The 20th April marked a year since the launch of the Better Business campaign, which calls for the introduction of the Better Business Act, a change in legislation that would transform the way Britain does business so every company would not be run solely to generate shareholder profit. Together with over 1,000 other businesses, Bates Wells is calling for changes to amend the Companies Act to align shareholders’ interests with those of wider society and the environment.
Luke Fletcher, partner at Bates Wells and author of the Better Business Act told the Financial Times: “We’re not looking to create a new legal form, but to change the purpose of the company, to change that paradigm… It’s in a sense a very limited amendment, but one that would have far-reaching consequences.” Read the full article (paywall).
We joined the Back the Act rally in Westminster to speak directly with MPs and encourage the UK government to include the amendment to Section 172 of the Companies Act in the next Queen’s Speech. We heard from Mary Portas, co-chair of the campaign, as well as the CEOs of Innocent Drinks, Ella’s Kitchen, Pukka Herbs and graze.com talking about why they’re backing the campaign.