RegulationCorporate GovernanceTories push for greater corporate responsibility

Tories push for greater corporate responsibility

Big bosses should face pay or bonus cuts if they don't make more of an effort to tackle social problems, say Tories

The remuneration and bonus packages paid to senior executives should be
linked to their employer’s corporate social responsibility rather than its
profits, say the Tories in a policy report unveiled today.

Under Conservative Party proposals, businesses would be required to do more
to tackle social problems such as obesity, binge drinking and climate change, or
face penalties, by way of pay or bonus cuts to company bosses.

The system proposed, referred to as a ‘responsibility deal’, would be
voluntary, but Tory leader David Cameron did not rule out legislating if
businesses failed to co-operate in the measures.

In his speech at the Spring Conference on Saturday, Cameron vowed to make
Britain more family friendly. He criticised companies, which he said made
parents’ lives more difficult, singling out supermarkets who stocked chocolates
at the counter and media outlets who broadcast programs unsuitable for children
during inappropriate hours.

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