Question to the Department for Business and Trade:

To ask His Majesty's Government whether their approach regarding environmental, social and governance (ESG) criteria differs from that of the European Union and, if so, in which areas.

The Government’s plans regarding company reporting on environmental, social and governance matters are set out in Mobilising Green Investment – 2023 Green Finance Strategy (March 2023). These plans differ from the European Union’s (EU) plans in several areas. Specifically, the UK will not adopt the European Sustainability Reporting Standards. Instead, the UK Government has stated its support for the International Sustainability Disclosure Standards and we are currently assessing the suitability for UK companies of the first two standards that have been issued by the International Sustainability Standards Board (ISSB).