Has the UK's environmental focus prevented business growth and investment?

The audit watchdog is planning to remove references to the “environment” and “society” from a code setting standards for City investors in a bid to simplify reporting processes and get behind the government’s push for growth, City AM can reveal. In a consultation document today, the Financial Reporting Council (FRC) will reveal plans to make a number of “significant updates” to its stewardship code in a bid to support “economic growth and investment” and enhance transparency in investment decisions. The code, which has some 273 signatories representing approximately £45 trillion in assets, sets standards and behaviours for investors. While it is designed to prevent unethical decision-making by fund managers, it has been blamed by some for adding to a mounting regulatory burden in the UK and causing friction between listed firms and their backers. Get more on the story 👇 https://www.cityam.com/audit-watchdog-ditches-environment-focus-in-growth-push/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Charlie Conchie, Joe Lee, Larissa Howie