UKSIF response: Department for Business and Trade, Smarter regulation non-financial reporting review: call for evidence

Oscar Warwick Thompson
Oscar Warwick Thompson 17th August 2023

In our response to the Department for Business and Trade’s non-financial reporting view call for evidence, we stress the importance, above all, of high-quality, comparable, and decision-useful corporate sustainability disclosures, which will actively assist our members’ investment and financing decisions in the UK and global economy, and ultimately drive long-term value across all companies.

We acknowledge the need for a proportionate approach from government and regulators to the disclosure of non-financial information by issuers, particularly from small and medium-sized enterprises, and other groups. For smaller businesses specifically, we expect they should provide relatively less reporting on this information, and reporting should be proportionate to their relevant risks.

Our response looks to identify a number of areas of the UK’s corporate reporting regime that policymakers could examine further with the objective of, where possible, reducing the reporting burden for all issuers, while crucially maintaining a globally-leading sustainability disclosures framework in the UK for private-sector businesses. Should an appropriate balance be achieved in this respect, the opportunities for the UK’s status as an attractive international destination for business and investment could be considerable, as well as the UK’s leadership in driving the global transition to net-zero emissions.

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