Sustainability reporting – evolution and retreat - a UK corporate governance perspective
Sustainability reporting – evolution and retreat - a UK corporate governance perspective
This article examines whether the past decade of corporate sustainability reporting has had an impact on UK corporate governance requirements, specifically on the UK Corporate Governance Code, through an embedding of sustainability responsibilities at board level. In fact, there is little reflection of these matters in the Code primarily, it would seem, because of business resistance based on overstated concerns about possible impacts on directors’ duties and liabilities and freedom to act. Conveniently for business, the political and economic tide has now turned from ‘green’ matters to ‘growth’ and ‘competitiveness’. The result is that the opportunity to enhance corporate governance has been missed and 2026 is likely to see a return to limited, financially material, reporting, concentrated on the largest companies and focused on investor needs. It will be up to investors to hold boards accountable on sustainability matters—if they choose to do so—which remains uncertain.
Hannigan, Brenda
d439c291-6794-4f9c-b27b-01386a13359e
Hannigan, Brenda
d439c291-6794-4f9c-b27b-01386a13359e
Hannigan, Brenda
(2025)
Sustainability reporting – evolution and retreat - a UK corporate governance perspective.
European Company and Financial Law Review.
(Submitted)
Abstract
This article examines whether the past decade of corporate sustainability reporting has had an impact on UK corporate governance requirements, specifically on the UK Corporate Governance Code, through an embedding of sustainability responsibilities at board level. In fact, there is little reflection of these matters in the Code primarily, it would seem, because of business resistance based on overstated concerns about possible impacts on directors’ duties and liabilities and freedom to act. Conveniently for business, the political and economic tide has now turned from ‘green’ matters to ‘growth’ and ‘competitiveness’. The result is that the opportunity to enhance corporate governance has been missed and 2026 is likely to see a return to limited, financially material, reporting, concentrated on the largest companies and focused on investor needs. It will be up to investors to hold boards accountable on sustainability matters—if they choose to do so—which remains uncertain.
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Hannigan Sustainability Reporting Evolution and Retreat ECFR December 2025
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Submitted date: 15 December 2025
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Local EPrints ID: 508744
URI: http://eprints.soton.ac.uk/id/eprint/508744
ISSN: 1613-2556
PURE UUID: b58a1cca-9344-4494-9995-f64588358b26
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Date deposited: 02 Feb 2026 18:02
Last modified: 03 Feb 2026 02:32
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