The UK Treasury has issued a thematic review of sustainability reporting in central government annual reports and accounts, focusing on the disclosures’ effectiveness, usability, relevance and compliance with the Treasury’s guidance.
It found “variation in reporting quality and scope”, and support for simplified mandatory reporting, more consistent requirements and alignment with international standards
The review concludes: “There is a strong case for change for sustainability reporting in terms of going further than existing requirements. This has been supported by the thematic review results. [The Treasury] will consider next steps while also monitoring other external developments in the private sector and by standard setter.”
On the back of the review, the Treasury said it will simplify mandatory public sector reporting and issue updated principles-based guidance for reporting.