Corporate Non-Financial Reporting in the UK: Diversions from the EU Sustainability Reporting Framework

Wangwei Lin
Additional contact information
Wangwei Lin: School of Law, Centre for Commercial Law and Financial Regulation, University of Reading, Reading RG6 7BA, UK

Sustainability, 2022, vol. 14, issue 15, 1-18

Abstract: In late 2019, the European Union presented the EU Green Deal, which targets climate neutrality by 2050. Under the EU Green Deal’s Corporate Sustainability Reporting Directive (CSRD), a clear sustainability reporting and assurance framework was proposed as a significant aspect of the EU Sustainable Finance Package in 2021. However, because of its exit from the EU in 2020, the UK will cease to adopt EU legislations and will have to produce its own laws to achieve climate neutrality. Against this backdrop, the purpose of this paper is to explore how best to improve the non-financial reporting mechanism in the UK, in order to assist the UK in transitioning to a more sustainable economy. This paper investigates the unique challenges for non-financial reporting in the UK caused by Brexit, and the significance and effectiveness of risk-based regulation approach in the UK. The paper proposes a ‘really responsive’ industry-based non-financial reporting framework for the UK to address its unique challenges.

Keywords: sustainability reporting; non-financial reporting; the corporate sustainability reporting directive; responsive risk-based regulation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/14/15/9134/pdf (application/pdf)
https://www.mdpi.com/2071-1050/14/15/9134/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:14:y:2022:i:15:p:9134-:d:871725

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().