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United Kingdom

UK SRS: published, not yet required

The UK’s version of the ISSB standards has existed since 25 February 2026 and applies to nobody by force of law. The first requirement is likely to come from the FCA, for listed companies, from 2027.[1],[4]

What applies today →UK SRS in depth ↗
Checked 6 October 2026UK SRS S1UK SRS S2FCA CP26/5
The standards

ISSB, with a UK hand on the dials

UK SRS S1 and S2 are issued by the Secretary of State for Business and Trade. They follow IFRS S1 and S2 closely, but the ISSB has not prepared or endorsed them.[1]

The government removed the effective-date clauses on purpose, so that the timing of any requirement, and of the transition reliefs, can be set by Companies Act regulations or FCA rules.[3]

UK SRS S2 is confirmed as a national reporting framework for section 414CB(6) of the Companies Act 2006, so companies already making climate disclosures can use it to meet them.[1],[3]

515Listed companies the FCA expects to apply its proposed rules in fullFCA CP26/5, Annex 2 ¶43[4]
89Further listed companies expected to make a statement onlyFCA CP26/5, Annex 2 ¶43[4]
209Responses to the government's exposure-draft consultationDBT response ¶1.6[3]
£500mTurnover above which large UK companies already make climate disclosuresSI 2022/31[5]
Your position

What applies to you, and when

Three routes, depending on who you are. The live requirements today are TCFD-based. UK SRS arrives through the FCA first.[4],[5]

The FCA consulted on the exposure drafts, then the final Standards changed the reliefs. The FCA said its rules would follow the final UK SRS.[4]

Which describes your company?

Today

In force

Climate disclosures against TCFD on a comply-or-explain basis under the listing rules (UKLR 6.6.6R(8)).

Today

In force

The eight Companies Act climate disclosures, if over 500 employees.

Autumn 2026

Expected

FCA policy statement expected, finalising rules on the final UK SRS.

Periods from 1 Jan 2027

Proposed

Report against UK SRS under the FCA's proposal, with reliefs for Scope 3 and non-climate topics in the early years. First reports would land in 2028.

Against the baseline

Where UK SRS departs from ISSB

The departures are few and mostly about timing. One commonly cited difference, dropping the GICS industry requirement, is not a UK change: the ISSB made it in December 2025.[3],[6]

TopicIFRS S1 and S2UK SRS S1 and S2
Effective datePeriods beginning on or after 1 January 2024None. Removed deliberately; timing is for legislation or FCA rules
Climate-first reliefFirst annual reporting period onlyNo time limit in the Standard; regulators will set it
Scope 3 reliefFirst annual reporting period onlyNo time limit in the Standard; regulators will set it
GHG Protocol method reliefFirst annual reporting periodFirst annual reporting period (kept)
Report after the accounts in year onePermittedRemoved
Statement of complianceFull compliance statementA company using climate-first relief cannot claim compliance with UK SRS S1
Timeline

UK dates, in order

The exposure drafts were consulted on from 25 June to 17 September 2025. The final Standards followed on 25 February 2026.[3]

For the full UK picture, including SECR, ESOS and the FCA’s anti-greenwashing rule, see our sister reference, uksrs.org.uk.[7]

  1. 30 Jan 2026UK
    FCA consults on UK SRS-based rules for listed companies (CP26/5)
  2. 25 Feb 2026UK
    UK SRS S1 and S2 published for voluntary use
  3. Autumn 2026UKNot yet final
    FCA aims to publish its policy statement on listed-company rules
  4. 1 Jan 2027UKNot yet final
    FCA's proposed rules would apply to periods starting on or after this date
Questions

UK SRS, answered

Is UK SRS mandatory?

No. UK SRS S1 and S2 were published on 25 February 2026 and GOV.UK says they are “available for voluntary use, by any entity that chooses to do so”.[2] No UK law or rule requires them yet. The FCA has proposed rules for listed companies.[4]

When will listed companies have to report under UK SRS?

Under the FCA’s proposal in CP26/5, for accounting periods beginning on or after 1 January 2027, with first reports in 2028. The FCA aims to publish its final rules in autumn 2026.[4]

How is UK SRS different from IFRS S1 and S2?

It is closely based on them, but not endorsed by the ISSB. The differences that matter: no effective date; climate-first and Scope 3 reliefs with no fixed time limit; no relief to report after the accounts in year one; and a company using climate-first relief cannot claim compliance with UK SRS S1.[1],[3]

What climate reporting is mandatory in the UK today?

Large companies, those over 500 employees and £500m turnover, and traded companies over 500 employees make eight climate-related financial disclosures in the strategic report, for periods from 6 April 2022.[5] Listed companies also report against TCFD on a comply-or-explain basis under the listing rules.[4]

Sources

Where this comes from

Primary sources unless labelled otherwise.

  1. [1]UK Sustainability Reporting Standards: UK SRS S1 and UK SRS S2Department for Business and Trade, GOV.UK · 25 February 2026
  2. [2]UK Sustainability Reporting Standards (guidance)GOV.UK · last updated 25 February 2026
  3. [3]Exposure drafts of UK Sustainability Reporting Standards: consultation responseDepartment for Business and Trade · 25 February 2026
  4. [4]CP26/5: Aligning listed issuers' sustainability disclosures with international standardsFinancial Conduct Authority · 30 January 2026
  5. [5]The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 (SI 2022/31)legislation.gov.uk
  6. [6]ISSB issues targeted amendments to IFRS S2IFRS Foundation · 11 December 2025
  7. [7]UK SRS: the UK Sustainability Reporting Standards referenceuksrs.org.uk · sister reference, disclosed as such