25 September 2023

ESG added to board remit

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please reread the article before attempting the questions again.

  1. When did the Financial Reporting Council launch a consultation on its proposals to revise the Corporate Governance Code?

  2. Under the new code, where should a description of the company's approach to ESG appear?

  3. Which 'scope' covers additional emissions that a company creates in its wider value chain?

  4. To which accounting periods will the revised code apply?

  5. Which of the code's provisions will be expanded to allow the board to assess how the company generates and preserves long-term value?

  6. Which of the following statements is correct? Statement 1, The new code will require the audit committee to monitor the integrity of narrative reporting. Statement 2, The new code will require a consideration of ESG objectives when examining remuneration outcomes.

  7. Which organisation is concerned that the revised code will be too prescriptive?

  8. What do critics suggest may be the best mechanism for overseeing ESG matters?

  9. When did the FRC's consultation close?

  10. Under the revised code, whose role in the ESG framework is addressed for the first time?

1 unit