Do SMEs need to report on ESG?

Donna Stofberg ACA considers the current requirements for environmental, social and governance (ESG) reporting in the UK and how small companies and micro-entities can play their part in working to achieve net zero goals

The current Financial Stability Board’s Taskforce on Climate-related Financial Disclosures (TCFD) are only required for large companies and are UK specific.

The International Sustainability Standards Board (ISSB) is currently collating responses to two consultations on international sustainability standards, but the general feeling is that, as these are fairly new disclosure requirements, not enough mature data is available to come up with relevant, comparative disclosures applicable for small and medium companies (SMEs).

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