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Business News

CBI to oppose new green rules

The CBI has challenged a coalition proposal to introduce onerous social and environmental reporting standards on quoted firms.

Ed Davey, a Business minister, who has vowed that the coalition will be "the greenest government ever", has resurrected plans for Operating and Financial Reviews (OFRs), which could include rules on reporting carbon emissions.

The last Labour government came close to implementing OFR, only for then-prime minister, Gordon Brown, to opt for softer reporting standards through the Business Review.

The OFR has been included in a consultation entitled The future of narrative reporting.

In its consultation submission, the CBI, which announces its new director general tomorrow, said: "There are no obvious gaps or weaknesses where further statutory intervention is required or justified."