Today (5 February 2020) a Private Members’ Bill has been introduced to Parliament, which could help co-operative and community benefit societies to be a more powerful tool for people and the planet.
To have a chance of being law, government and MPs will need to be convinced that the Bill has the support of the sector and that it will have a strong positive impact for co-ops, people and the planet.
The Bill proposes a way for co-operatives to grow and develop their businesses whilst enhancing their commitment to member ownership and control. Also known as the Green Share Bill, it will focus new funds on environmentally sustainable investments within the co-op sector.
Co-operatives are already leading the way in sustainable business and green projects. The Green Share Bill removes barriers to their expansion, places a duty on sustainability and could see a greater roll-out of renewable energy projects such as solar, wind and zero carbon homes – all which create green jobs and skills and generate cheaper, cleaner energy.