Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, whether she is taking steps to encourage businesses to update their Corporate Social Responsibility polices.

British business has an outstanding reputation for corporate responsibility, with 10 of the world’s top 100 companies ranked by social responsibility based in the UK. These companies thrive within the UK’s world leading corporate reporting and governance frameworks. For example, the Companies Act 2006 requires directors to have regard to the environment, employees, customers, and suppliers, among other matters. Larger companies are required to report how directors have had regard to these matters when taking decisions to promote companies’ success. This is in addition to requirements to disclose information relating to social matters, human rights and corruption within annual reports.