Many UK chief executives will have breathed a sigh of relief earlier this year when the European Parliament delayed environmental, social and governance (ESG) reporting requirements that would have applied to large non-EU businesses operating in EU countries.
But the momentum for greater corporate ESG transparency and reporting is unlikely to slow.
UK-registered companies with more than 500 employees or £500m in annual revenue must already complete annual sustainability and climate-related disclosure reporting, based on the framework of the G20’s Task Force on Climate-related Financial Disclosures.
British finance firms will need to start complying with Sustainability Disclosure Requirements (SDR) from May 2024.
Read on: why companies need to clarify their aims on ESG reporting
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