Question to the Department for Business and Trade:

To ask His Majesty's Government what analysis they have made of the advantages and disadvantages of environmental, social and governance obligations on UK companies.

Reporting on environmental, social and governance matters provides transparency to investors and other stakeholders, improving investment decisions. The Government believes that a mix of voluntary and mandatory reporting provides the right balance between transparency and reducing burdens on companies.

The Government supports the work of the International Sustainability Standards Board, which aims to align sustainability reporting globally, enabling investors to effectively compare investment decisions across markets. The Government is currently undertaking a Review of Non-Financial Reporting in order to reduce business burdens and will shortly consult on the next steps on the review.