06 Mar Accreditation scheme marks anniversary with call to champion people
Good Business Charter publishes first annual report on state of responsible business in the UK
Three years ago, on the cusp of the Covid-19 pandemic, a new minimum standard to define ‘good business’ was launched, in partnership with the TUC and CBI, and with founder members which included Capita, Deloitte, Brompton and London City Airport.
A Last Supper, hosted by founder Julian Richer, with key trade associations just before lockdown brought such gatherings to an end and sowed the seed for a later streamlined Good Business Charter collaboration with FSB. The 1,000th member, just two years later, would be another membership organisation, the Institute of Directors, showing the broad appeal of the Charter.
The Good Business Charter celebrates three years of recognising, encouraging and championing responsible business behaviour, having accredited over 1,200 organisations from the private, public and third sectors representing 215,880 workers. Today it publishes a report to look back over the past year and highlight the work of individual organisations like Schroders Personal Wealth, who last year produced their first Responsible Business Report, using the clear framework the GBC offers.
The Good Business Charter sets out 10 minimum standards governing care for workers, customers, suppliers and the environment, all whilst paying your fair share of tax. It is accessible to organisations of all sizes and sectors and sets a benchmark for standards for responsible business behaviour. The problems are wide-ranging and the solution needs to be credible, meaningful and holistic.
- Around 3.7 million people (12% of UK workforce) are in low paid and insecure work. Source: Living Wage Foundation
- Median FTSE 100 CEO pay currently stands at £3.41 million, an increase of 39% on median CEO pay levels in January 2022. It is 103 times the median full time worker’s pay of £33,000. Source: High Pay Centre
- 74% of people would rather shop with and 75% work for businesses that can prove that they are paying their fair share of tax. Source: Fair Tax Foundation
- 400,000 small businesses face winding up because of late payments. Source: FSB
CEO, Jenny Herrera, commented:
“We take the integrity of the GBC very seriously and set a minimum standard for what good business looks like, especially with regard to being socially responsible (the S in ESG). We are working with an academic institution to ensure going forwards we start measuring the right metrics from our accredited organisations to give hard evidence on how GBC accreditation is raising the bar on business behaviour in this country.”
When the GBC launched it said ‘the time was right for a Good Business Charter to encourage responsible business behaviour and publicly acknowledge those organisations who exhibit such behaviour’. Three years on it has never been more important.
Founder, Julian Richer, and GBC accredited organisations TSB and the Institute of Directors will be hosting a virtual event on 23rd March to explore the GBC’s potential to move the bar and facilitate how organisations that care can showcase their social impact. To register for the event, see link here: https://www.eventbrite.co.uk/e/showcase-your-social-impact-tickets-519716996527
See the full annual report here: GBC Annual Report 2023
Photo Credit: Good Business Charter