1. Business can and should be a force for good in our world.
Prime Minister Theresa May, November 2018
RESPONSIBLE BUSINESS
Doing business responsibly is a matter for individual companies, with Government support:
Our Industrial Strategy for national prosperity prioritises responsible long-term business growth.
Our Civil Society Strategy sets out the role of responsible business in building a society that works for everyone.
This is a Government priority – from the PM, through to our Ministers Jeremy Wright Imapct19 conference said ‘
The idea of social responsibility as a bolt-on option for businesses is long gone.
We are seeing so many businesses that have a social purpose at their heart.
But there is scope to do more and get greater numbers of businesses on board.

2. WHAT IS RESPONSIBLE BUSINESS?
Responsible business leaders:
BELIEVE
Believe business should deliver value for all stakeholders
Ask themselves difficult questions about their role and responsibilities
DRIVE CHANGE
Change established strategies and ways of behaving
Form partnerships to solve difficult problems
HOLD THEMSELVES ACCOUNTABLE
Account transparently to all stakeholders for their impact
WHAT IS
RESPONSIBLE BUSINESS?
Business done right is a force for good in our society.
Responsible businesses don’t just comply with the law. They build positive relationships with employees, customers, suppliers and communities, as well as their shareholders and investors, and they seek to curb any negative impacts they may have on people and the environment. They partner with like-minded organisations in private, public and third sectors to achieve shared aims. These are not just worthy things to do, they make good business sense. Leading companies place social and environmental responsibility at the heart of their strategies because it improves risk management, stimulates innovation and creates long-term, sustainable value.

3. SOCIETY’S EXPECTATIONS OF BUSINESS
Many businesses are pursuing social missions:
of consumers believe that the most successful brands of the future will be those that make a positive social contribution (IPSOS MORI, 2016)
62%
Consumer trends
millennials indicate that a “sense of purpose” is a major factor in their choice of employer (Deloitte, 2016) and 90% of business students are willing to take some salary sacrifice to work for a responsible employer (UN, 2017)
6 in 10
Employee trends
Of the general public think that CEOs should take the lead in driving positive social changes.
But only 48% think the way business works is good for society
(Edelman Trust Barometer, 2018)
79%
of general public
SOCIETY’S EXPECTATIONS OF BUSINESS
of UK investors would like their money to support profitable companies that are also making positive social contributions (Good Money Week, 2016)
62%
Investor trends
Moreover, there is a growing body of evidence that there is not a trade-off between profit and purpose. Instead, for many businesses, pursuing purpose also improves financial performance:
Studies show that corporate purpose can improve financial performance by up to 17% (Burson-Marstellar & IMD, 2010)
17%
Financial performance
Our work builds on changes in how businesses are regarded by citizens:

4. DELIVERING RESPONSIBLE BUSINESS ACROSS GOVERNMENT
We influence and support business to be a force for good in society
DELIVERING RESPONSIBLE BUSINESS ACROSS GOVERNMENT
Build belief
Catalyse change through partnerships
Strengthen accountability
Many players in Government have a role in delivering this work, eg BEIS, DCMS, Cabinet Office, DFID. And of course it’s important that we work with business and other stakeholders too.
Building belief - We strengthen the responsible business movement by catalysing coalitions of advocates, calling out success stories, and being prepared to challenge less responsible business behaviour.
Catalyse change through partnerships - We catalyse partnerships between businesses, government and civil society to deliver social value and to drive change i business behaviour.
Strengthens accountability - We encourage businesses to hold themselves and others to account by building purpose into their core and being transparent in their reporting.
Legislative and regulatory f/work and also helping to create markets

5. OUR ACTIVITY BUILD BELIEF
EG We are establishing a new Responsible Business Leaders Group to drive the debate on the role of business in society, and to lead action.
CATALYSE PARTNERSHIPS
EG The Inclusive Economy Partnership drives collaboration across government, the private sector and civil society to tackle major social challenges:
Mental health
Transition to work
Financial inclusion & capability
OUR ACTIVITY
BUILD ACCOUNTABILITY
EG Working to match what investors and stakeholders seeking, with what business is reporting on the UN Sustainable Development Goals.
Responsible business leaders group - will drive the debate on the role of business in society and lead action
Inclusive Economy Partnership - supported 18 social innovators to reach 50,000 more people in its first year - by catalysing partnerships with major UK businesses and civil society.
Sustainable Development Goals - we celebrated businesses’ contributions to delivering the SDGs and are working with industry to develop effective ways of measuring and reporting.
Getting involved – IEP – welcome involvement. New website
Leaders group – v early stages, just appointing a chair, so keep eyes open for further news and detaisl

6. alison. jeffrey@culture. gov. uk www. iep. challenges. org www. gov