Responsible investment campaigner Share Action has called on the government to use this year’s King’s Speech to introduce legislation that requires companies and investors to report on their social impact and the risks posed due to social issues.
The body is calling for the government to implement its delayed Sustainability Disclosure Requirements (SDR) regime and ensure it includes issues like health alongside the environment.
The SDR regime was withdrawn from the Queen’s Speech last year.
Fergus Moffatt, head of UK policy at Share Action, said that a well-designed policy is “key to unlock the potential of businesses and their investors” to have a more positive impact and help shape fairer, healthier societies.
“To boost public health, we’re calling on the government to include mandatory social and health reporting in its new policy agenda,” Moffatt added. “This greater transparency would drive up accountability and ambition, giving shareholders the information they need to ensure the companies they invest in are having a positive impact on people.”
Currently, companies and financial institutions have to report on impacts under the Taskforce on Climate-related Financial Disclosures (TCFD) framework.