The roadmap sets out details on new sustainability disclosure requirements for businesses to start disclosing their environmental impact and alignment with net zero targets in a bid to eliminate the tendency towards greenwashing, where companies mislead investors about their position.

The new requirements, which will also apply to pension schemes, investment products and asset managers and owners, are part of the government’s reforms to create a greener financial system.

Any new reporting rules will be subject to public consultation, but the government aims to enact legislation by 2022 with the framework set to come into effect possibly as early as year end 2022.