The UK SRS regulatory timeline, by actor
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
The Origin of UK SRS
The story of UK SRS begins at COP26 in Glasgow in November 2021, where the IFRS Foundation announced the creation of the International Sustainability Standards Board (ISSB).
The ISSB was established to develop a global baseline of sustainability disclosure standards focused on the information needs of investors and capital markets.
Its creation responded to a fragmented landscape of voluntary frameworks — TCFD, SASB, GRI, CDP —
that made cross-company comparison difficult and imposed overlapping reporting burdens.
Key ISSB Publication
These represented the global baseline that individual jurisdictions could adopt, adapt, or build upon according to their own legislative frameworks.
In October 2023, the Task Force on Climate-related Financial Disclosures (TCFD) was formally disbanded.
Its monitoring responsibilities were transferred to the ISSB, marking the end of TCFD as a standalone framework and the beginning of the transition to mandatory, standards-based sustainability reporting globally.
For a detailed comparison of the old and new frameworks, see our guide on TCFD vs UK SRS.
From Global Standards to UK Endorsement
Over 40 jurisdictions committed to aligning with the ISSB standards following their publication.
The UK moved early.
The UK endorsement process was led by the Department for Business and Trade, working through an independent Technical Advisory Committee (TAC) whose secretariat is hosted by the Financial Reporting Council (FRC), which assessed whether IFRS S1 and S2 were suitable for the UK market without modification.
The TAC recommended endorsement of IFRS S1 and S2 in December 2024, and issued supplementary recommendations in January 2026 to take account of the ISSB's December 2025 amendments to IFRS S2.
The UK government conducted a formal consultation on the exposure drafts between June and September 2025, which received 209 responses.
For the full detail of how ISSB standards were adapted for the UK, see UK SRS vs IFRS S1 and S2.
UK SRS Publication
On 25 February 2026, the Department for Business and Trade published UK SRS S1 and S2. Both standards are available for voluntary use immediately, and no UK entity is yet required by law to apply them.
The FCA has proposed, in CP26/5, that mandatory application begin from financial years starting on or after 1 January 2027 — a proposal that is not settled until the FCA publishes its Policy Statement, expected in autumn 2026. See the full UK SRS mandatory timeline for all key dates.
How UK SRS Differs From the ISSB Baseline
UK SRS is not a wholesale rewrite of the ISSB standards.
The UK government consulted on six proposed amendments in June 2025, but two did not survive to publication (one was withdrawn, one was replaced) and further provisions were added afterwards. The authoritative list of final differences is Annex A of the government's consultation response, which carries no headline count. The most significant:
- No fixed effective date — the effective date clauses are removed from the standards; mandatory application is set separately by the FCA or under the Companies Act
- Delayed reporting relief removed — sustainability disclosures must be published at the same time as the financial statements, not up to nine months later
- Climate-first relief made untimed — IFRS S1 allows one year of climate-only reporting; UK SRS S1 retains the relief but removes the fixed period from the Standard, leaving its duration to be set by UK regulation or the FCA (the FCA has proposed, but not yet confirmed, availability up to periods beginning before 1 January 2029)
- SASB reference softened — entities "may" rather than "shall" refer to and consider the SASB industry-based metrics
- Not a UK amendment: industry classification — the UK had proposed dropping the requirement to use GICS for financed emissions, but withdrew that proposal once the ISSB made the same change to IFRS S2 itself in December 2025; UK SRS S2 simply inherits the ISSB's own change
- Transitional reliefs tied to mandatory use — the reliefs attach to the first period of mandatory rather than voluntary reporting, with their duration set by the relevant UK regulator or legislation
What UK SRS Contains
UK SRS S1 establishes the general requirements for sustainability-related financial disclosures.
It defines the materiality framework, the "Connected information" requirement, and the disclosure requirements for all material sustainability topics.
Under the FCA's proposals S1 would apply on a comply-or-explain basis from financial years beginning on or after 1 January 2027. The Standard's own climate-first relief for non-climate matters carries no fixed period, but the FCA has proposed — not yet confirmed — that it would no longer be available for periods beginning on or after 1 January 2029.
UK SRS S2 covers climate-related disclosures specifically.
It requires reporting on governance, strategy, risk management, and metrics and targets related to climate risks and opportunities.
S2 is proposed mandatory from January 2027.
Both standards use the four-pillar disclosure framework inherited from TCFD — Governance, Strategy, Risk Management, and Metrics and Targets — but expand the requirements significantly within each pillar.
For a detailed comparison, see TCFD vs UK SRS.
Why UK SRS Matters
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
If the FCA's proposals are confirmed, UK SRS would represent a shift from voluntary, framework-based sustainability reporting to mandatory, standards-based disclosure for in-scope listed issuers — reporting today remains entirely voluntary.
For the 515 listed companies the FCA has identified as falling in full scope — out of around 600 affected in total — this would move sustainability reporting from best practice to regulatory obligation.
Companies should start with a gap analysis to understand how their current reporting compares to the new requirements.
For investors, it means comparable, reliable sustainability data across the UK listed market.
For the broader economy, it means the UK aligns with the global ISSB baseline.
As highlighted by PwC's analysis of the UK SRS endorsement, the standards bring the UK into line with over 40 jurisdictions adopting the ISSB framework.
For further context, see BDO's overview of UK sustainability reporting requirements.