Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential merits of amending Section 172 of the Companies Act 2006 to ensure company directors’ align the interests of (a) people and (b) planet with profit.

Section 172(1) of the Companies Act 2006 requires company directors to have regard to the interests of the company’s employees and the impact of the company’s operations on the community and the environment. Since 2019, directors of large companies have been required to report annually on how they have met this duty.