a Statement of Adoption, contact the Parasec Delaware office at 888.372.7273. To learn more about House Bill 310 and the new certificate, read the bill here.
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If you are a publicly traded domestic or foreign corporation in the state of Illinois, House Bill 3394 will impact you. Read more: lnkd.in/gyEkW5Z