Black Sun recently brought together reporting, investor relations and governance professionals for Streamlining Reporting: Less Content, More Clarity a morning exploring how companies can make their annual reports more focused, relevant and useful for stakeholders.
The discussion began by examining why annual reports have grown increasingly lengthy over time. Duplication of messaging, defensive reporting driven by the fear of leaving questions unanswered, and the gradual accumulation of content year after year have all contributed. In many organisations, reporting is also fragmented across teams, with different contributors telling parts of the same story. And with uncertainty over where information belongs, the annual report can become the default home for content that might be better communicated elsewhere.
Yet there are encouraging signs of progress. According to Black Sun’s 2026 Complete 100 research 60 FTSE 100 companies have reduced the length of their strategic reports, achieving an average reduction of around 17%. This demonstrates that it is possible to streamline reporting without losing sight of what matters. However, there remains significant scope for companies to go further, challenging established approaches and taking a more considered view of what to include, where to communicate it and how best to serve their audiences.
This discussion provided a timely backdrop for a Q&A with Debbie Crawshawe from the Department of Business, Innovation, Science and Trade, exploring the UK Government’s consultation on Modernising Corporate Reporting.
The consultation shares a clear connection with the themes explored during the morning: how to simplify reporting, reduce unnecessary regulatory burdens and create a framework that enables companies to focus on information that is genuinely valuable to their business and stakeholders.
The consultation represents a once-in-a-generation opportunity to rethink the UK's reporting framework. The last major review of this scale was the Company Law Review, and the Government is now seeking views on virtually every aspect of the reporting regime to create a system that is simpler, more effective and fit for a digital age.
The Government’s consultation represents a significant opportunity to reconsider the UK’s corporate reporting requirements. Building on the discussion about why reports have become longer and more complex, it invites views on how the framework could become simpler, more effective and better suited to a digital age.
The Government is now seeking views on virtually every aspect of the reporting regime, with the ambition of reducing complexity and giving companies greater scope to communicate what matters most.
One of the central themes is the move away from a compliance-led approach towards reporting that prioritises financial materiality, clarity and effective communication. A more principles-based framework could give companies greater flexibility to determine which information is most relevant to their business, alongside greater responsibility for exercising judgement.
The objective is not to reduce transparency or remove important information. Rather, it is to ensure reporting requirements support disclosures that are meaningful, proportionate and useful for companies and for the people who rely on their reporting.
A key theme was the opportunity to apply a materiality mindset more consistently across corporate reporting. While existing Companies Act obligations remain in place, companies can already begin assessing which disclosures are genuinely material to understanding long-term value creation and which may add limited value for stakeholders.
It became evident in the roundtable discussions that many organisations are already taking steps to streamline reports through reducing duplication, simplifying language, improving navigation and reconsidering where information is housed within the wider reporting ecosystem.
The session highlighted the importance of viewing reporting as an interconnected ecosystem rather than a single annual publication.
The discussion explored how companies might better distribute content across multiple channels, while maintaining consistency and accessibility. This includes considering:
Streamlining does not necessarily mean removing information. In many cases, it may mean relocating, repackaging or presenting information in a more effective way, ensuring disclosures remain available while becoming easier for stakeholders to navigate and consume.
A particularly timely area of discussion was the impact of AI on how corporate information is consumed.
As investors, stakeholders and members of the public increasingly use AI-enabled search tools to find company information, organisations need to think carefully about how their content is published and structured online.
Key considerations included:
It is now essential that AI visibility forms part of wider reporting and communications strategies.
The consultation covers a wide range of topics, many of which generated lively discussion during the session. These include:
The morning provided attendees with several clear messages:
The morning highlighted a shared ambition to create reporting that is more effective, more accessible and more useful for those who rely on it, while giving companies greater flexibility to communicate what matters most.
With the consultation open until 30 November 2026, attendees were encouraged to engage actively in the process. Engagement will help inform policymakers and contribute to shaping the future direction of corporate reporting in the UK.
If you would like guidance on streamlining, or would like to discuss how you can be involved in our response to the modernisation of corporate reporting consultation, please get in touch with Bob Crosbie Dawson bcrosbie-dawson@blacksun-global.com
About Black Sun
Black Sun Global is a stakeholder advisory and engagement agency that's been driving transformation and positive change for ambitious brands for more than 20 years. With deep expertise in disclosure and reporting, ESG, sustainability, and digital engagement, we reshape how organisations connect with customers, investors, employees, and the wider world.
We are trusted partners to some of the most influential global organisations, sparking innovation and sustainable performance through our strategic insights, partnerships, and proprietary technologies.
As founders of the Positive Change Group, we are on a mission to create a new kind of stakeholder relations partner. Our world-class specialists work closely with executive leadership teams to protect reputations, inspire trust, and promote responsible business practices - building resilience and long-term value in a rapidly changing world.
For more information, please visit: www.blacksun-global.com
Explore our thinking and learn from global thought leaders through
our blogs, podcasts, webinars, and events.