These new findings, described by the Financial Times as “one of the world’s most ambitious efforts to reform capitalism for the 21st century”, conclude four years of engagement on purposeful business and corporate accountability, setting the agenda for business policy to embrace purpose.
Luke Fletcher, partner and co-lead of the Impact Economy practice at Bates Wells, is a member of the steering group for The Future of the Corporation. As author of the legal requirements for B Corps and the proposed Better Business Act, which is now supported by over 700 businesses, he has been at the centre of some of the key developments referenced in the report and is delighted to have contributed:
“This report from the British Academy sets out fresh and bold proposals from leading thinkers which show how we can pivot to a more regenerative and restorative form of capitalism. Bates Wells is honoured to have sponsored, supported and help steer The Future of the Corporation programme. By recommending that a sustainable purpose is placed at the heart of company law and regulation, we believe this final report pinpoints the reforms we need to make sure UK plc is truly future fit.”
We know that CEOs, investors and policymakers need a framework to ensure action and accountability for corporate purposes. What are we aiming for, and how can we make the shift? Find out in the report.
Our Impact Economy practice
- We are the law firm for commercial organisations wanting to create a positive impact. As a purpose and impact led business we understand the often complex issues faced by organisations who want to do business well for the benefit of shareholders and society, and have created the tools to help them.
- Making a profit is core to all businesses but our goal is to combine this with a real social purpose. Our values are pivotal to us, they shape our decisions and the way we live and work. We were the first UK law firm with B Corp certification, awarded to businesses that seek to benefit people and planet, alongside profit.
- Our clients are diverse, from start-ups, to well-established businesses, to impact investors looking to achieve real change in the world.
- Whether you need empathetic employment advice informed by your values; real estate lawyers that understand the value of sustainable workplaces and premises; specialists who can help resolve seemingly intractable disputes ethically; or experts in impact investing and finance, our impact economy team challenge what is possible in legal expertise delivery.
This information is necessarily of a general nature and doesn’t constitute legal advice. This is not a substitute for formal legal advice, given in the context of full information under an engagement with Bates Wells.
All content on this page is correct as of September 22, 2021.