UK: Lords debate on corporate governance and accountability

There was an hour long debate in the House of Lords yesterday evening, initiated by Lord Harrison, on corporate governance and accountability. The official record of the debate - Hansard - is available here. Lord Harrison began the debate by asking: what steps are the Government taking to improve corporate governance and accountability with respect to social and environmental issues? Responding on the Government's behalf, Baroness Wilcox (the Parliamentary Under-Secretary of State, Department for Business, Innovation and Skills) reiterated the Government's view that "the best solutions are those which are owned and driven by market participants and investors in companies ... we want to work with the companies and the City to develop business-led solutions" (col. 210).