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Corporate Reporting Insights 2024 Surveying FTSE Annual Reports
Recent years certainly confirmed the old adage 'the only constant is change'.  A rapidly evolving and challenging social, economic and political landscape means that to remain resilient businesses need to pivot quickly. Society is looking for business to lead and play its role in driving sustainable development and responding to existential challenges, including climate change, loss of biodiversity and social inclusion and equity. Investors and other stakeholders, including customers, employees and policy makers are looking for companies to be transparent about how they are responding to these priorities and challenges, and governments and regulators are issuing new mandatory corporate reporting requirements. Our Corporate Reporting Insights focus on timely, short and topical observations designed to help you navigate new disclosure requirements, emerging practices, and growing expectations for greater transparency and accountability Explore our reports to discover these trends in corporate reporting.
Explore our 2024 insights
Click here to read Corporate Reporting Insights 2023
Diversity & Inclusion Are companies achieving the targets in the new Listing Rule?
In 2022, the FCA introduced a new Listing Rule for premium and standard listed companies to provide disclosures on board and executive management diversity, reflecting the drive for transparency around social issues. The disclosures were mandatory for December reporters for the first time in 2023. Our survey looks at how the first 30 FTSE 350 December 2023 reporters have met the new Listing Rule requirements, and whether their annual reports reflect the transparency and progress that society and regulators are looking for around board diversity, executive management diversity and how diversity and inclusion are integrated within the business. Read the full report
Key takeaways
  • 67% of companies had met or exceeded the target of 40% of the board being women; 90% had at least one minority ethnic director on the board.
  • 70% of companies had a woman in one of the four senior board positions – unchanged from 2022.
  • Only 73% of companies met the Listing Rule requirement to explain how the diversity data had been gathered.
  • 77% of boards discuss the importance for their business of achieving a diverse board – but 87% explained why workforce diversity and inclusion was important to the business.
  • Actions to take:
  • Assess whether the annual report explains in a clear and consistent way why diversity and inclusion at workforce, executive management, and board level is important to the business.
  • Evaluate the board’s existing approach for building diversity and inclusion into succession planning and board performance reviews and consider how to report transparently in this area.
  • Ensure that all elements of the FCA Listing Rule are included and clearly identifiable:
  • a statement setting out that each of the targets in the Rule have been achieved or a plan to achieve them
  • both mandated tables on sex or gender identity and ethnicity
  • an explanation of how data has been gathered for the board and executive management
  • Get in touch
    Veronica Poole Global IFRS Leader, NSE Head of Accounting and Corporate Reporting
    Email Veronica +44 (0)20 7007 0884 Read biography
    Corinne Sheriff Director
    Email Corinne +44 (0)20 7007 8368 Read biography
    Alison Dundjerovic Director
    Email Alison +44 20 7007 9788 Read biography
    Tracy Gordon Director
    Email Tracy +44 (0)20 7007 3812 Read biography