Benefit Corporation, Dual-Purpose Entities And State-Owned Enterprises: “New” Models To Achieve Purpose Driven Capitalism

The article examines the role of benefit corporations, dualpurpose entities and state-owned enterprises (SOEs) as particularly suitable models for advancing sustainable development goals, due to their shared dual-purpose nature. After outlining the longstanding debate on corporate purpose, it offers a comparative analysis of dual-purpose entities and benefit corporations across different jurisdictions, highlighting the diversity of regulatory approaches and their implications for corporate responsibility, with specific attention to the Italian benefit corporation. It then explores the potential contribution of SOEs to the sustainability transition: while profit remains a central goal, SOEs are also mandated to pursue public-interest objectives, especially in sectors related to emissions reduction, sustainable waste management and green infrastructure. However, case studies and OECD reports reveal that governance challenges—such as political interference, low professionalization of boards particularly regarding sustainability, and related inefficiencies—risk undermining SOEs’ capacity to effectively support sustainable development goals. The article concludes that although benefit corporations, dual-purpose entities and SOEs are structurally better positioned to foster sustainability, they must overcome substantial regulatory, governance and operational barriers to fully realize their potential.