Speaking at a conference on corporate social responsibility, Beckett said the government would formulate the policy over the next few months after consultation with interested parties, and publish its strategy in the summer."This strategy will set out the framework for future action by government and business, to drive the transition toward sustainable development," she said.
"It will also set out the steps that we will be taking to fulfil our commitment, made in Johannesburg, to sustainable production and consumption," she said, referring to pledges made at the World Summit on Sustainable Development in September.
Beckett held out the prospect that the central government's 13 billion pound annual procurement budget would reflect ethical, environmental and social criteria.
"Leading responsible businesses have increasingly looked to their supply chains to ensure that those they do business with are also acting responsibly," she said. "Governments must do the same."
Beckett's speech came as delegates at the conference called on national governments and international bodies to strengthen legislation aimed at enforcing good practice on businesses in environmental, ethical and social policy.
Delegates said more needed to be done to make sure companies do not just act to boost profits even when it is at the expense of the environment, workers or communities.
"Sustainable development is unlikely to be delivered by a multitude of companies pursuing their own interest unless global regulatory practice and governance is made stronger," said Chris Marsden, chairman of Amnesty International's UK Business Group.
"There is a huge amount they (national governments) can do."
George Cox, director general of the Institute of Directors, however, rejected the need for government intervention.
Treating workers well, investing in the communities, and the efficient use of resources boost the bottom line and therefore the best companies naturally operate responsibly, he said.
"I believe 'good' business, can be good business," he said.