UK: Friends of the Earth may seek judicial review of Govt. decision not to introduce new reporting requirements for listed companies on social, environmental issues
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Author: Friends of the Earth UK
Friends of the Earth today sent a "letter before claim" to the Chancellor stating its belief that his decision to abolish the Operating Financial Review was "unlawful"...
Author: Mark Milner, Guardian [UK]
Friends of the Earth said yesterday that it may seek a judicial review of the [UK] chancellor's decision...to scrap rules forcing listed firms to report in detail on social and environmental issues. It called Mr Brown's decision...unlawful because it was "procedurally unfair, irrational/perverse, a breach of legitimate expectations and based on material errors of fact"...a [UK treasury] spokesman said: "...It is pressure from shareholders, the public, NGOs and government, rather than mandatory reporting in itself, which drives companies to improve their social and environmental performance."