WEIR SUPPORTS ETHICAL COMPANIES LEGISLATION

Mike Weir MP, SNP Spokesperson on Trade & Industry, speaking during the Report Stage of the Companies Bill in the House of Commons supported moves to ensure that company directors had a duty to consider the impact of their companies director’s primary duty had always been to the shareholders of the company they should now have to consider the wider impact of their actions.

Commenting on the mover, Mr Weir said:

“The world is changing and companies need to change with it.  There is much greater concern around environmental and trade issues and company directors need to consider these.

“Increasingly politicians are considering green taxation.  Companies should be thinking about that now and about how they will change their audit procedures in order to assess the carbon footprint, and how the company impacts on the environment.

“We are told that we need to reduce carbon emissions by 90% if we are to stop climate change and have a planet on which to live.  We cannot do that as individuals, no matter how many low voltage light bulbs we use, no matter whether we have windmills on our roofs.  That will not bring about a sufficient drop in emissions. Companies must be part of the process and to ensure that is the case we must change the culture of many companies.”

Mr Weir added he did not think that the government legislation went far enough but it was none the less a step in the right direction.