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FRC points out necessary action for effective ESG reporting

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  • Leaf - sustainability (green) Image

08 Jul 2021

A new paper from the Financial Reporting Council (FRC) discusses Environmental, Social and Governance (ESG) challenges, how they can be addressed and what actions the FRC intends to take by coordinating, connecting and contributing.

As a result of its work and outreach, the FRC has identified a number of challenges that have been grouped into six stages:

  • Production — better internal information leads to better decisions and better insight for stakeholders;
  • Audit and assurance — reported information is robust and reliable;
  • Distribution — information is made accessible to interested parties;
  • Consumption — this information leads to better decision making by stakeholders;
  • Supervision — information and activity is appropriately monitored and requirements are enforced;
  • Regulation — coordinated and coherent regulation leads to efficiency.

For the challenges that must be met in each stage, the paper then explains what the FRC intends to achieve by coordinating within the UK and internationally, by connecting with others across the international environment to foster solutions that are proportionate and effective and by contributing to the discussion through thought leadership, experimentation and coordinated policy consultation responses.

Please click to access the press release and FRC Statement of Intent on Environmental, Social and Governance challenges on the FRC website.

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