Chancellor sets new standards for environmental reporting
Chancellor Rishi Sunak has said large businesses will need to set out their green credentials to potential investors under new world-leading reporting rules.
Details about the new standards were set out in a road map in the new Sustainability Disclosure Requirements that will mean businesses must start disclosing their environmental impact.
Mr Sunak has called on the investment community to help cement UK’s status as the best place in the world for green investment.
The new requirements, which will also apply to pension schemes, investment products and asset managers and owners, are part of the government’s landmark reforms to create a greener financial system.
Around 70 per cent of the UK public want their money to go towards making a positive difference to people or planet. But the lack of common definitions around environmental sustainability is leading to greenwashing, misleading investors and consumers about how green a product really is.
The new Sustainability Disclosure Requirements (SDR) will ensure investors have the information they need to make informed decisions about where to put their money.