10th July 2003 - Trucost Briefing - OFR has important implications for Director's liability

The primary audience for the OFR should be company shareholders

Materiality should be determined with reference to possible impacts on shareholder value

The broader concerns of customers, suppliers, employees and pressure groups should be addressed because they represent risks to shareholder value.

The OFR is the responsibility of the board as a whole

Presently around 100 UK companies produce environmental reports. This regulation represents a challenge to those who do not, both in terms of understanding the implications of the OFR and in terms of establishing appropriate processes to comply with it

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