The Better Business Act is a proposal to amend Section 172 of the Companies Act 2006 so that companies are legally obligated to operate in a manner that benefits their stakeholders, including workers, customers, communities and the environment, while seeking to deliver profits for shareholders.
Which is a long winded way of saying that it’s a better way of doing business. It’s not all about profit. It’s about helping people and the planet.
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 (or what we like to refer to as ‘the bare minimum’).
Because the fact is, 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.
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.
This is why betternotstop has joined a coalition of like-minded businesses in supporting the Better Business Act. Together, we are making a straightforward request of the government: change Section 172 of the Companies Act to ensure that company directors are responsible for advancing the interests of shareholders alongside those of wider society and the environment.
The COVID crisis, the climate emergency and social inequality are profound and pressing problems that can only be solved if we harness the enormous potential of entrepreneurs, innovation and enterprise.
We have joined this campaign because we believe the world needs every business at its best – creating good jobs, helping to fix pressing problems and adding value to society. This aligns with our company’s stated mission and values. It aligns with the work we do at betternotstop every day; creating clear sustainability goals to increase revenue and customer bases for our clients, providing employee training and education on environment and sustainability topics, and more.
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.
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.
If you would like to learn more about the Better Business Act and how sustainable practices can help your business, please get in touch with us via our Contact Page to discuss how we can help you as a Sustainability Strategy Agency.