UK Finance response to DBT call for evidence

We welcome DBT’s recent announcement of its intention to introduce UK Sustainability Disclosure Standards, based on standards issued by the International Sustainability Standards Board (ISSB).

We believe the UK’s standards should align with the ISSB’s without carve-out in content, and that disclosure against them should be required for a wide range of firms, with proportionality considerations as relevant for smaller firms. Our response sets out the benefits and cost savings we expect would result from such an approach, to aid DBT’s technical work to inform a decision on formal endorsement of the ISSB standards. We also provide some high-level comments on non[1]financial reporting.