Preparing for New Sustainability Reporting Regulations in the UK
In partnership with Richard Howitt, former Chief Executive Officer of the International Integrated Reporting Council, the UN Global Compact Network UK developed a report to help companies take practical steps to prepare for upcoming regulatory changes. It aims to demystify some of the concepts around reporting frameworks and upcoming regulation as well as help companies to engage with their value chain and realise strategic gains through their sustainability reporting.
Description
The regulatory frameworks of the sustainability reporting ecosystem are rapidly evolving. After a long period, mainly shaped by industry self-regulation, companies now face comprehensive expectations to design coherent and integrated reporting that meets jurisdictional requirements as well as investors' and other stakeholders' expectations.
Over the past few years, sustainability reporting has increased its integration of ESG-related information into mainstream financial reporting. The mandatory European Corporate Sustainability Reporting Directive (CSRD) and the upcoming UK Sustainability Disclosure Standards will demand organisations to report alongside their financial disclosures, their risks and opportunities relating to sustainability matters, including their climate and social impact.
More than just compliance, reporting on sustainability performance represents a great opportunity for organisations to materialise their sustainability strategy, mitigate risks, improve their operational performance, and be assertive in communicating their sustainability efforts to different stakeholders.
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UN Global Compact Network UK, 153-157 Goswell Road, London, EC1V 7HD
In partnership with Richard Howitt, former Chief Executive Officer of the International Integrated Reporting Council, the UN Global Compact Network UK developed a report to help companies take practical steps to prepare for upcoming regulatory changes. It aims to demystify some of the concepts around reporting frameworks and upcoming regulation as well as help companies to engage with their value chain and realise strategic gains through their sustainability reporting.