The Company Directors (Duties) Bill, introduced by MP Martin Wrigley, proposes a significant shift in UK corporate governance. By amending Section 172 of the Companies Act 2006, it would require company directors to consider the broader impact of their decisions on employees, communities, and the environment, rather than focusing solely on shareholders. The legislation is backed by non-profit B Lab UK and several prominent businesses, advocating for a stakeholder-led model. Proponents believe this approach not only benefits society but also improves the economy, with B Corps showing better growth than traditional firms.
The proposed Company Directors (Duties) Bill aims to shift the focus of UK company directors from solely benefiting shareholders to considering the broader impact of their decisions.
Supporters of the Bill argue that businesses need to embed a stakeholder-led model that prioritizes the interests of employees, customers, and the environment.
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