Question

To ask the Secretary of State for Business, Innovation and Skills, if he will bring forward legislative proposals to require companies and financial institutions to produce an annual integrated sustainability report.

The UK already requires quoted companies to report, where necessary for an understanding of their business, on environmental matters. Companies are required to report their policy, principle risks and outcomes.

In addition, UK will implement directive 2014/95/EU that requires reports to cover, amongst other matters, environmental policy. This disclosure will include a discussion of the company policy, including the due diligence measures implemented, the outcome and the principle risks related to the environment related to the company’s operations, business relationships, products and services.

Considering the requirements already in place and those necessary to implement the EU Directive, we have no current plans to bring forward additional legislation proposals on this issue.