UK SRS in one paragraph
UK SRS — the UK Sustainability Reporting Standards — is the UK's adoption of the global sustainability disclosure baseline developed by the International Sustainability Standards Board (ISSB).1
The Department for Business and Trade (DBT) published SRS S1 (general sustainability) and SRS S2 (climate) on 25 February 2026.
The UK government proposed six amendments to the underlying IFRS S1 and IFRS S2 standards in its June 2025 consultation.
Two did not survive unchanged to the final Standards; Annex A of the government’s response is the authoritative difference table, and it carries no summary count.1
In other words, UK SRS are the UK sustainability disclosure standards — the UK's name for the ISSB-based disclosure regime.
For the wider UK SDR policy package this sits inside — investment product labels, transition plans, and assurance — see UK Sustainability Disclosure Requirements.
The FCA proposes making UK SRS S2 proposed mandatory reporting for listed companies in UKLR categories 6, 16 and 22 — 515 of the roughly 600 companies affected — from accounting periods beginning on or after 1 January 2027 under consultation paper CP26/5; UKLR 14 and 15 (89 companies) would instead make a signposting statement about the overseas standards they follow.2
For in-depth implementation guidance, see the dedicated UK SRS reference site.
Who published UK SRS, and when
The Department for Business and Trade (DBT) published UK SRS S1 and S2 on 25 February 2026 alongside the government response to its June 2025 consultation on the exposure drafts.1
209 consultation responses informed the final standards.1
The two standards — UK SRS S1 and UK SRS S2
UK SRS S1: General Requirements for Disclosure of Sustainability-related Financial Information.
The framework standard.1
Establishes materiality, four pillars architecture, connected-information requirements (UK SRS S1 ¶¶21–24), and disclosure architecture across all material sustainability topics.
UK SRS S2: Climate-related Disclosures.
Applies S1's framework specifically to climate risks and opportunities.1
Requires Scope 3 emissions disclosure, climate scenario analysis, and climate transition plans disclosure.
No UK SRS S3.
Only these two standards have been published. UK SRS S3
does not exist and no development timeline has been announced by DBT.1
The four-pillar TCFD structure
The latest market signals on UK SRS preparedness.
UK sustainability reporting standards framework
UK SRS inherits the TCFD architecture and extends it across all material sustainability topics through four disclosure pillars.
Both follow the TCFD-derived UK SRS pillars architecture (Governance, Strategy, Risk Management, Metrics and Targets).3
See S1 standard, S2 climate standard, and TCFD pillars for detailed coverage.
How UK SRS relates to IFRS S1 and S2 — the 2025 amendments
UK SRS S1 and S2 are the UK's national adoption of the global IFRS S1 and S2 standards developed by the ISSB.3
The UK government’s June 2025 consultation proposed six amendments to IFRS S1 and S2.
Two were dropped or replaced before the Standards were finalised — GICS classification (withdrawn; the ISSB removed it itself in December 2025) and the two-year climate-first cap (replaced by removing the time limit entirely) — and four further UK-specific paragraphs (¶73A, ¶73B, ¶B59A, ¶E5) were added after the consultation.
Annex A of the government’s response is the authoritative difference table, and it carries no summary count.1
| Difference | Description | Status in the final Standards (25 Feb 2026) |
|---|---|---|
| SASB references | Changed from "shall" to "may" (UK SRS S1 ¶¶55(a), 58(a)) | Adopted as proposed |
| Climate-first relief | The June 2025 proposal capped this relief at two years | Cap replaced — the final Standard removes the time limit entirely (¶E3) |
| Statement-of-compliance and UK-law-override provisions | New paragraphs ¶¶73A, 73B (S1) / ¶C6 (S2) | Added after the June 2025 consultation — sets out how compliance statements work for reporters using the reliefs, and lets future legislation or FCA rules re-time them |
| First-year delayed reporting | IFRS S1 ¶E4 permitted publishing sustainability disclosures after the financial statements in year one | Removed — "Not applicable" in UK SRS S1 |
| Financed-emissions disclosure duty | New ¶B59A | Added after the June 2025 consultation — requires an explanation when financed emissions cannot reliably be estimated for the same period as the financial statements (a duty, not a relief) |
| GICS classification requirement | The June 2025 consultation proposed removing this from UK SRS S2 | Withdrawn — the ISSB removed it itself in its own December 2025 amendments, before UK SRS S2 was issued; not a UK amendment and not in Annex A |
See UK SRS vs IFRS S1/S2 for full amendment details.
How UK SRS fits in the broader regulatory landscape
UK SRS sits alongside three other UK regimes that companies may also need to apply:1
- SECR (Streamlined Energy and Carbon Reporting) — mandatory since 2019
- ESOS (Energy Savings Opportunity Scheme) — four-yearly energy audits
- TCFD-aligned Listing Rules — currently in force, replaced by S2 from 2027
SECR (Streamlined Energy and Carbon Reporting)
Mandatory since 2019 for companies meeting the two-of-three test (£36m turnover, £18m balance sheet, 250 employees).1
Covers Scope 1, Scope 2, and a defined Scope 3 reporting subset.
ESOS (Energy Savings Opportunity Scheme)
Four-yearly mandatory energy audit; Phase 4 deadline 5 December 2027.1
Administered under SI 2014/1643 as amended by SI 2023/1182.
TCFD-aligned Listing Rules
Currently in force; will be replaced by S2 requirements for SRS compliance listed companies from 1 January 2027.2
Internationally, UK SRS is one of 37 jurisdictions adopting or moving to ISSB standards per the IFRS Foundation's September 2025 jurisdictional tracker.7
The EU operates a different regime — CSRD with ESRS standards — using double materiality (UK SRS uses single financial materiality consistent with all ISSB-based standards).
For the complete landscape overview, see broader sustainability reporting landscape and our comprehensive ESG reporting requirements UK guide.
Frequently Asked Questions
Who published UK SRS?
When does UK SRS become mandatory?
What is the difference between UK SRS S1 and UK SRS S2?
How many UK amendments are there to IFRS S1 and S2?
Does UK SRS use double materiality like CSRD?
Which companies must apply UK SRS?
Can companies adopt UK SRS voluntarily before the mandatory date?
What is FCA CP26/5?
How does UK SRS interact with SECR and ESOS?
Is assurance required for UK SRS disclosures?
What is a UK SRS transition plan?
Where can I find the UK SRS standards?
UK SRS S1 vs UK SRS S2
UK SRS comprises two distinct but interconnected standards.
S1 sets the foundational requirements; S2 specifies climate-specific requirements that build on S1's foundation.
| Standard | Scope | Application timing |
|---|---|---|
| UK SRS S1 | General sustainability-related financial disclosures | Comply-or-explain from 1 January 2029 |
| UK SRS S2 | Climate-specific disclosures | Mandatory from 1 January 2027 (proposed) |
S2 cannot be applied without S1's conceptual foundation — definitions of materiality, scope of value chain, and the reporting-entity and connected-information requirements (UK SRS S1 ¶¶20–24).
This is why S1's foundational elements apply from January 2027 alongside S2, even though the broader S1 sustainability disclosures don't move to comply-or-explain until January 2029.
Who must comply with UK SRS
SRS standards are proposed to apply based on which of five UK Listing Rules categories a company sits in — though only three of those categories lead to a UK SRS reporting obligation.
The FCA's CP26/5 covers five UK Listing Rules categories, but proposes UK SRS reporting for only three of them:
In-scope UK Listing Rules categories
UKLR 6
Commercial companies — proposed mandatory UK SRS S2 (less Scope 3) plus comply-or-explain S1 and Scope 3
UKLR 14
Secondary listings — proposed to make a signposting statement about overseas standards, not report against UK SRS
UKLR 15
Depositary receipts — proposed to make a signposting statement about overseas standards, not report against UK SRS
UKLR 16
Non-equity shares and non-voting equity shares — proposed mandatory UK SRS S2 (less Scope 3) plus comply-or-explain S1 and Scope 3
UKLR 22
Transition category — proposed mandatory UK SRS S2 (less Scope 3) plus comply-or-explain S1 and Scope 3
Of the roughly 600 listed companies CP26/5 would affect, 515 — those in UKLR 6, 16 and 22 — would be required to comply with UK SRS.
The remaining 89, in UKLR 14 and 15, would instead make a statement identifying the overseas climate and sustainability standards they follow.2
Private company inclusion remains under consultation.
The Government has confirmed that compliance requirements for private companies will be addressed through the Modernising Corporate Reporting programme via amendments to the Companies Act 2006.
A consultation is expected later in 2026, with proportionate requirements and size thresholds to be developed.
For detailed scope determination including thresholds and edge cases, see who must comply.
The disclosure content itself is summarised in UK SRS requirements, and every cluster page is indexed from the UK SRS hub.
Implementation timeline
UK SRS follows a phased implementation timeline: voluntary reporting now, UK SRS S2 proposed mandatory from January 2027, supply chain emissions enhanced from January 2028, UK SRS S1 comply-or-explain from January 2029.
From consultation to compliance
The path from DBT standards to mandatory reporting.
Each milestone links to its primary source.
For the complete chronology including all milestones, see UK SRS timeline.
UK-specific amendments
UK SRS is the UK endorsement of IFRS S1 and IFRS S2.
The UK government proposed six amendments in its June 2025 consultation; the final Standards’ differences from IFRS S1/S2 are set out in Annex A of the government’s response, which carries no summary count.
The substance and structure of the global baseline remain; the amendments address UK regulatory environment, proportionality choices, and UK-specific mechanisms.
Selected differences from the IFRS baseline
SASB references changed from "shall" to "may"
Makes industry-specific guidance optional rather than mandatory (UK SRS S1 ¶¶55(a), 58(a))
Climate-first relief: two-year cap replaced with no time limit
The June 2025 proposal capped this relief at two years; the final Standard removes the time limit entirely (¶E3)
UK compliance statement and law-override provisions
New paragraphs ¶¶73A, 73B (S1) and ¶C6 (S2) set out how compliance statements work for reporters using the reliefs, and let future legislation or FCA rules re-time them
First-year delayed reporting option removed
IFRS S1 ¶E4 permitted publishing sustainability disclosures after the financial statements in year one; this is "Not applicable" in UK SRS S1
Financed-emissions disclosure duty added
New ¶B59A requires an explanation when financed emissions cannot reliably be estimated for the same period as the financial statements — a duty, not a relief
GICS classification requirement
Proposed for removal in June 2025, but withdrawn: the ISSB removed it itself in its own December 2025 amendments, before UK SRS S2 was issued.
Annex A does not list it as a UK difference
For detailed treatment of where UK SRS diverges from the global baseline, see UK SRS vs IFRS S1 and S2.
International alignment
UK SRS is part of a global movement toward consistent sustainability disclosure.
Over 40 jurisdictions are adopting ISSB-aligned standards, allowing investors to compare sustainability information across markets while individual jurisdictions retain regulatory sovereignty.
Governance disclosures lead readiness; metrics and value-chain emissions remain the principal gaps.
The UK's choice to endorse IFRS S1 and S2 (rather than develop a fully bespoke framework) means UK-listed companies can meet both UK obligations and international investor expectations through a single reporting framework.
These UK-specific differences preserve necessary UK regulatory characteristics without breaking comparability with the global baseline.
UK SRS also sits alongside the related UK assurance framework ISSA (UK) 5000, a voluntary standard published by the FRC on 12 November 2025, applying to engagements on periods beginning on or after 15 December 2026 (earlier application permitted).
CP26/5 does not propose making sustainability assurance mandatory; it currently proposes only that in-scope companies state whether they obtained it.
Getting ready for UK SRS
Discovery
- Download and review UK SRS S1 and S2
- Map current TCFD disclosures to UK SRS requirements
- Identify data and process gaps
Planning
- Build Scope 3 data infrastructure (12-18 months)
- Engage assurance providers under ISSA (UK) 5000
- Establish governance structures
Implementation
- Deploy data collection systems
- Train finance and sustainability teams
- Run pilot reporting cycles
Reporting
- Complete materiality assessment
- Generate climate and sustainability metrics
- Obtain limited assurance
