Four parallel tracks of activity from the UK Technical Advisory Committee's first recommendation to the proposed in-force date. Reading by row shows what each regulator did and when; reading by column shows the cluster of activity in early 2026.
Last verified 12 May 2026 · Footnotes link to primary sources
202420262027202820292025
DBT
Standards publisher · private companies
12 May 2026
25 Jun 2025Consultation opens[1]
17 Sep 2025Closes · 209 responses[2]
25 Feb 2026UK SRS S1, S2 published[3]
FCA
Listed-company regulator · CP26/5
12 May 2026
30 Jan 2026CP26/5 published[4]
20 Mar 2026Consultation closes[5]
Autumn 2026Policy Statement[6]
FRC
Assurance · TAC and PIC secretariat
12 May 2026
Dec 2024TAC initial advice[7]
12 Nov 2025ISSA (UK) 5000 issued[8]
26 Jan 2026TAC final letter to DBT[9]
15 Dec 2026ISSA (UK) 5000 effective[8]
Effect
Proposed mandatory application
12 May 2026
1 Jan 2027UK SRS S2 in force[10]
1 Jan 2028Scope 3 relief ends[10]
1 Jan 2029S1 deferral ends[10]
DBT events
FCA events
FRC events
Mandatory effect (proposed)
Future / proposed (hollow marker)
Reading guide. The horizontal "now" line shows the date the page was last verified. Hollow markers and italic labels indicate future events that are proposed but not yet legally binding — they depend on the FCA's autumn 2026 Policy Statement or on separate DBT regulation. The clustering of events around February 2026 is genuine: in a five-week window the FCA opened CP26/5 (30 Jan), the TAC sent its final letter to DBT (26 Jan), and DBT published the final standards (25 Feb).
Primary sources
[1]DBT, "Consultation on Exposure Drafts of UK Sustainability Reporting Standards" — published 25 June 2025, closed 17 September 2025. gov.uk consultation page
[2]DBT Government Response, paragraph 1.6 — 209 responses (170 online survey, 39 by email; 199 organisations, 10 individuals). Government Response · web version
[3]DBT publication of final UK SRS S1 and S2 — 25 February 2026. Standards available for voluntary use immediately; no effective date clauses. DBT publication page
[4]FCA Consultation Paper CP26/5 — "Aligning listed issuers' sustainability disclosures with international standards", published 30 January 2026. FCA CP26/5 landing page
[5]FCA CP26/5 consultation closed — 20 March 2026. Substantive submissions from Norges Bank Investment Management, the Quoted Companies Alliance, the Investment Association and Big Four assurance firms. Norges Bank IM response
[6]FCA Policy Statement — expected autumn 2026, per CP26/5 timetable. Final rules subject to Policy Statement; could adopt, modify, or delay the proposals.
[7]UK Sustainability Disclosure Technical Advisory Committee (TAC) — initial endorsement recommendations to DBT, December 2024. Hosted by the FRC. FRC · TAC page
[8]FRC, ISSA (UK) 5000 — sustainability assurance standard published 12 November 2025, effective for engagements covering periods beginning on or after 15 December 2026. FRC · ISSA (UK) 5000
[9]TAC supplementary written recommendations to the Secretary of State for Business and Trade — 26 January 2026. Addressed financed emissions and incorporation of ISSB December 2025 amendments to IFRS S2. FRC · TAC endorsement project
[10]FCA CP26/5, Chapter 8 (Implementation and transitional arrangements) — proposed in-force date 1 January 2027 for UK SRS S2 (UKLR 6, 16, 22); one-year optional Scope 3 deferral; two-year optional S1 deferral. All dates subject to Policy Statement. CP26/5 full text (PDF)
Autumn 2026
Expected FCA final policy statement on mandatory UK SRS S2 reporting rules following CP26/5 consultation
This page tracks regulatory developments from GOV.UK, FCA.org.uk, FRC.org.uk, and other official sources relating to the UK Sustainability Reporting Standards.
Mid-2026: FRC interim register of sustainability assurance practitioners Autumn 2026: FCA final policy statement on mandatory UK SRS S2 reporting rules 15 December 2026: ISSA (UK) 5000 assurance standard effective 1 January 2027: UK SRS S2 proposed mandatory for listed companies in scope 2026: Expected government consultation on extending UK SRS to private companies via Companies Act amendments
Recent Regulatory Developments
February 2026: UK SRS S1 and S2 Final Standards Published
The Department for Business and Trade published the final UK SRS S1 and UK SRS S2 standards on 25 February 2026.
The standards are available for voluntary adoption immediately, with mandatory application for listed companies proposed from 1 January 2027.
January 2026: FCA CP26/5 Consultation Launch
The FCA launched consultation CP26/5 on sustainability disclosures, proposing mandatory UK SRS S2 for approximately 500 listed companies.
Consultation responses closed in April 2026, with final policy statement expected Autumn 2026.
November 2025: FRC Issues ISSA (UK) 5000
The FRC issued International Standard on Sustainability Assurance (UK) 5000, effective for assurance engagements on sustainability information reported for periods beginning on or after 15 December 2026.
The standard provides voluntary assurance framework for UK SRS disclosures.
Forthcoming Developments to Watch
Sustainability Reporting Standards · Where it stands
Where the FCA process currently stands
UK SRS S2 is not yet mandatory for any company. The Financial Conduct Authority's CP26/5 process moves through five sequential stages — three are complete, two remain. Until the Policy Statement is issued, mandatory dates are FCA proposals, not law.
Last verified 12 May 2026
✓
Consultation Paper published
30 Jan 2026Completed
The FCA published CP26/5: Aligning listed issuers' sustainability disclosures with international standards, proposing to replace the existing TCFD-aligned Listing Rules with rules requiring in-scope listed companies to apply UK SRS S2 from 1 January 2027 and UK SRS S1 on a comply-or-explain basis.
The seven-week consultation drew responses from listed companies, institutional investors, accounting and assurance bodies, and trade associations. Material substantive submissions arrived from large asset managers and pension funds — several with positions notably stronger than the FCA proposals.
The FCA is reviewing consultation responses and preparing its final Policy Statement. Three outcomes are possible: adopt the proposals as drafted; modify them in light of consultation feedback (most likely on Scope 3 treatment, S1 sunset date, secondary-listing scope, or assurance requirements); or delay the timeline. The FCA has stated the Policy Statement is expected in autumn 2026 — typically September through November.
If the Policy Statement adopts the proposed timeline, the new UKLR rules would apply to accounting periods beginning on or after 1 January 2027 for in-scope listed companies (UKLR 6, 16, and 22 in full; UKLR 14 and 15 with a flexible disclose-home-jurisdiction-requirements approach). The existing TCFD-aligned rules would be deleted.
The 1 January 2027 date is when the rules would come into force — applied to accounting periods beginning on or after that date. The first mandatory UK SRS S2 reports would appear in the annual reports published around six months after each in-scope company's year-end. A December year-end company would publish in spring 2028; an April year-end would publish in mid-2028.
Sequence inferred from FCA CP26/5 implementation provisions in Chapter 8
All future-dated stages are subject to the FCA's final Policy Statement and to any further regulatory developments. Mandatory dates are FCA proposals, not law, until the Policy Statement is issued and the rules made.
FCA Final Policy Statement
Expected Autumn 2026, the FCA's final policy statement will confirm or modify the mandatory UK SRS S2 requirements for listed companies.
This will establish the definitive scope, timeline, and transitional reliefs for mandatory reporting.
FRC Interim Assurance Register
The FRC is developing an interim register of sustainability assurance practitioners, expected operational by mid-2026.
Registration will be voluntary and profession-agnostic, covering both audit and non-audit professionals providing sustainability assurance.
Private Companies Consultation
The Government intends to consult during 2026 on extending UK SRS requirements to large private companies through Companies Act amendments.
Expected to follow similar thresholds to SECR (250+ employees or £36m+ turnover).
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 12 May 2026 · Click any workstream for detail
Foundation phase
Data infrastructure
Governance & controls
Assurance & output
Critical path workstream
Workstreams
M1
M2
M3
M4
M5
M6
M7
M8
M9
M10
M11
M12
M13
M14
M15
M16
M17
M18
Materiality assessment
Gap analysis & strategy
Governance framework
Training & capability
Scope 1 & 2 data
Scope 3 supplier engagement
Scope 3 data validation
Scenario methodology
Quantitative scenarios
Connectivity mapping
Transition planning
Dry run & rehearsal
Assurance preparation
Report preparation
Click any bar above for workstream detail, typical effort, and dependencies.
Critical path
18 months
From kickoff to first UK SRS S2 report. Driven by Scope 3 supplier engagement and quantitative scenario modelling — neither compressible.
Scope 3 dominance
14 months
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.
Earliest sensible start
3 months
Foundation phase before data work meaningfully begins. Materiality assessment and gap analysis are pre-requisites — running data collection without these creates wasted effort.
For analysis of the FCA CP26/5 consultation, see KPMG's CP26/5 analysis and BDO's overview of sustainability reporting requirements.
For common questions, visit the UK SRS FAQ.