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UK Chair to Oversee ISSB Implementation

Sally Duckworth has been appointed by the UK government to lead a new advisory committee that will provide guidance on the country’s implementation of International Sustainability Standards Board (ISSB) disclosures. The UK Sustainability Disclosure Technical Advisory Committee (TAC) will meet monthly to provide rigorous technical analysis of the ISSB’s corporate reporting standards, assessing whether the UK’s endorsement of these standards would be beneficial to the country. The Financial Reporting Council will support the TAC by serving as the secretariat. Duckworth is currently Non-executive Chair of data storage company StorMagic, Audit Chair of JPMorgan’s Japanese Investment Trust, and Non-executive Director at Molten Ventures. She also serves as Audit Chair for the Mobeus Income & Growth 2 venture capital trust, but will step down from that role this summer. A qualified accountant, Duckworth brings a wealth of business experience in early- and growth-stage companies and considerable investment management experience, having held various C-suite roles. “I feel privileged to be able to join forces with a committee that brings together a wealth of expertise and diverse perspectives, essential for evaluating the extensive reporting requirements under the new IFRS S1 and IFRS S2 standards,” she said. “These standards, which cover governance, strategy, risk management, and metrics and targets, are pivotal for advancing sustainability and transparency in financial practices.” An additional 14 members have also been appointed to the committee and will work alongside Duckworth to discuss UK sustainability reporting standards and agree on recommendations. Yesterday, the government also published guidance on the development of UK Sustainability Reporting Standards, providing a framework for the implementation of IFRS Sustainability Disclosure Standards in the country. “Although the issuance of the ISSB’s first standards is a welcome milestone towards the provision of globally comparable sustainability-related information, it is only the first step to ensuring the delivery of decision-useful information on sustainability matters,” the statement read. “National governments, regulators, and standard-setters have a vital role in considering how to best support the application of [the standards] in a local context, whilst supporting the ISSB’s objective to deliver a common language for companies to report on sustainability-related risks and opportunities across jurisdictions.”

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