UK SRS 2027 — what changes, and when
UK SRS is voluntary today, and nothing in it is law.
The FCA proposes mandatory UK SRS S2 climate reporting for 515 listed companies from January 2027, subject to a Policy Statement expected in autumn 2026.
What changes on 1 January 2027
UK SRS by the numbers
Nine canonical figures that anchor the UK Sustainability Reporting Standards regime — every figure pinned to a primary source. The framing on this page sits behind every other reference page on the site.
Last verified 27 July 2026 · Updates as regulators publish new figures
UK SRS S1 (General Requirements) and UK SRS S2 (Climate-related Disclosures) released for voluntary use immediately, alongside the Government Response to the consultation.
DBT · UK SRS S1 and S2 publication
FCA analysis of the Official List as of January 2025: around 600 listed companies would be affected, of which 515 — across UKLR 6 (Commercial), 16 (Non-equity and non-voting equity) and 22 (Transition) — would be required to comply with the UK SRS proposals. Around 90 of the 515 are non-UK incorporated. UKLR 14 (Secondary) and 15 (Depositary Receipts) get a transparency and signposting statement only — no UK SRS reporting and no transition plan disclosure.
FCA · CP26/5 Annex 2 · paras 43, 45, 87
170 via online survey, 39 by direct email submission. 199 from organisations, 10 from individuals. 68% supported the four originally-proposed amendments.
Government Response · paras 1.6–1.7
Governance, Strategy, Risk Management, and Metrics and Targets. The structural foundation carried directly from TCFD (2017, disbanded 2023) — but disclosure requirements within each pillar are substantially enhanced.
UK SRS S2 · Paragraphs 5–37 · TCFD Recommendations
From purchased goods (Cat 1) to investments (Cat 15). Scope 3 is excluded from the proposed 1 January 2027 start; a company may elect a one-year transitional relief, and from periods beginning 1 January 2028 Scope 3 falls to comply-or-explain. The draft instrument sets no sunset on that comply-or-explain limb — Scope 3 does not become fully mandatory.
UK SRS S2 · Paragraphs B33–B58 · GHG Protocol Scope 3
Forty-plus jurisdictions covering approximately 60% of global market capitalisation, 60% of global GDP, and 40%+ of global greenhouse gas emissions. Latest additions: Ethiopia and Peru (Feb 2026).
IFRS Foundation · ISSB Update · April 2026
KPMG, PwC, Deloitte, and EY implementation studies converge on this range for a mid-cap listed company to build the data infrastructure, materiality assessment, quantitative scenario analysis, and disclosure drafting needed.
KPMG · CP26/5 implementation analysis
Four originally proposed plus additional final-version changes: paragraph B59A added, effective dates removed, ISSB December 2025 amendments incorporated.
Government Response · Chapters 1–2
The FRC's UK adaptation of the IAASB international sustainability assurance standard, issued 12 November 2025 for voluntary use — it governs how an assurance engagement is performed, not whether one must be obtained. FCA CP26/5 does not mandate assurance; it proposes a statement of whether assurance has been obtained.
FRC · ISSA (UK) 5000
Implementation Roadmap
How long UK SRS S2 implementation actually takes
Companies waiting for the FCA Policy Statement to begin preparation are already late. Practitioner consensus puts end-to-end implementation at twelve to eighteen months — driven by Scope 3 data, which can't be compressed.
Last verified 27 July 2026 · Click any workstream for detail
From kickoff to first UK SRS S2 report. Driven by Scope 3 supplier engagement and quantitative scenario modelling — neither compressible.
Of Scope 3 data work — from supplier engagement onset through validation. Of the 15 GHG Protocol categories, Category 1 and Category 11 typically account for >70% of total Scope 3 emissions.
Foundation phase before data work meaningfully begins. Materiality assessment and gap analysis are pre-requisites — running data collection without these creates wasted effort.
Implementation Timeline
UK SRS S1 & S2 Published
Department for Business and Trade publishes final UK Sustainability Reporting Standards
FCA Policy Statement Expected
The FCA aims to publish its Policy Statement on CP26/5 in autumn 2026. It has not been published as of July 2026, so every date below remains an FCA proposal rather than law
UK SRS S2 Proposed to Apply
Proposed start of UK SRS S2 climate disclosures — excluding Scope 3 — for accounting periods beginning on or after 1 January 2027. 515 listed companies would be in full scope (UKLR 6, 16 and 22); around 600 listed companies are affected in total
Scope 3 Relief Expires
The elective one-year transitional relief for Scope 3 has expired and Scope 3 moves to comply-or-explain: disclose under UK SRS S2, or identify the paragraphs not disclosed, the reasons, and the steps being taken. Nothing becomes fully mandatory
UK SRS S1 Relief Expires
The elective two-year relief for UK SRS S1 non-climate matters has expired and S1 falls to comply-or-explain — a limb drafted without a sunset, not a staging post to full mandatory reporting
Who is in scope for UK SRS in 2027
Who Must Comply?
Comprehensive scope guide for UK SRS requirements. Understand if your company falls within the proposed mandatory scope.
Critical DatesImplementation Timeline
Key deadlines and milestones from now until full implementation. Plan your preparation with our detailed timeline.
PreparationCompliance Roadmap
Step-by-step implementation guide with practical checklists. From materiality assessment to first report.
UK SRS S2 Guide
Complete guide to climate-related disclosures. Scope 1, 2, and 3 emissions, scenario analysis, transition plans.
General StandardUK SRS S1 Overview
General sustainability matters beyond climate. Biodiversity, human capital, supply chain impacts.
VerificationAssurance Requirements
Limited and reasonable assurance requirements. Working with auditors and assurance providers.
Is UK SRS mandatory in 2027?
Not yet, and not automatically. UK SRS is voluntary for all entities today and no UK entity is currently required by law to report against UK SRS S1 or S2.
The 2027 date comes from FCA CP26/5, which proposes that its rules come into force on 1 January 2027 — but that depends on an FCA Policy Statement which the FCA aims to publish in autumn 2026 and which had not been published as at 1 August 2026.
When does UK SRS S2 apply?
Under FCA CP26/5, UK SRS S2 climate disclosures excluding Scope 3 are proposed to apply for accounting periods beginning on or after 1 January 2027, which puts the first reports in 2028 for December 2027 year-ends.
Does UK SRS require Scope 3 emissions in 2027?
No. The only hard obligation proposed from 2027 is UK SRS S2 excluding Scope 3. A company may elect a one-year transitional relief, and from periods beginning 1 January 2028 Scope 3 is reported on a comply-or-explain basis, which the draft instrument leaves without a sunset.
How many companies are in scope of UK SRS in 2027?
The FCA estimates around 600 listed companies would be affected by its proposals, of which 515 — those in the commercial companies, non-equity and non-voting equity shares, and transition categories — would be required to comply in full.
For comprehensive guidance on UK SRS, visit our primary reference site.
The UK sustainability reporting standards themselves sit on that primary reference; for the editorial publication covering sustainability reporting standards, including SECR, ESOS and the wider framework, see our sister title.
Key dates live on the definitive UK SRS timeline; for a plain-English introduction to the standards themselves, start with UK SRS S1 and S2.
For guidance on UK SRS who is in scope, see the primary reference's scope assessment.
Financial-services firms can find sector-specific guidance on financed emissions and PCAF reporting.