The Better Business Act
The world needs business at its best.
First published on February 19, 2021
We’re going to create an economy where every business is at its best
The climate emergency and social inequality are profound and pressing problems, thrown into sharp relief by the COVID-19 crisis, that can only be solved if we harness the enormous potential of entrepreneurs, innovation and enterprise. The world needs business at its best.
But for the past half-century, business has become separated from the communities it needs to serve. The relentless pursuit of profit at all costs has contributed to a set of enormous challenges that threaten peoples’ health, wealth and the natural world.
76% in the UK want business 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.
Freedom for business leaders to act in everyone’s interests
This means freeing decision-makers in business to act in everyone’s long term interests – combining traditions of good stewardship and responsibility with new ideas to meet the challenges of the 21st century.
The best way to do this is to change the law that governs how businesses act. It can no longer be a choice for companies to consider their impact on the future. That’s why we are urging all of Britain’s business leaders to call on the UK 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.
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.