Modifications to the companies act are to be introduced in Parliament today. The measures would include requiring public listed companies to include in their annual reports an assessment of the welfare of their "employees, the community and the environment as well as the welfare of their company". Under pressure from backbenchers their relationships with suppliers will now also have to be assessed as well. The details of this have yet to be mooted. Backbenchers may feel that this does not go far enough as they wanted this provision extended to all large and medium sized concerns (PLC or Ltd).
I agree with them that, if these measures are to be of any use to consumers, than these further steps need to be taken. We are always told that the way to change corporate behaviour is by being an intelligent consumer. That is of course impossible without access to information.
We'll have to wait and see how this actually plays out after the lobbyists get their hooks into ministers and the members of the CBI all threaten to run away.
I agree with them that, if these measures are to be of any use to consumers, than these further steps need to be taken. We are always told that the way to change corporate behaviour is by being an intelligent consumer. That is of course impossible without access to information.
We'll have to wait and see how this actually plays out after the lobbyists get their hooks into ministers and the members of the CBI all threaten to run away.
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