RegulationCorporate GovernanceMPs back radical actions, says FoE

MPs back radical actions, says FoE

Friends of the Earth rally MPs in support of stronger company reporting in wake of OFR

Friends of the Earth has claimed it has the support of 220 MPs for more
radical changes to company reporting after the government announced it will
replace the operating and financial review with the lighter-touch business
review.

The news indicates an immediate challenge for Alistair Darling who became
trade secretary during Tony Blair’s cabinet reshuffle last week.

Following a consultation forced on the government by legal action from the
environmentalists, it introduced small changes that will require companies to
include information on its impact on the environment, employee issues and social
and community issues.

But Friends of the Earth was adamant that there were still some key issues
missing from the changes. Corporate accountability campaigner Craig Bennett
said: ‘After years of glossy corporate social responsibility reports that failed
to tell the true story, we felt the case had clearly been made for such reports
to be independently audited.’

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