Annual Reports for Public Sector in 2022-2023: Guidance on Sustainability Reporting
In the realm of public sector sustainability reporting, the UK government's Financial Reporting Manual (FReM) provides valuable guidance to ensure transparency and accountability in the annual reports and accounts of central government bodies. While the specifics of the minimum requirements, best practices, and underlying principles for sustainability reporting in the FReM are not exhaustively outlined in the provided search results, we can glean some insightful guidance from the available information.
For the 2025-26 reporting period, the Sustainability Reporting Guidance sets out the minimum requirements for central government bodies. This includes the reporting of material sustainability information, a key principle in sustainability reporting. Additionally, the Task Force on Climate-related Financial Disclosures (TCFD) Application Guidance is referenced alongside the FReM, indicating that the TCFD principles are considered important for climate-related disclosures.
Best practices in sustainability reporting likely emphasise the consolidation and alignment of principles and concepts into clear, unified guidance, as seen in the Sustainability Reporting Guidance 2025-26. Stakeholder engagement, though not explicitly mentioned in the search results, is generally a best practice in sustainability reporting, ensuring that reports meet the needs of various stakeholders.
Underlying principles of sustainability reporting, as suggested by the available information, include materiality, transparency, and accountability. These are core to sustainability reporting frameworks globally. Furthermore, the UK's approach to sustainability reporting is influenced by international standards such as the International Sustainability Standards Board (ISSB) and may incorporate elements from frameworks like the Global Reporting Initiative (GRI).
For more specific details, consulting the UK Government's Financial Reporting Manual directly would be necessary. However, the guidance provided for central government annual reports and accounts suggests a focus on materiality, transparency, and alignment with broader international standards. This approach underscores the UK government's commitment to sustainable practices and responsible financial disclosures, setting a strong example for other public sector bodies.
In the context of sustainability reporting, the Sustainability Reporting Guidance 2025-26 consolidates and aligns principles and concepts from various domains, such as science and environmental-science, into clear, unified guidance. As stakeholder engagement is a widely accepted best practice in business and sustainability reporting, it is crucial for ensuring reports cater to various stakeholders' needs.
