Responding to the UK government’s consultation on draft ISSB-aligned UK Sustainability Reporting Standards (UK SRS), the Institute of Chartered Accountants of Scotland (ICAS) argues that the standard “should go further” by requiring disclosures on material impacts as well as financially material sustainability-related information.
Summarising the response, ICAS director of sustainability Fiona Donnelly said: “More comprehensive and holistic reporting would be achieved by expanding these standards to include reporting on the impact of organisations on the environment and society.”
“This ‘double materiality’ approach, long championed by ICAS and embraced in Europe, would better serve the needs of multiple stakeholders and support the long-term public interest,” she added.
Companies:ICAS
People:Fiona Donnelly
