Roberts AngelaANGELA ROBERTS (Labour): Thank you. Good morning Madam Speaker. It is a pleasure to rise and take a call on the Companies (Directors' Duties) Amendment Bill. We've already heard in previous sessions about Gordon Gekko and his call that greed is good and that is around about the time I started studying business. I'm very very aware of the capitalist model that I was taught about in the 80s and the wonderful thing about this bill is that it actually is a liberating bill. It is an enabling bill for those of us who appreciate that business has a part to play in the way that we deploy our resources in our economy. This bill liberates us.You know many of us know that directors have—one of their core jobs is to be compliant make sure their companies are compliant; more than 10 Acts that they have to be responsive to. To codify the idea that profit maximisation doesn't have to be the only thing that drives you as a company director is a fabulous thing. It is appropriate to consider issues other than profit maximisation. It's really disappointing to hear the other side of the House look at business in such a blunt and simplistic way that the only way that a company can succeed is by maximising profit and if they're not maximising profit then they're going to completely collapse and there will be hundreds of people made unemployed. That is such a lazy way to look at companies. Absolutely it is a lazy way to look at companies. We're hearing those words from the other side of the House. Companies are able to pat their heads and rub their tummies at the same time. They can be successful and profitable and they can look at the greater good.The young people that we represent here because they cannot be here for themselves will be pleased to know that we are enabling companies to better consider intergenerational impacts. For those of us who live in Taranaki who are dealing with legacy pollution issues every day we know that when a company can actually say You know there's a piece of legislation that says it's all right for us to not have to maximise our profits today because we want to make sure that our whenua that our water that our oceans are clean for the future generations." this is an enabling piece of legislation.We know that modern corporate governance theory has moved beyond profit maximisation when I studied it at university those of us who are supporting not just companies but we're on boards of directors all over the place where we are considering the greater good. As company directors they have to make sure that they determine purpose that the culture of a company is one that helps them to make a profit. That's fine but to able to say "Look it says in the law it's OK to do that." I think is a really great way to support a cultural shift that we need to happen. If we're going to rely on capitalism to save the planet best we help give them the tools to make that shift.This is a simple little bill. It is a small but mighty little bill. It is really important that we aren't just seen to be doing better but that we are enabled to do better. We have to ensure that our corporate partners are able to join us in making a great future for this country and because of that I commend this bill to the House."