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Why we support the Better Business Act

By April 19, 2022August 4th, 2022No Comments
Why we support the Better Business Act 1

The environment is changing, and society needs to adjust with it. Businesses are realising that they need sustainable practices for their customers to not only see them as leaders but also to reflect well on an increasingly conscious global community.

At Solve, we spent an awful lot of time working out how to keep our company sustainable to the best of our ability. Therefore we are constantly asking ourselves: What kind of society do we want to live in? How to make better business decisions? How to be a better leader in business?

BCorp infographic with solve robot

With sustainable business certificates, like B Corp, rapidly raising awareness for sustainable companies, there’s global pressure to focus on their ‘triple bottom line.’ Recent research by NatWest showed that 85% of SMEs say that they believe that their customers want them to embrace sustainability. That’s HUGE!

This means consumers are starting to understand the impact mass consumerism is having on our planet, and are voting with their wallets to actively support businesses that are using their resources to create positive change. Resulting in companies gradually realising that to be an industry leader you need to consider your social and environmental impact.

As amazing as the above is, there still hasn’t been enough change at a governmental level, and society’s shifting priorities must be reflected in UK law. That’s where the Better Business Act campaign comes in. If you believe in ‘better business better world’ and are a proud business owner, then hopefully, you will agree with Solve and many other better brands that are signing the Better Business Act to help improve company law.

What Is the Better Business Act?
Why We’ve Signed the Better Business Act
Why BBA Is Better
What Are the Team’s Next Steps?
But There Is Always More We Can Do…
Better Business Day

What is the Better Business Act?

The Better Business Act (BBA) campaign will transform the way we do business so that every single company in the UK, whether big or small, takes ownership of its social and environmental impact and help reach the UN’s Sustainable Development Goals.

The Better Business Act’s objective is to amend Section 172 of the Companies Act to reflect four key aims:

-To align interests between shareholders, wider society, and the environment.

-To empower directors to exercise their judgment in weighing up and advancing the interests of all involved stakeholders.

-To fast track default change across all businesses, across industries, making it no longer optional to consider only shareholders and not stakeholders.

-To reflect this change in how companies report their balance between people, planet, and profit – via strategic or impact reports.

Better Business act infographic talking about: for the businesses who sign up to the bba - the average gender pay gap is 4% compared to 15 for the wider business population
Source: Better business Act Twitter

Why we’ve signed the Better Business Act

The tipping point is right in front of us, if we seize the moment as leaders, I am confident that business will be at the heart of securing a fairer and more sustainable future for everyone and that really would be something to tell the grandchildren about.
– Douglas Lamont, CEO of innocent and Co-chair of the BBA

Here at Solve, we agree that every business should be held responsible for its impact. We believe in creating good jobs, adding value to our community and society, and taking responsibility for our impact to build a better business together that we are proud of.

-The Better Business Act campaign will amend section 172 of The Companies Act. This will ensure that company directors are responsible for advancing the interests of stakeholders such as their workers, customers, and communities, alongside those of wider society and the environment.

-This is a unique opportunity to demonstrate UK leadership on the global stage – driving innovation, accelerating progress to net zero, and aligning with the UN’s Sustainable Development Goals and our government’s ambition to build a better future for our climate.

infographic of lifecycle -choose green suppliers - go paperless - save water - recycle & reuse - walk and cycle - create a green space - save energy

Why BBA is better

The BBA is an important step in the right direction for sustainable and ethical professional practices to drive better business. By encouraging businesses to adopt more sustainable practices, we can help protect our environment and create a more equitable future for all.

Solve has always been committed to sustainability and ethics, and we believe that the Better Business Act will help us continue to lead the way in these important areas. We urge all businesses to support this act, and we pledge to do our part to make it a success by supporting the better business experts where we can.

What's next for the business who join the better business act
Source: Better Business Act

What are the team’s next steps?

After becoming B Corp certified in 2019 we have been trying to put sustainability at the forefront of each decision-making process, and will always try to do more. We are currently developing our team’s knowledge and skillset to be able to offer up-to-date advice for our clients on their sustainable marketing journey and help promote their success.

A phot of mangrove tree's - Solve has donated 5000 mangrove trees in Madagascar offsetting 100,000 KG of CO2

But there is always more we can do…

We are always working towards building a better business. We want to use our growth to support the pressing issues of our world today, as listed by the UN’s Sustainable Development Goals, whether it’s climate action, gender inequality, responsible consumption, or production – we want to help.

Here at Solve, our social and environmental values are at the core of our work, we spend a lot of time working on our sustainable solutions and we ask our clients to do the same. Our team are always there for a helping hand and to show you how you can design sustainability into your company ethos – either in a small way or a HUGE way.

woman and boy at climate change protest

Better Business Day

The Better Business community is putting on an event to enact change, helping to fix urgent problems like gender inequality and climate change. We hope that the BBA will communicate to parliament that we can transform the way Britain does business and empower every corporation to take ownership of its impact, both social and environmental.

“Better Business Day in Parliament will be a pivotal moment in the campaign, marking our one-year anniversary and acting as a key campaign moment that helps to build further momentum before the Government lays out its legislative agenda for the year ahead in the Queen’s Speech.

This event is open to all supporters of the Better Business Act as well as parliamentarians, business leaders, and individuals who are interested in supporting the campaign.”- BBA

The BBA is asking you to write to your MP and let them know if you are attending on the 20th of April. We know this small change in the law can make a big change in Britain – and hopefully the rest of the planet. That’s why we’re urging you to call on our Government to make this change and help create a fairer, greener future for everybody.

When: 20th April 2022 at 10am
Where: Westminster, Bridge Street, Westminster, SW1A 2PW

Please join us in signing up to support the BBA campaign, and share it amongst your network.

Join us, act for change.

*House of Commons image by UK Parliament. This file is licensed under the Creative Commons Attribution 3.0 Unported license.

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