Recent changes to the Companies Act in the United Kingdom have come into force, which will mean greater environmental reporting within Directors’ annual reports.
The changes are significant as they put the environment, for the first time, at the heart of Director’s strategic planning and reporting
The aim is to ensure that businesses build for the long-term by adapting to become more economically successful in the low-carbon economy and establish their future viability during a time of economic uncertainty and growing environmental challenges.
Additionally, companies will be required to consider environmental risks and opportunities in the new Directors’ Strategic Reports, ensuring that environmental issues are factored into long-term business decision-making.
It is hoped that these regulations will enable companies to manage longer-term environmental challenges such as climate change and ensure the drive towards a resource efficient and low-carbon economy.
A copy of the Regulations can be found at http://bit.ly/15VPr75