Recently, EQ joined a very important coalition of like-minded businesses: the Better Business Act (BBA) is about transforming 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. Together, we’re taking a straightforward ask to 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.
Why is it needed?
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 know that UK voters and consumers want business to do better, research shows that three-quarters of the public think business has a responsibility to protect the environment and the majority favour brands that do good in the world. In short, the world needs every business at its best — creating good jobs, helping to fix pressing problems and adding value to society.
Behind the Better Business Act is a broad – and growing – coalition of businesses. Household names like Waitrose, Danone, Ben & Jerry’s, Innocent, BrewDog, Cook and Abel & Cole, as well as hundreds of others, of all shapes and sizes, across the UK. And it is not just businesses who are behind the BBA: a range of thought leaders and academics including Paul Polman, Social Value UK and the Institute of Directors are vocal supporters.
This is why we have joined this campaign – the Better Business Act is business-led, driven by leaders who recognise that the law has fallen behind business culture and who have proven that this approach to business works for everyone. I’m sure you’ll agree that our company shares these views.
To find out more about this important campaign, visit: betterbusinssact.org.