Scope
Voluntary now; FCA proposal: UKLR listed categories 6/14/15/16/22 from FY2027; private-company extension under consideration only
UK · standard
UK Sustainability Reporting Standards (UK SRS S1 & S2)
UK-endorsed IFRS S1/S2 (DBT, published 25 Feb 2026) with six UK amendments
Penalties
FCA enforcement once mandatory; none while voluntary
Last verified
2026-08-22
In plain language
What this law does
The UK's ISSB-endorsed standards with six UK-specific amendments. FCA proposals make S2 climate reporting mandatory for listed companies (Scope 1/2 mandatory; Scope 3 one-year elective relief then comply-or-explain), with Dictionary termTransition planA time-bound strategy linking an organisation's current business model to a climate-aligned future through targets, actions, governance, resources, dependencies and transparent progress.Read the full definition and Dictionary termAssuranceAn independent engagement designed to increase intended users' confidence in defined sustainability information by evaluating it against suitable criteria and reporting a conclusion.Read the full definition statements on comply-or-explain basis.
Core obligations
S2 climate disclosures: governance, strategy, risk management, metrics & targets; Scope 1/2 mandatory; Scope 3 comply-or-explain after relief; Dictionary termTransition planA time-bound strategy linking an organisation's current business model to a climate-aligned future through targets, actions, governance, resources, dependencies and transparent progress.Read the full definition disclosure statement
Claims
Explore claims affected by this source
Search or filter the reviewed connections, then open one claim for its full market-by-market assessment.
- “Net zero by 2050” (entity target)Dictionary termNet zeroA state in which anthropogenic greenhouse-gas emissions are balanced by anthropogenic removals over a specified period and within a defined boundary.Read the full definition
Why this claim is connected
Board-approved plan, interim targets, funding; TPT-aligned disclosure