BusinessCompany NewsBlair backs social reporting

Blair backs social reporting

Prime minister Tony Blair has thrown his weight behind moves toencourage companies to be more socially responsible.

Link: Social reporting increases in popularity

But he drew back in the Commons from giving an undertaking to put arequirement for social and environmental reportingin the next Companies Bill.

He was responding in the Commons to a call from Ilford North Labour MPLinda Perham, who introduced her own back bench CorporateResponsibility (Environmental, Social and Financial Reporting) Bill theday before.

Blair told her he could not give a commitment in precisely the terms shesought, but added: ‘The issues you raise around social responsibilityare the subject of discussions at the moment between the Department ofTrade and Industry and business.

‘We hope we can make some progress on that, although I would want to doso in a way that minimises any potential bureaucracy or regulation.’

Perham earlier said her bill – which has no chance of becoming law thisyear but could be taken up in the new Parliamentary year starting inNovember – was needed to ensure a level playing field betweenresponsible firms and competitors who undermined the standards for whichthe best companies strove.

It provided to mandatory reporting, a requirement to consult on majorprojects and a right for ‘stakeholders’ to challenge the content andaccuracy of reports.

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