Business Minister Kevin Hollinrake has today [Thursday 16 May] appointed Sally Duckworth as the Chair of the new UK Sustainability Disclosure Technical Advisory Committee (TAC).
The TAC will meet monthly to provide rigorous technical analysis of the International Sustainability Standards Board's (ISSB) corporate reporting standards and whether the UK's endorsement of these standards would be beneficial to the country. The Financial Reporting Council will support the TAC through providing the secretariat.
Sally Duckworth is currently Non-Executive Chair of data storage company, StorMagic Limited, Audit Chair of JPMorgan Japanese Investment Trust plc and a Non-Executive Director of Molten Ventures VCT plc. She is also Audit Chair for Mobeus Income & Growth 2 VCT plc but is stepping down from that role this summer. A qualified accountant, she brings with her a wealth of business experience in early-stage and growth stage companies as well as investment management experience and has held various C-suite roles.
Ministers have also appointed 14 members of the TAC who will work with Sally to discuss the sustainability reporting standards and agree on their recommendations. TAC members have been appointed in a personal capacity on the basis of their knowledge and experience and will act in the UK public good, independently of their organisations.
The 14 members are:
Scott Barlow
Scott is the Vice President of Sustainability & ESG Reporting at Barclays and has experience in financial and non-financial reporting across several industry sectors.
Jenny Carter
Jenny is the representative of the Financial Reporting Council (FRC) on the TAC.
Harriet Cullum
Harriet is head of global ESG insights at Diageo and has experience in ESG strategy and reporting in corporates and not-for-profits in Europe and Asia Pacific.
Dia Desai
Dia leads Sustainability Disclosures and Insights at HSBC, with experience in delivering strategic, data driven transformation across financial services.
Hilary Eastman
Hilary is a partner at KPMG and leads the UK ESG reporting practice. She previously led PwC's global investor engagement programme.
Madeleine Evans
Madeleine is Director of Impact at Generation Investment Management and has experience in sustainability investment and consulting.
David Harris
David leads sustainable finance strategic initiatives at the London Stock Exchange Group, with experience in sustainable investment and policymaking in the UK and internationally.
Peter Hogarth
Peter is PwC UK's Senior Accounting Technical Partner and leads PwC UK's Corporate Reporting Services team. He is also a member of the PwC network's global Sustainability Reporting Oversight Group.
Paul Lee
Paul is the representative of the UK Endorsement Board on the TAC.
Craig Mackenzie
Craig is an academic at Edinburgh University Business School and has experience in investment management and the development of sustainability disclosure standards.
Joseph Noss
Joseph is a senior advisor at Oliver Wyman and Chair of the International Standards Organisation (ISO) Sustainable Finance Committee. He has experience in sustainability regulation and international policy making in the UK and internationally.
Jeremy Osborn
Jeremy is Global Head of Sustainability for the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA). He has experience in sustainability consulting, policy making and integrated reporting.
Nick Rowbottom
Nick is a Professor of Accounting and Corporate Reporting at the University of Birmingham. He has experience in corporate reporting research and standards setting.
Supriya Sobti
Supriya is Head of Climate & Purpose at NatWest Group, where she leads on climate measurement and transition planning. She has banking sector experience in audit, finance, regulatory, reporting and risk areas.
Sally will take up her post as soon as possible subject to pre-appointment checks.
The government is also today publishing a new Framework and Terms of Reference for the Development of UK Sustainability Reporting Standards. This will set out the detail on the UK process for assessing and endorsing the ISSB standards. The new Technical Advisory Committee will report back at the end of this year to Ministers on their findings.
Business Minister Kevin Hollinrake said:
This committee will be influential in the design of the UK's long-term approach to sustainability-related reporting for businesses, and I look forward to receiving its first recommendations later this year.
Sally is bringing strong business leadership experience to her role as Chair and has extensive knowledge in a variety of sectors, from electric and hybrid vehicles to financial technology and data storage and security. This which will ensure the recommendations appropriately consider business needs and impacts.
Incoming Chair of the Technical Advisory Committee, Sally Duckworth, said:
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. These standards, which cover governance, strategy, risk management, and metrics and targets, are pivotal for advancing sustainability and transparency in financial practices.
As the UK contemplates its endorsement, our committee's unique combination of skills will be instrumental in ensuring that these standards not only enhance corporate reporting but also drive meaningful progress towards a more sustainable economy. Our collaborative efforts will set a robust foundation for making informed investment decisions that will ensure the UK leads the way in sustainable investment.
Executive Director of Regulatory Standards at the Financial Reporting Council, Mark Babington, said:
The Financial Reporting Council welcomes Sally Duckworth's appointment as Chair of the Sustainability Disclosure Technical Advisory Committee. We look forward to supporting her to enable the Committee's vital technical analysis of the ISSB standards and engagement with stakeholders.
Robust, globally aligned sustainability disclosures are essential, and the FRC is committed to working closely with Sally, the Committee, and government to develop high-quality international reporting requirements that serve the public interest in the UK.
