Morning, Thursday, 18th September 2025
Online
This conference will examine next steps for non-financial reporting in the UK.
It will bring together key stakeholders and policymakers to discuss the way forward for corporate reporting reform, with a consultation announced by the Secretary of State in October 2024 on modernising the non-financial reporting framework. Areas for discussion in the agenda include the development and implementation of UK Sustainability Reporting Standards, implications of the Companies (Accounts and Reports) (Amendment and Transitional Provision) Regulations 2024, and the FCA’s work on regulation of ESG ratings providers.
Delegates will look at how recent and upcoming reform can be implemented in a way that reduces unnecessary reporting burdens while supporting transparency, accountability, and sustainable growth.
UK Sustainability Reporting Standards
Delegates will discuss priorities for the application of UK SRS with the Government expected to consult on the draft standards, following the Technical Advisory Committee advising endorsement of the ISSB’s IFRS S1 ‘General Requirements for Disclosure of Sustainability-related Financial Information’ and IFRS S2 ‘Climate-related Disclosures’ in December 2024. What is needed to support UK businesses in meeting new requirements will be discussed, looking at how international voluntary standards might complement mandated obligations, implications for investor and market confidence, and next steps for understanding how ESG data can support multiple disclosure requirements.
Sessions will explore how UK SRS might interact with international approaches to corporate reporting and the risks of divergence from Europe, as the EU Commission seeks to reduce the administrative burden on businesses by simplifying sustainability reporting requirements.
Assurance
Delegates will also consider how assurance of sustainability disclosures can be strengthened, following publication of the FRC’s final report in February 2025 highlighting concerns around quality consistency. The potential for establishing a policy framework will be discussed, including what oversight structures may be needed to provide clarity for providers, reporters, and investors, as well as priorities for setting standards as the FRC consults on the introduction of a UK version of ISSA 5000.
Simplifying the reporting regime
Sessions in the agenda will also explore what the simpler reporting regime will mean in practice, including the impact of updated thresholds and new exemptions under the Companies (Accounts and Reports) (Amendment and Transitional Provision) Regulations 2024.
Opportunities to evolve the non-financial reporting framework will be assessed, including addressing the growing need for reporting against cyber risk, the role of company boards and directors, and priorities for streamlining data collection. Discussion will also centre on preparations for transitioning to the Audit, Reporting and Governance Authority, as well as the potential for the draft Audit Reform and Corporate Governance Bill to bring further legislative change to the reporting framework.
ESG ratings providers
Proposals for ESG ratings regulation will also be looked at, with HM Treasury planning to lay secondary legislation in June 2025 before the FCA consults on finalising regulatory standards. Delegates will assess how the regime can promote transparency and good governance, with discussion on priorities for managing conflicts of interest, and the way forward for providers in demonstrating compliance.
We also expect a focus on the broader role of non-financial reporting in supporting the UK’s strategic objectives, including alignment with international standards, implications of digital reporting, and evolving definitions of social value.
Overall areas for discussion include:
- corporate reporting reform: changes under 2024 regulations, including updated thresholds and new exemptions for medium-sized companies
- UK Sustainability Reporting Standards: progress on the UK SRS consultation and its relationship with global standards such as IFRS S1 and S2
- regulation of ESG ratings: FCA’s proposals for a new regime, including scope, transparency, and proportional treatment of smaller providers
- sustainability assurance: market readiness, gaps in capacity, and the case for a clear assurance policy framework
- transparency and accountability: achieving robust disclosures when exemptions apply, and maintaining confidence in governance and oversight
- digital and future-focused reporting: the potential of virtual AGMs, digital formats, and new ways to define and report on social value
- international alignment and competitiveness: how UK frameworks interact with global standards, and the risks of divergence from the EU
- non-financial reporting in economic strategy: supporting sustainable growth and investment through effective reporting
All delegates will be able to contribute to the output of the conference, which will be shared with parliamentary, ministerial, departmental and regulatory offices, and more widely. This includes the full proceedings and additional articles submitted by delegates. As well as key stakeholders, those due to attend include officials from Defra; DESNZ; Home Office; HM Treasury; MHCLG; NAO; and DAERA, NI.
