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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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Article
8 December 2005

Brown Faces Legal Challenge After Scrapping OFR [Operating Financial Review] [UK]

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"...

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Article
8 December 2005

Ecologists seek U-turn on move to cut red tape [UK]

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."

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