We wish to ask members whether they believe BIVDA should join the campaign ‘The Better Business Act’, which seeks to make businesses legally responsible for their societal and environmental impact.
The campaign wants to enact legal change ‘to ensure that all businesses are legally responsible for benefiting workers, customers, communities and the environment while delivering profit.’ It was founded by Mary Portas and can count Iceland, Ella’s Kitchen and Brewdog among its over 2000 supporters.
They seek to change Section 172 of the Companies Act in four ways:
- The interests of shareholders are now advanced alongside those of wider society and the environment.
- Directors must be empowered to exercise their judgement in weighing up and advancing the interests of all stakeholders.
- This change must apply to all businesses by default.
- Force businesses to report on how they balance people, planet and profit in a strategic report or impact report, where one is currently required.
If BIVDA was to join, they would like us to list our name and logo on their website; help with social media promotion and ongoing advocacy; potentially participate in future events; and support their principles and pledge not to undertake any corporate activity that would undermine the objectives of the campaign.
We would greatly appreciate any feedback – to be sent to ben@bivda.org.uk by next week.
The link to the campaign’s website is here.
