About The Better Business Act

The story

Change the UK law to ensure every company in the UK aligns their interests with those of wider society and the environment.

The act

Our objective is to see these four principles reflected in an amended Section 172 of the Companies Act.

Your role

Together, we will ask the government to make this small change in the law, which will make a big change in the world, helping to create a fairer, greener future for everybody.

Britain needs business at its best

1000+ companies have chosen to be part of the coalition for a cleaner, greener, fairer future for all

The Story

The climate emergency and social inequality are profound and pressing problems, thrown into sharp relief by the COVID crisis, that can only be solved if we harness the enormous potential of entrepreneurs, innovation and enterprise.

The failure to align the interests of shareholders with those of wider society and the environment has contributed to a set of enormous challenges that threaten peoples’ health, wealth and the natural world.

76% in the UK want businesses to be legally responsible for their impact

Our research shows that UK voters and consumers want business to do better. Three quarters of the UK public think business has a responsibility to protect the environment and the majority favour brands that do good in the world.

The Better Business Act will transform the way we do business, so that every single company in the UK, whether big or small, takes ownership of its social and environmental impact.

BBA Story
Westminister

Freedom for business leaders to act in everyone’s interests

The best way to do this is to change the law that governs how businesses act. It can no longer be a choice to align the long-term interests of people, planet and profit. Businesses across the UK have proven this as a model for sustainable growth that drives innovation and entrepreneurship.

That’s why we are urging all of Britain’s business leaders to call on the government to amend Section 172 of the Companies Act to ensure businesses are legally responsible for benefiting workers, customers, communities and the environment while delivering profit.

To achieve this we are bringing together a broad and growing coalition of leaders from across all sectors and all regions of the UK to help deliver this new contract between business and society.

With your support we can and we will act to make sure that every business plays its part in creating a cleaner, greener, fairer future for all.

Click here to act now.

The Act

Our objective is to see these four principles reflected in an amended Section 172 of the Companies Act.

It can no longer be a choice to align the long-term interests of people, planet and profit. The Better Business Act will transform the way we do business, so that every single company in the UK takes ownership of its social and environmental impact.

Aligned Interests

The interests of shareholders are now advanced alongside those of wider society and the environment. This establishes a new principle of fiduciary duty within Section 172 of the Companies Act.

Empowering directors

This change must empower directors to exercise their judgement in weighing up and advancing the interests of all stakeholders.

Default change

This change must apply to all businesses by default. It must no longer be optional to benefit wider stakeholders beyond shareholders.

Reflected in reporting

Following this change, businesses must report on how they balance people, planet and profit in a strategic report or impact report, where one is currently required.

Britain needs business at its best

1000+ companies have chosen to be part of the coalition for a cleaner, greener, fairer future for all

The Better Business Act Parliamentary Reception took place on 14 April 2021. To find out more about the Act and the politicians across Westminster who are backing the campaign to change the law, click here to watch a recording of the event.

Download our campaign overview

Draft Amendments

To indicate what these changes could look like, we’ve created an example ‘Better Business Act’

Your Role

Here are four ways the Better Business Act supports business leaders to transform the way Britain does business so every single company takes ownership of its social and environmental impact

Proving the value of aligned interests

We have compelling evidence to show that businesses thrive when they align the interests of shareholders, the planet and society. A range of data and case studies are in place to inform and inspire.

Building a coalition of leaders

The Better Business Act coalition brings together businesses who are already leading the way. Our network of business ambassadors is made up of leaders who have the authority and credibility to inspire and convince the rest of industry to join us.

Writing to your MP

We know this small change in the law can make a big change in the world. That’s why we’re urging you to call on the UK Government to make this change and help create a fairer, greener future for everybody.

Taking our ask to government

We’re inviting our coalition of over 1000 businesses to Westminster to meet their MPs. This will be a chance to tell them about why you support the Better Business Act and encourage them to get behind the change. You’ll also hear from our amazing Co-Chairs and meet our Coalition Members throughout the day.