It calls for policymakers to reform the governance of UK businesses by changing the Companies Act and adding a duty for directors to consider the social, economic and environmental impact of their business alongside profitability and returns for shareholders.
Such a measure could drive growth, it said, as businesses that consider all their stakeholders – such as B Corps, social enterprises and co-operatives – outperform their peers with faster growth, higher levels of innovation, more investment, and greater levels of staff engagement.
If these varied lovelinesses increase corporate growth then they’re already included in shareholder interests. The Act only needs to be changed if they don’t increase growth.
I don’t think they’re stupid at all, Tim.
Crashing this plane with no survivors is the plan.
social enterprises and co-operatives – outperform their peers with faster growth, higher levels of innovation, more investment, and greater levels of staff engagement…
citation needed
“Such a measure could drive growth, it said, as businesses that consider all their stakeholders – such as B Corps, social enterprises and co-operatives – outperform their peers with faster growth, higher levels of innovation, more investment, and greater levels of staff engagement.”
I think John Lewis begs to differ…….
If they’re outperforming – then why aren’t they the norm? Why are people choosing other corporation types?
Philip,
The authors of that word salad would highlight the NHS as an enterprise with fast growth (look at the increased number of patients put on waiting lists) , higher levels of innovation (ground-breaking disease cures for conditions rarely found in the indigenous population funded by the taxpayer at only £1.5m per dose), more investment (albeit forcibly extracted by government from taxpayers with no say in the matter and spent on even more diversity consultants) and greater level of staff engagement (look at their enthusiastic little faces as they proudly man the picket lines).
In every one of these respects the “Envy of the world” leads the way.
Excuse me, has anyone seen a company annual report recently, with all the acres of space dedicated to mandatory ESG disclosures and pathway to net zero nonsense! Anyone who feels that the current disclosures and duties need to be increased should be fed to the wood-chipper. In any case, as academic studies show, companies who go hard on ESG do not perform better than the ones who go slow
john
https://en.wikipedia.org/wiki/Lysosomal_acid_lipase_deficiency
Wolman disease, a recessive genetic problem caused mostly by cousin marriage / incest
Shaoh, 8, had Wolman disease diagnosed before he was born… Hashir Nawaz, 8, had Wolman disease diagnosed at three months old…
500,000 quid a year for each treatment. NICE
I’ve an inclination that diseases of in-breeding should be looked on the same as things such as smoking – it’s self inflicted in full knowledge of the consequences of the actions.
Self inflicted is a bit harsh @jgh, it isn’t the bairn that was doing the inbreeding. Closer might be foetal alcohol syndrome?
Companies Act 2006 already stipulates that.