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ICAS responds to UK’s sustainable finance framework consultations
Yahoo Finance·2025-09-19 11:26

Core Viewpoint - The Institute of Chartered Accountants of Scotland (ICAS) is advocating for stakeholder engagement in the UK government's consultations on sustainable finance strategy, emphasizing the importance of establishing sustainability reporting standards and climate-related transition strategies [1][2]. Group 1: Stakeholder Engagement - ICAS has been actively gathering feedback from its members through surveys and workshops with government officials from the Department for Business and Trade (DBT) and the Department for Energy Security and Net Zero (DESNZ) [2]. - ICAS director of sustainability, Fiona Donnelly, expressed strong support for the UK government's ambition to lead in sustainable finance, viewing the consultations as essential for modernizing non-financial reporting [2]. Group 2: Reporting Standards - ICAS has called for a clear, consistent, and proportionate reporting regime that provides meaningful information, reduces regulatory burdens, and ensures uniform application criteria across the market [3]. - The organization has urged the government to balance international comparability with the flexibility for businesses to present their unique narratives [3]. Group 3: Transition Plans - UK financial institutions and major companies will be required to develop transition plans aligned with the Paris Agreement's 1.5°C target [4]. - The government plans to outline its policy approach later in the year after reviewing consultation responses, with ICAS indicating its intention to remain engaged with DBT, DESNZ, and other stakeholders [4].