Despite the growing pressure to be more transparent, the all-encompassing nature of environment, social and governance (ESG) reporting requirements was also a concern, with little specific guidance on what should be reported.

While many chairs showed a strong interest and understanding of ESG activities within their organisations, their involvement in decision-making processes, particularly related to environmental and social elements, was often limited and their primary role focused on risk management, compliance, and ensuring effective reporting, revealed a report by the Financial Reporting Council (FRC).