UK regulator ditches ESG proposals for company boards in updated governance code

Financial Reporting Council

Michael Holder
clock • 4 min read

The Financial Reporting Council has opted against the inclusion of ESG expectations in corporate governance code in favour of less "intrusive and prescriptive" requirements.

Britain's financial auditing regulator has dropped plans to add ESG requirements in the UK Corporate Governance Code in a bid to limit administrative burdens on businesses "to the minimum necessary", it announced today (22 January). The Financial Reporting Council (FRC) - the independent government agency which regulates auditors, accountants, and actuaries - this morning published several revisions to the UK Corporate Governance Code which company boards are expected to adhere to. The changes, which follow the FRC's "largest ever" stakeholder consultation last year - have been limite...

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