The UK government’s publication of the finalised version of the highly anticipated UK Sustainability Reporting Standards do not go far enough, says ICAS.
It believes more comprehensive and holistic reporting would be achieved by expanding these standards to include reporting on the impact of organisations on people and the planet!
ICAS director of sustainability, Fiona Donnelly (pictured), said: “A ‘double materiality’ approach, long championed by ICAS and embraced in Europe despite the recent simplification measures to reporting, would better serve the needs of multiple stakeholders and support the long-term public interest.”
She went on: “It’s disappointing that the standards no longer specify how long the reliefs for non-climate reporting and Greenhouse Gas Scope 3 reporting will apply. We appreciate that these topics are complex and rely on reporters obtaining third-party data, but these reliefs may be misused and result in incomplete and less useful disclosures.”
