Committing to Better Business for a better future for all

We’re delighted to share that Hymans Robertson is now a member of the Better Business Act coalition, a movement focused on driving positive change across the business landscape in the UK.

The Better Business Act is a business-led campaign, driven by a coalition of over 2,900 leaders who recognise that the law has fallen behind business culture and who are committed to demonstrating and sharing how a more responsible approach to business works for everyone.

A campaign that makes sense

Aligning with this campaign, and being an active participant in the conversations, makes sense to us as a business and furthers our commitment to ethical and sustainable business practices. Driven by B Lab, the work of The Better Business Act is valuable, ultimately encouraging businesses to operate in a way that benefits not only shareholders but also employees, communities, and the environment. It’s about working to benefit all stakeholders, not just shareholders.

Gill Tait, Staff Partner said, "the changes that the Better Business Act coalition strive towards align closely with our outlook and belief that business can, and should be, a force for good. They make sense for the UK’s economy as well. Recent research suggests that all companies behaving in alignment with these goals could deliver a £149bn boost to UK GDP, give the lowest paid UK workers a £2,288 a year pay rise and raise capital investment by £86bn per year."

A straightforward ask to government

The Better Business Act is taking a straightforward ask to government: update Section 172 of the Companies Act to ensure that company directors are responsible for advancing the interests of wider society and the environment alongside those of shareholders.  

There’s power in collective responsibility and in collective action. Which is why aligning ourselves to the B Corp movement and the Better Business Act campaign, not to mention the Pensions for Purpose community, Pension Equity Group and other industry wide groups focused on driving positive change for people and planet, is critical. Forming coalitions of like-minded individuals and businesses will affect change and accelerate progress and we’re delighted to use our experience and expertise to contribute where we can to address the problems of climate emergency and social inequality. 

Research shows a growing public demand for businesses to have legal responsibilities beyond profit, with 77% advocating for a focus on people and the planet, up from 72% in 2020. We’ve certainly noticed an uptick in interest from clients, from staff and from our newest recruits in the areas of sustainability and responsible business, so we’ve seen this demand firsthand. 

In short, the world needs every business at its best - creating good jobs, helping to fix pressing problems and adding value to society. This is why we’ve backed this campaign.

Visit www.betterbusinessact.org to read more about the campaign and read more about our commitment to purpose in our Impact report 2024.

Becoming part of the Better Business Act is one of many ways that Hymans Robertson drives positive change in the financial services industry and builds on our B Corp Certification last year. Our work has a positive impact on the financial futures of millions of people, while we’re committed to minimising our impact on the environment and giving back to our communities. The group we join today aligns with all of these priorities, with a clear aim of introducing new legislation that would bring about markable change.

 Gill Tait, Staff Partner, Hymans Robertson

Research by Demos, available here: https://bcorporation.uk/news-stories-and-events/news/new-report-says-change-to-company-law-could-add-149bn-to-the-uk-economy/