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The Government is planning to make the disclosure of climate-related financial information mandatory for listed companies and large private businesses. So how should employers prepare for that? What is HR’s role in this? We’ll come on to that shortly, but first the background.
The government’s six-week consultation on this closed on 5 May and it’s expected that draft regulations will be published later this year. The plan is to introduce reporting obligations in stages from 6 April next year, with mandatory reporting due to follow by the year 2025. This expands on the Financial Conduct Authority’s new listing rule introduced earlier this year that requires companies with a premium listing to state whether their disclosures are consistent with the recommendations of the Treasury-led Task Force on Climate-Related Financial Disclosures, or to explain why they have not provided such a statement.