The Better Business Act, a campaign led by B Lab UK, is garnering significant support with 3,000 businesses advocating for changes to UK company law. The initiative aims to amend Section 172 of the Companies Act, promoting a multi-stakeholder model where businesses prioritize not just shareholders but also employees, customers, communities, and environmental concerns. Launched in 2021, the campaign reflects a growing demand for sustainable business practices. Following public support, the UK government is set to reform corporate governance, making this a pivotal moment for business accountability.
A major business-led campaign calling for a shift in UK company law has reached a significant milestone, with 3,000 businesses now backing the Better Business Act.
The campaign seeks to amend Section 172 of the Companies Act to align shareholder interests with those of employees, customers, communities and the environment.
The growth of the coalition from 300 to 3,000 businesses in just three years is testament to a mindset shift. 'Business as usual' isn't working.
Putting purpose at the heart of business unleashes growth, said Tessa Clarke, Co-Founder and CEO of Olio.
#better-business-act #uk-company-law #sustainable-growth #corporate-governance #multi-stakeholder-model
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