Chair welcomes FRC review on climate change reporting
10 November 2020
Darren Jones, Chair of the Business, Energy and Industrial Strategy Committee has welcomed the publication by the Financial Reporting Council of a review which concludes that corporate reporting needs to improve to meet the expectations of investors and other users on the urgent issue of climate change. The summary report is available on the FRC website here.
Darren Jones, Chair of the Business, Energy and Industrial Strategy Committee, said:
“The FRC’s review is welcome and reflects the increasing importance of businesses being held to account for issues relating to net zero, climate change and the environment. The Government will, of course, need to set out the plans, policies, and actions to achieve net-zero carbon emissions by 2050 but business and investors, by their actions and investment decisions, will play a major role in reaching this goal.
“Companies should be doing more to respond to public and investor demands on climate change. There’s a need for clearer data and information to enable investors to more effectively challenge businesses. Auditors and regulators also need to help ensure boards and companies are properly held to account for their stewardship, not least in preparing their businesses for the shift to a green economy.”
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