Summary of UKEB Private Session 23 June 2022

PRESENT:

I. Administrative Matters

Welcome and apologies for absence

1.1 Due to the Chair' indisposition, the Board agreed to elect an Alternate Chair to chair the private session. Kathryn Cearns was unanimously elected as the Chair for the meeting by the Board.

1.2 No apologies were noted. Mike Ashley had to step out of the meeting at 4:00pm. Phil Aspin stepped out of the meeting between 3:10pm-3:25pm.

Declaration of interests

1.3 No members declared conflicts of interest in relation to any of the matters discussed in the meeting.

Minutes of the last meeting

1.4 The Board approved the minutes of the meeting held on 19 May 2022 for publication.

Action Log

1.5 The Board noted the log of actions arising from previous meetings.

Transparency Register for Web Publication

1.6 The Board approved the Transparency Register for publication, subject to the inclusion of an additional declaration received.

Gifts & Hospitality Register

1.7 A nil return was noted.

2. Introduction to the ISSB

2.1 The Board welcomed Mardi McBrien, Managing Director at the IFRS Foundation, who delivered a presentation on the summary of International Sustainability Standards Board (ISSB) activities to date.

3. IFRS 6: Exploration and Evaluation of Mineral Resources – Education Session

3.1 The Board noted that this item would be deferred to a later Board meeting.

4. Technical Director's Report

4.1 The Board approved the UKEB's work plan for publication on the website. The Board received a number of other updates from the Technical Director related to its work plan.

5. Operational Update

5.1 The Board received an update on UKEB operational matters.

6. Advisory Groups Updates

6.1 The Board received a progress update on the set up of the standing Advisory Groups.

7. Any other business

7.1 No further business was discussed.

7.2 The meeting ended at 4:15pm.