Sheard are proud to have joined the Better Business Act coalition

76% of the UK public believe that businesses should have a legal responsibility to protect the natural environment and 72% think businesses should have a legal responsibility to the planet and people, as well as maximising their profit¹. These statistics cannot be ignored.

The Better Business Act is a proposal to amend Section 172 of the Companies Act, so that the following 4 principles are a legal requirement for businesses –

1. Aligned Interests – The interests of shareholders should sit alongside those of wider society and the environment.
2. Empowering Directors – Directors must be empowered to exercise their judgement in weighing up and advancing the interests of all stakeholders.
3. Default Change – This change must apply to all businesses by default. It must no longer be simply optional to benefit wider stakeholders beyond shareholders.
4. Reflected in Reporting – Following this change, businesses must report on how they balance people, planet, and profit in a strategic or impact report, where one is currently required.

We believe all businesses need to challenge the mentality of ‘this is always how we’ve done business’, to ensure the interests of all stakeholders are advanced by the decisions we make, including wider society and the environment.

At Sheard, our vision is simple; to be an inspiring place to work and ignite change in the packaging industry. Joining the BBA coalition is a demonstration of our commitment to making changes towards more positive and meaningful impacts.

As a business we are already actively working towards becoming a B Corp , which rebalances purpose, profit, and people. The Better Business Act is a simple legislative solution that empowers directors to consider all stakeholders.

We would encourage anyone who is interested to know more about the Better Business Act to have a look on their website. If like us, you believe in the Better Business Act please join the coalition here!

References –

¹  betterbusinessact.org/what-the-public-thinks/