Professor Nick Rowbottom has advised on the development of the new Sustainability Reporting Standards, published by the Department of Business and Trade.
The UK Government has issued new guidance for companies and investors to help them report more clearly and accurately on sustainability risks and opportunities linked to their business operations.
The UK Sustainability Reporting Standards (SRS) were published by the Department of Business and Trade on Wednesday, 25 February. The guidelines were shaped by work from the UK Sustainability Disclosure Technical Advisory Committee (TAC), which included Nick Rowbottom, Professor of Accounting and Corporate Reporting, at the University of Birmingham.
Professor Rowbottom’s research focuses on how extensions and innovations in the corporate reporting model are shaped, constructed and delivered. Through collaborations with regulators and firms, his research addresses sustainability reporting.
The new SRS framework aims to make sustainability reporting clearer, more comparable, and more trustworthy. The guidance has been split into two parts:
UK SRS S1 focuses on general sustainability information. It covers how companies report on governance, strategy, sustainability-related risks and opportunities, metrics and targets.
UK SRS S2 focuses on climate issues, such as climate-related physical and transition risks.
The new Standards will mean that investors can make better decisions, companies report information more consistently, and capital markets allocate funding to more sustainable economic activity that can thrive in the future.
Nick Rowbottom, Professor of Accounting and Corporate Reporting at the University of Birmingham, said: "The UK Sustainability Reporting Standards will be imperative to ensuring that UK businesses have a strong understanding of what they need to do when it comes to sustainability reporting. The new Standards will mean that investors can make better decisions, companies report information more consistently, and capital markets allocate funding to more sustainable economic activity that can thrive in the future.
“It is heartening to see our work in the UK Sustainability Disclosure Technical Advisory Committee come to fruition. I’m looking forward to seeing how businesses take this forward, and the impact the standards will have."
Professor Rowbottom’s work falls within the Centre for Responsible Business, where he is an Associate. Based at Birmingham Business School, the Centre carries out ground-breaking, interdisciplinary research and education. Its work covers a broad range of topics, from carbon accounting and reporting to responsible marketing and consumption. The Centre engages with partners to identify and overcome barriers that stop businesses from creating positive change for all.
The University of Birmingham addresses urgent sustainability and climate challenges - leading a wide range of interdisciplinary research which includes collaboration across academia, industry, government, and local and global communities. The University is also a signatory to the Concordat for the Environmental Sustainability of Research and Innovation Practice, developed by the Wellcome Trust.
Read the full UK Sustainability Reporting Standards on the Government’s website.
For more information, please contact Ellie Hail, Communications Officer, University of Birmingham on e.hail@bham.ac.uk or alternatively, contact the Press Office out of hours on +44 (0)7789 921165.
Professor of Accounting and Corporate Reporting
Nick's research focuses on how extensions and innovations in the corporate reporting model are shaped, constructed and implemented.
