[michaelt]

It's a think-about-the-children issue rather than a religious issue. They think this will play well with (e.g.) middle class parents. This isn't a particularly hot-button political issue at this time which is why it's voluntary industry self-regulation.

Often in the UK the first pass at regulation will be inviting the main companies in an industry to form a voluntary self-regulation body and come up with their own code of conduct. It's generally in the industry's interest to do this as legislation is certain to be heavier-handed and less flexible; and it's in the government's interests as it needs less time, procedure and public debate. On the other hand, there are fewer opportunities for politicians to grandstand on the issue, and companies don't have to join the voluntary self-regulation body.

Even if industry self-regulation fails, it can take several years before it's clear it's failed, so this is also a way to kick things into the long grass on issues like the under-representation of women on the boards of large corporations.