Build trust that protects and powers - with insightful, transparent reporting

PwC Building Trust Awards

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About us

Our mission for these awards is simple: celebrate the organisations building trust in society. The Building Trust Awards cover all parts of the economy and the issues that matter - recognising those leading in sustainable and insightful reporting.

Shortlisted companies and award winners stand out from their peers and demonstrate best practice across several areas. They put purpose and strategic vision at the heart of reporting, acknowledging the impact and value these create. They produce a narrative that reflects local and global issues. They use tools and technology with purpose. And they go beyond simply complying with regulations, to drive open communications.

Each award uses specific criteria to assess an organisation's commitment to building trust through open, fair and insightful reporting and communications. Experts from PwC assess all organisations reviewed and generate a shortlist.

Winners are selected from the shortlist by the specially convened independent judging panel, made up of leaders with interest, knowledge and experience in fostering organisational trust, transparency and societal contribution.  

Award categories and criteria 2026

Sector awards

Impact in Social Enterprise

(in association with the School for Social Entrepreneurs)

This award celebrates UK-based social enterprises that excel in impact reporting. We recognise those who demonstrate outstanding social and environmental contributions, showcasing their achievements through both qualitative and quantitative evidence.

Applications are open to all UK-based social enterprises. To enter the awards, applicants must state how they demonstrate a positive social and/or environmental impact, as well as submitting qualitative and quantitative evidence to support their application.

Entry to the 2026 Award closed at 30 June 2026.

Three shortlisted applicants will be invited to celebrate at our Building Trust Awards dinner in London in November 2026.

Find out more

Reporting in Charities

This award recognises high quality and innovative reporting by Charities. The principles of high quality reporting should result in better – not necessarily more – information, and tell the reader a compelling story about what the Charity does, why its activities are important and its impact.

Registered Charities in the Charity Finance 'Charity 100 Index' published in April 2026 are automatically reviewed. There is no need to self-nominate.

We reviewed the latest publicly available trustees' annual report and accounts, and associated year end reporting documents, up to the reporting period ended 31 March 2026.

Reporting in the Public Sector

(in association with the National Audit Office)

The Public Sector award focused on all public sector entities, many of which are consolidated into the Whole of Government Accounts ("WGA"), up to the reporting period ended 31 March 2026, which were audited and published by the Summer Parliament recess date of 16 July 2026. These entities are at the heart of public affairs and the provision of public services, and effective reporting of the use of taxpayers' monies is fundamental to our democracy and our ability to hold bodies to account for what they do. We look for annual reports and accounts that engage with key stakeholders by telling their story in a clear and accessible way, outline how they have achieved their objectives and the challenges they faced, and how they have used public money.

Underpinning our assessment of excellence in reporting in the Public Sector is the concept of innovation – entities who lead the way with a fresh approach to meeting the varied needs of their key stakeholders. Our award continues to give credit to those making real inroads in adopting these concepts and in driving forward fresh thinking and innovation. Transparent and insightful reporting is not necessarily about more information being included but about decluttering existing structures, taking a new and more effective approach to traditional disclosures.

Specific areas we focus on include:

  • A clear and balanced explanation of the impact (both positive and negative) of trends and factors shaping the entity's current and future operating environment.
  • A description of the long-term strategic direction of the entity, supported by short-term priorities, actions and resources needed to keep it on track, with clear use of specific targets and resulting impact on society.
  • An insight into the entity's business model and the key resources and relationships managed by the entity in order to achieve its strategic objectives.
  • A clear, honest and balanced analysis of the profile and dynamics of the principal risks the entity faces, including how these are managed and mitigated.
  • Clear and accessible disclosures of key financial measures that drive underlying performance.
  • Governance reporting that focuses on substance over form – balancing compliance with insight into the culture and values of the entity and how these drive its governance and "tone from the top".

Reporting in the FTSE 350

We reviewed those companies with year ends from 1 April 2024 to 31 March 2025 that were constituents of the FTSE 350 at 28 March 2025. Our review focuses on the richness of content within the annual report, with a particular focus on the strategic report, the sustainability report, and governance report. We also take into consideration key information explicitly linked from the annual report, for example an extended TCFD document or separate sustainability report. There is no need to self-nominate.

It's clear that investors, regulators and wider society want more, and better, information about how companies are balancing the needs of stakeholders as they tackle inequality and supply chain disruption and address the growing urgency of climate change. Against a backdrop of increasing regulation, the challenge for companies is to focus on reporting what is material to their business and relevant to their strategy rather than such issues at large and to do so in a way that engages the reader.

This award celebrates those companies that report well on these areas and present a clear, coherent and integrated strategic narrative across their channels of communication. Our review process looks for companies that use strategy as the backbone for the narrative; acknowledge their wider impact, risks and opportunities; explain the role of good governance; and show how their short-term actions and longer-term priorities create value for their key stakeholders and promote the resilience of their business model.

Thematic awards

Sustainability Reporting in the FTSE 350

The FTSE 350 and Public Interest Entities as at 31 March 2026 were reviewed.

The period under review covered reports with year ends from 1 April 2025 to 31 March 2026, and we reviewed Annual Reports, as well as corporate ESG or sustainability reports (or micro-sites), corporate responsibility websites as well any supplementary reports such as those covering climate-related financial disclosures.

This year’s review continued to focus on both a broad assessment of ESG reporting, as well as a more focused analysis on climate risk related reporting. Furthermore, this year's award has also integrated key elements of the Social Reporting award from last year. The award aims to assess the depth and relevance of the reporting offered throughout the publicly available information provided to stakeholders. In particular we will focus on how well companies demonstrate the connection between their financial performance with a clear environmental impact assessment (including the transition to a low carbon society) as well as delivering societal contribution and impact, that this is recognised in their purpose and delivered in a sustainable manner.

The award will continue to consider reporting alignment with TCFD as well as how standards and reporting frameworks created by or in development with the ISSB, the EU and others such as the TNFD are being incorporated into current and/or future reporting.

We continue to apply and consider how AI and technology are changing the reporting agenda and how both companies and PwC embrace this.

Tax Reporting in the FTSE 350 – UK-Focused Companies

UK-Focused Companies and Multinationals

The FTSE 350 as at 31 March 2026 were automatically reviewed, assessing voluntary tax disclosures in annual reports, published tax strategies, sustainability or corporate-responsibility reports, and standalone tax reports.

[Insert refreshed regulatory commentary covering CSRD/ESRS, Pillar Two, public country-by-country reporting (pCbCR) developments – to be supplied by Andy Wiggins.]

The awards recognise clear explanations in the following areas:

  • Tax strategy: an explanation of the company's approach to tax, providing a greater level of detail than the UK legislative requirements;
  • Tax governance and risk management: details of governance over a company's tax affairs and evidence of governance in practice. This includes whether there is a focus on the tax implications associated with the risks of climate change on the business;
  • Tax numbers and performance: an explanation of key tax numbers which are of interest to investors, including details as to why the tax paid may not be at the expected statutory rate and any uncertainties in tax positions;
  • Total Tax Contribution and the wider impact of tax: a link between tax and broader sustainability reporting, highlighting tax as part of a company's contribution to the society where it operates.

We look for companies that have developed their voluntary tax disclosures over the last year, responding to stakeholder interest and taking an innovative approach to tax reporting.

Tax Reporting in the FTSE 350 – Multinationals

The FTSE 350 as at 31 March 2026 were automatically reviewed, assessing voluntary tax disclosures in annual reports, published tax strategies, sustainability or corporate-responsibility reports, and standalone tax reports — with a particular focus on multinational groups.

[Insert refreshed regulatory commentary covering CSRD/ESRS, Pillar Two, public country-by-country reporting (pCbCR) developments – to be supplied by Andy Wiggins.]

The awards recognise clear explanations in the following areas:

  • Tax strategy: an explanation of the company's approach to tax, providing a greater level of detail than the UK legislative requirements;
  • Tax governance and risk management: details of governance over a company's tax affairs and evidence of governance in practice. This includes whether there is a focus on the tax implications associated with the risks of climate change on the business;
  • Tax numbers and performance: an explanation of key tax numbers which are of interest to investors, including details as to why the tax paid may not be at the expected statutory rate and any uncertainties in tax positions;
  • Total Tax Contribution and the wider impact of tax: a link between tax and broader sustainability reporting, highlighting tax as part of a company's contribution to the society where it operates.

We look for companies that have developed their voluntary tax disclosures over the last year, responding to stakeholder interest and taking an innovative approach to tax reporting.

Remuneration Reporting in the FTSE 350

Companies in the FTSE 350 as at September 2024 were automatically reviewed. There is no need to self-nominate.

Reporting was reviewed for financial years ending in the period 1 April 2024 to 31 March 2025. For this award, we reviewed the directors' remuneration report and other parts of the annual report or linked website content as relevant.

The award assesses the extent to which companies explain and justify the remuneration of executive directors in the context of the experience of the company's stakeholders, including the company's employees, shareholders, customers and suppliers.

Underpinning the award will be a focus on fairness and good governance: we'll look for transparent disclosures which demonstrate how the remuneration of the executive directors is appropriate. Our criteria will also focus on how well companies explain the alignment of executive director remuneration with the company's corporate strategy, including ESG priorities, and performance.

Award winners 2026

Sector awards

Impact in Social Enterprise (in association with the School for Social Entrepreneurs)

Winner Highly commended
Migrateful Breathe Arts Health Research C.I.C.
Tutors United

Social Enterprises — businesses that trade for a social or environmental purpose — make up a large, dynamic and growing sector of the UK economy, with around 131,000 companies currently operating in the UK, collectively employing 2.3 million people. PwC’s support for the sector includes a longstanding collaboration with the School for Social Entrepreneurs, co-supporter of this award. The judges felt that this year’s nominees were of an exceptionally high standard, with a strong sense of purpose shining through in all three reports. A panellist remarked: “It’s a great shortlist this year, maybe the best yet.” Breathe Arts Health Research’s reporting was praised for the outstanding quality of research and evidence underpinning its disclosures. Meanwhile, Tutors United presented its financial information with a high degree of professionalism. Ultimately, Migrateful clinched the award with a compelling, highly readable report that explains clearly how its business model raises money from the public through ticket sales — tapping into a revenue stream that’s all the more important at a time of funding pressures and dwindling local authority grants.

Impact in Social Enterprise (in association with the School for Social Entrepreneurs) award winners

“Migrateful’s report tackled some difficult topics well, such as the change in public attitudes towards immigration.”

Judge's comment

Reporting in Charities

Winner Highly commended
WWF-UK

National Trust
The Royal Parks

With the charity sector facing significant challenges around funding, and upcoming reporting changes with the new Charities Statement of Recommended Practice (SORP) for accounting periods from January 2026, innovation in charity reporting has been more limited over the past year. Nevertheless, the judges felt that the three shortlisted nominees had all excelled, especially in the way they use their organisational strategies to structure their disclosures. As one panellist put it: “We have three great reports by very worthy organisations”. The National Trust was praised for its strong section on key performance indicators (KPIs), and for being upfront about which targets had been missed and why. The judges were also impressed by The Royal Parks’ highly accessible year-at-a-glance section, and its clarity and accountability around how it spends the public money it receives. However, the WWF-UK report blew the judges away. Judges singled out the way it connected governance to reputational risks to areas like grants and safeguarding. They were also pleased to see WWF-UK discuss declining funds from members and corporates, and explain its plans to halt this trend.

Reporting in Charities award winners

“The WWF-UK report was very engaging. It had memorable case studies, such as using satellite data to monitor krill populations from space and track illegal mines. It showed them using digital technology to build strategic capabilities, not just improve operational efficiency.”

Judge's comment

Reporting in the Public Sector (in association with the National Audit Office)

Winner Highly commended
Home Office
HM Revenue & Customs
HM Treasury

This award, which is presented in association with the National Audit Office, saw significant changes from previous years. In particular, the early parliamentary recess this year meant that fewer public sector bodies published their reports within the deadline for the award. However, several major central government departments did succeed in publishing their reports earlier than usual and ahead of the deadline, with three of these organisations making up this year’s shortlist. The result was a set of reports very different from previous years, when the nominees had mostly been smaller, single-purpose public bodies whose reporting was by nature more straightforward. With this in mind, the judges recognised that this year’s shortlisted reports were longer and more complex but nevertheless felt they all excelled in different ways. Areas of strength included HM Treasury’s well-explained accounts section, and HMRC’s enjoyable exploration of how it is using AI to improve services — a topic the judges would have liked to see included in other organisations’ reports. But the Home Office report won the vote, largely due to its clear linkage and line-of-sight from activities and inputs to outcomes.

Reporting in the Public Sector (in association with the National Audit Office) award winners

“The Home Office report didn’t shy away from big topics. It also had very strong risk reporting, including lots of detail on movements in risk.”

Judge's comment

Reporting in the FTSE 350

Winner Highly commended
SSE plc AJ Bell plc
Currys plc

FTSE 350 reporting as a whole has seen little change in the past year. However, a significant shift is in prospect for financial years from January 2026 onwards, with companies being required to make a formal annual declaration on the effectiveness of their material internal controls. Regarding this year’s shortlisted reports, the judges felt that the overall standard was consistently high, with each of the nominees standing out in different areas. AJ Bell earned praise from the panellists for the brevity and conciseness of its reporting, with one judge remarking that its report “is only 100 pages long, but packs in a lot”. Members of the panel also commended the Currys report for being highly readable and accessible to non-specialists like consumers and prospective employees, and were especially impressed by its interesting and enjoyable discussion on the circular economy. But ultimately, SSE emerged as the winner due to what the judges described as its “honesty”, and the way the company wove in its £33 billion investment plan to upgrade the UK’s electricity infrastructure as a consistent theme running throughout the report.

Reporting in the FTSE 350 award winner

“I liked that SSE’s report was so candid – for example, it didn’t shy away from the fact that investment in renewables is behind target.”

Judge's comment

“SSE’s report kept coming back to strategy, network and renewables. It was clear that their purpose means a lot to them.”

Judge's comment

Thematic awards

Sustainability Reporting in the FTSE 350 

Winner Highly commended
Centrica plc Rio Tinto plc
Standard Chartered plc

While this year saw no major changes in the UK sustainability reporting environment, companies continued to work behind the scenes to align with the EU’s Corporate Sustainability Reporting Directive (CSRD) in readiness for its enactment in 2027. Looking across the market generally, the panellists felt the maturity of sustainability reporting is improving, but that more work is needed to bring social reporting up to the level of the other areas. Against this backdrop, the companies shortlisted for the award varied widely in size and sector, and produced reports that each displayed different strengths. One panellist commented that they were “so different that it’s hard to say which is best”. The panellists praised the technical competence of Rio Tinto’s reporting and Standard Chartered’s disclosures on sustainable finance, with one observing that the company “did a good job of condensing the web of sustainability regulations to explain what it was doing and why”. However, Centrica clinched the award with a “highly accessible” sustainability report that showed strong linkage between investments, customers, climate and social impact, and clearly demonstrated progress against targets.

“It’s clear from Centrica’s reporting that sustainability is embedded into its business strategy – it’s integrated into the purpose, priorities and investment decisions.”

Judge's comment

Tax Reporting in the FTSE 350 – UK-Focused Companies

Award announcement coming soon.

Tax Reporting in the FTSE 350 – Multinationals

Award announcement coming soon.

Remuneration reporting in the FTSE 350

Winner Highly commended
Severn Trent plc Workspace Group plc
WPP plc

Over the past couple of years there have been a number of examples of companies proposing notable changes to their remuneration arrangements, particularly in the context of the broader debate on the competitiveness of the UK's capital markets, either through increasing quantum or by introducing non-standard remuneration structures. This has continued this year. In general, shareholders have expressed a willingness to consider such proposals provided companies put forward clear and transparent disclosure that presents a cogent rationale for the changes.

There remains continued focus and scrutiny on executive director remuneration and the fairness of decisions in the context of arrangements for the wider workforce and companies’ broader stakeholders. Clear and transparent reporting in Directors’ Remuneration Reports remained critical for companies to effectively convey the rationale for the Remuneration Committees’ decisions, particularly in the context of the approach taken, and experience of, wider stakeholders.

Against this evolving backdrop, the judges felt that all three shortlisted companies explained their approach to executive remuneration clearly and transparently, while excelling in different areas. They assessed Workspace Group’s Chair’s letter, evolution of the At A Glance and Loss of Office disclosures as particularly strong, while also praising WPP for its attractive layout and visuals, and detailed comparisons between executive pay in the US and UK and peer group analysis. Severn Trent emerged as the winner because of its all-round clarity and readability, particularly in areas like pay fairness, the context to their Remuneration Policy review and linking remuneration to business outcomes.

“I liked Severn Trent’s honesty and transparency around the Ofwat Performance Related Pay Prohibition Rule. It felt like you were in the room witnessing the debate.”

Judge's comment

The judging panel

The Building Trust Awards are judged by an expert panel, chaired by Monica Chadha. Read more about the judges below.

Building Trust Awards Chair, Non-Executive Director, Advisor, Coach

Chair of UK Shareholders Association (UKSA), CRUF UK participant and previously at Invesco

Business owner, NED, UKSA Board member and CRUF UK participant

Chief Executive, Social Mobility Foundation

Chair of CRUF UK, Member of CMAC, Member of EFRAG

Chief Executive of FutureDotNow

Crown Representative for the Voluntary and Social Enterprise Sector

Chief Policy and Communications Officer

Head of Stewardship, Evenlode

Executive Director, National Audit Office

NED at OFGEM, Invesco Asia Trust, The Golden Charter Trust and board member of University College Cork

NED and former Deputy Governor of the Bank of England

Deputy Director of Finance, HM Treasury

Senior Portfolio Manager of Global Equities, RBC Global Asset Management

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Alan McGill

Alan McGill

Partner, PwC United Kingdom

Tel: +44 (0)7711 915663

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