Strategic Report meaning

This Checklist outlines which companies and limited liability partnerships (LLPs) fall within the main UK and EU compulsory environmental reporting regimes. It offers a high-level overview and points to the sources for the applicable reporting rules. For fuller coverage of the binding reporting obligations, see Practice Notes: CSR, ESG and human rights reporting and initiatives and EU mandatory corporate sustainability reporting. For an overview of the voluntary disclosures many companies and LLPs follow, see Practice Notes: TCFD recommendations and other ESG reporting frameworks, standards and benchmarks [Archived] and Investor group guidance on environmental, social and governance (ESG) issues. UK requirements Strategic report to contain description of principal risks and uncertainties. Scope: All companies (other than micro and small companies). Traded LLPs and banking LLPs. Source: Companies Act 2006 (CA 2006), CA 2006, s 414C(2)(b). Applied to traded LLPs and banking LLPs by Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, SI 2008/1911, Reg 12A. ...

STOP PRESS: A major overhaul of the UK listing framework took effect on 29 July 2024, featuring the abolition of the premium and standard segments and the introduction of a single listing category for equity shares in commercial companies. The commercial companies category is strongly disclosure-led and sits beside other categories, including shell companies, secondary listing and closed ended investment fund categories. A new UK Listing Rules sourcebook commenced to deliver these reforms and the former Listing Rules sourcebook was withdrawn. For more information, see Practice Note: Reform of the UK listing regime—fundamentals. This fundamentals note describes the listing framework as it existed before 29 July 2024. The UK corporate reporting landscape has been influenced by Brexit. For further details see Brexit—accounts and reports. There have been certain amendments to the requirements of the Companies Act, the DTR and the Listing Rules for accounting periods starting on or after the close of the transitional period, although the impact is largely confined to definitions (eg the meaning of a regulated...

ARCHIVED : This archived Checklist outlines the principal reporting obligations for quoted companies with accounting periods commencing before 1 January 2019, under the Companies Act 2006, the Listing Rules, the Disclosure Guidance and Transparency Rules, and the 2016 edition of the UK Corporate Governance Code... It references rules, provisions and definitions that may have been repealed or altered, including legislation and regulation that applied before the UK left the European Union... For a maintained Checklist summarising the reporting requirements for quoted companies with accounting periods beginning on or after 1 January 2019, see Checklist: Annual report and accounts (quoted companies)—checklist—accounting periods on or after 1 January 2019... For periods beginning before 1 January 2019, this Checklist draws on the following sources: Companies Act 2006 (CA 2006) and the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, SI 2008/410 (Large and Medium-sized Companies Regulations) Listing Rules (LRs) Disclosure Guidance and Transparency Rules (DTRs) UK Corporate Governance Code (UKCG...

In this issue: Air emissions and climate change Contamination and pollution Energy efficiency and buildings Energy for environmental lawyers Environmental information Environmental taxes, reliefs and incentives ESG and sustainability Hazardous substances and chemicals Nature, biodiversity and habitat conservation Waste Water, flooding and drainage Daily and weekly news alerts New and updated content Air emissions and climate change Greenhouse Gas Removals (GGR)-UK government publishes Business Model documentation On 27 August 2025, the Department for Energy Security and Net Zero (DESNZ) released a suite of papers on its proposed Greenhouse Gas Removals (GGR) Business Model and accompanying policy. The Lexis+ Energy team, working with Navraj Singh Ghaleigh, Senior Lecturer in Climate Law at the University of Edinburgh Law School, set out the context for the GGR Business Model; its relationship with the Power BECCS Business Model; the technologies the GGR framework intends to encompass; its legal footing and principal features; and how...

In this issue Key developments and materials Electricity and gas market regulation and licensing Networks and network connections Renewable energy Conventional power, waste to energy, biomass, and CHP projects Nuclear energy International energy LexTalk®Energy: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Key developments and materials National Grid has unveiled a strategic tie-up between its Distribution System Operator (DSO) and Electron to boost the scale and value of flexibility for system operators and flexibility service providers (FSPs) by enabling market interoperability. Electron will link its flexibility market platform, ElectronConnect, with the DSO’s Market Gateway, giving FSPs wider choice in how they access and engage with flexibility on the electricity distribution network. The collaboration also aims to reduce entry hurdles and drive broader market participation. See: LNB News 02/05/2024 7. Electricity and gas market regulation and licensing Ofgem has opened a consultation...

In this issue: Building safety Building regulations Alternative dispute resolution Arbitration Environmental issues Projects Construction industry news Daily and weekly news alerts Construction trackers Building safety CLC announces restructure of ICSG The CLC has set out a reorganisation of the Industry Competence Steering Group (ICSG) to enhance competence and safety standards across the built environment sector. Under this strategic change, the ICSG will become a formal working group within the Building Safety Regulator’s Industry Competence Committee. The refreshed framework features sector-led groups, key topic groups and working groups, informed by contributions from more than 60 professional and trade bodies and 1,500 individuals, reinforcing the drive for improved standards. See: LNB News 09/12/2024 61. Housing (Cladding Remediation) (Scotland) Act 2024 (Commencement) Regulations 2024 SSI 2024/370 These regulations designate 6 January 2025 as the appointed day on which all provisions of the Housing (Cladding Remediation) (Scotland) Act 2024 not already commenced will come into...

Rules and guidance The principal rules on publishing and laying a company’s annual accounts and reports appear in Part 15 of the Companies Act 2006 (CA 2006). For these purposes, a company’s annual accounts and reports comprise: the annual accounts the directors' report the strategic report (unless the company is not obliged to prepare one) the directors' remuneration report, which may include a directors’ remuneration policy, and any separate corporate governance statement not included in the directors' report (for a quoted company) the auditor’s report on the accounts, the directors’ report, the strategic report, the auditable part of any directors’ remuneration report and any separate corporate governance statement (unless the company qualifies for audit exemption) Certain statutory requirements governing publication and laying differ according to whether the company is public or private, and whether it is quoted or unquoted. Quoted companies cover UK companies with shares listed in the UK or in another EEA state; AIM companies do...

This Practice Note examines the Bank of England (BoE) and the Prudential Regulation Authority (PRA)’s supervisory expectations for banks and insurers in managing climate‑related financial risks, as articulated in supervisory statement SS3/19 (updated November 2024), alongside the related policy statement PS11/19. Background and introduction On 15 April 2019, the PRA issued PS11/19: Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change, which summarised responses to consultation paper CP23/18 and included the final SS3/19 setting out the PRA’s expectations. The PRA observed that climate change, and society’s response to it, generate financial risks relevant to its objectives and, although such risks may fully emerge over longer horizons, they are already starting to be seen. SS3/19 set the expectation that firms take a strategic approach to climate‑related risk management, identifying present exposures and plausible future risks, and implementing suitable measures to mitigate them. A revised SS3/19, updated to reflect PS15/24—Review of Solvency II: Restatement of assimilated law, was published on 15 November 2024. The PRA’s...

Chapter 9 of the UK Listing Rules (UKLRs) Chapter 9 of the Financial Conduct Authority (FCA) UK Listing Rules (UKLRs) sets out continuing obligations for any company that has a listing of equity shares in the equity shares (commercial companies) category, which the company must comply with to retain its admission to the Official List (terms in bold are defined in the FCA Handbook Glossary). For further detail on companies with a listing of equity shares in the equity shares (commercial companies) category, refer to Practice Note: The UK listing regime for more information. Under UKLR 6.6 R, a company with a listing of equity shares in the equity shares (commercial companies) category must include specified financial disclosures within its annual financial report. The UKLR 6.6 R obligations for both UK and overseas issuers with a listing of equity shares in the equity shares (commercial companies) category are also considered below, together with an overview of the UKLRs relevant to annual financial reports of other listed bodies, and a...

Memorandum prepared by [ Name of Firm ] for the directors of [ insert company name ] (the Company) providing guidance on annual environmental reporting obligations and disclosures 1 Scope This memorandum sets out the principal environmental disclosures the Company must present in its annual report and accounts. It reviews and explains the Companies Act 2006 (CA 2006) obligation to provide climate-related disclosures in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), the need to state greenhouse gas (GHG) emissions, energy consumption and actions to improve energy efficiency under the Streamlined Energy and Carbon Reporting (SECR) regime, and other environmental legislation [ , as well as relevant principles and provisions within the QCA Corporate Governance Code (QCA Code) and the Wates Corporate Governance Principles for Large Private Companies (Wates Principles) ]. It also offers practical guidance for companies when assembling their environmental disclosures for reporting purposes. [ As an AIM company, the Company is subject to continuing disclosure obligations under the AIM...

1 Introduction Risk management sits at the heart of how we work, and [ insert organisation’s name ] is dedicated to embedding effective risk control across the business—every colleague has a part to play in making this happen. This policy explains: what risk is; our approach to managing risk; who holds responsibility for risk; our methods for spotting, reporting and assessing risk; our risk management policies and procedures; details of risk training; how we will monitor and refresh this. It also includes our: Risk scorecard (matrix)—see Appendix 1; and Internal risk report form—see Appendix 2. 2 What is risk? Risk is the chance of loss or another harmful or unwelcome result. It may involve financial loss, but it can also be less measurable, for example harm to reputation. We group identified...

Memorandum prepared by [ Name of Firm ] For the directors of [ insert company name ] (the Company) advising on annual environmental reporting 1 Scope This memorandum outlines the principal environmental disclosures the Company must include within its annual report and accounts. It addresses the UK Listing Rule and Companies Act 2006 ( CA 2006 ) obligations to present climate-related information consistent with the recommendations of the Task Force on Climate-related Financial Disclosures ( TCFD ). It also covers the duty to disclose greenhouse gas ( GHG ) emissions, energy consumption and measures to improve energy efficiency under the Streamlined Energy and Carbon Reporting ( SECR ) framework, together with other environmental legislation [ , and relevant principles and provisions from the UK Corporate Governance Code ( UKCG Code ) ] . In addition, it provides practical guidance to assist companies in compiling robust environmental disclosures. As a listed entity, the Company is further subject to continuing disclosure duties under the UK Listing Rules, the Disclosure Guidance...