Corporate Reporting

August 25, 2021

Published: FRC

Over the last year, the FRC and the Lab issued publications that address how companies can better report on environmental, social and governance (ESG) matters, particularly in relation to climate and stakeholders, in a way that meets investors’ needs. The reports are: Climate-related corporate reportingReporting on stakeholders, decisions and Section 172; and the FRC Statement of Intent on Environmental, Social and Governance challenges. While the focus is on information for investors, these cover areas which are of growing interest to wider stakeholders.

Climate Thematic 

The FRC’s Climate Thematic Review reflects input from the entire FRC and addresses the increasingly urgent issue of companies being held to account for the way in which they report their impact on climate. The report highlights current market practice, outlines our expectations of all reporting entities for the future, as well as investors and auditors, and where we will focus work on this key topic in the future.

FRC Statement of Intent on Environmental, Social and Governance challenges 

The ESG statement of intent and a SASB snapshot build on the FRC’s commitment to supporting TCFD and SASB reporting in the UK and show that whilst much good work has happened, there is more to do. For more information on how the statement lays out some challenges for ESG information and commits the FRC to further actions, click here.

Reporting on stakeholders, decisions and Section 172 

The Financial Reporting Lab published guidance and examples of better practice for reporting on stakeholders, decisions and Section 172. The report highlights that information on stakeholders and on decisions can help investors understand how a company is progressing in fulfilling its purpose and achieving long-term success. Section 172 statements can then be a helpful bridge between the two types of information.https://www.frc.org.uk/news/august-2021-(1)/corporate-reporting

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