Sustainability reporting requirements

Learn about our TCFD-aligned reporting requirements, the companies and firms that fall in scope of the rules, and next steps for climate and sustainability reporting.

Financial markets rely on high-quality and comparable sustainability disclosures to inform asset pricing and capital allocation. Financial institutions, including asset managers, banks, insurers and pension providers, also need reliable data on sustainability factors to build products that meet their clients' and consumers' needs. Reliable data also helps with their own investment and risk management processes.  

Our future plans

We welcome the Government's consultations published on 25 June 2025, including the draft UK Sustainability Reporting Standards (UK SRS). We intend to consult later this year on how listed companies will adopt these standards, promoting international alignment and the growth of the UK as a centre for sustainable finance. This will include our proposed approach to the disclosure of transition plans.

We’re also beginning work to streamline and enhance our sustainability reporting framework for asset managers and FCA-regulated asset owners. If you would like to engage with us as part of this next phase of work, please email [email protected]. 

Read more about our future plans.

 

Summary timeline

2020

Following the creation of the Taskforce on Climate-related Financial Disclosures (TCFD) by the Financial Stability Board (FSB) in 2015 and publication of its recommendations in 2017, UK Government departments and regulators set out a roadmap for TCFD reporting in the UK.

2021

We introduced TCFD-aligned rules for premium listed commercial companies from 1 January.

2022

We introduced TCFD-aligned rules for standard listed commercial companies, asset managers and FCA-regulated asset owners from 1 January.

In April, the Treasury established the Transition Plan Taskforce (TPT) to develop a market-led framework for transition plan disclosure.

2023

In June, the International Sustainability Standards Board (ISSB) issued 2 global sustainability disclosure standards, IFRS S1 and IFRS S2.

In July, the FSB announced that the work of the TCFD had been completed, with the ISSB standards fully incorporating its recommendations. Having fulfilled its remit, the TCFD was disbanded later that year.

In August, we set out our intention to consult on moving from TCFD- to ISSB-aligned disclosure rules for listed companies, and TPT-aligned expectations on transition plans. 

In October, the TPT published its final Disclosure Framework and guidance.

2024​

The ISSB assumed responsibility for the TPT's outputs and confirmed its intention to use them to develop educational materials.

2025

In June, the Government published the draft UK SRS. In the same month, the IFRS Foundation published guidance on disclosures about transition plans, which aims to support entities to disclose information about their climate-related transition, including information about transition plans, in accordance with IFRS S2.

What we'll do in the future

We have been a strong advocate of the development of international corporate reporting standards on sustainability. We welcome the ISSB standards, which answer the clear market demand for complete, consistent, comparable and reliable sustainability disclosures.

The Secretary of State for Business and Trade is responsible for the decision to endorse the ISSB standards in the UK. In June 2025, the Government published 3 consultations:

More information on reporting frameworks

International Sustainability Standards Board (ISSB)

In 2021, the trustees of the IFRS Foundation announced the formation of the International Sustainability Standards Board (ISSB), which would develop a comprehensive global baseline of sustainability disclosure standards to meet the information needs of investors and financial markets.

Transition Plan Taskforce (TPT)

As we transition to a low emissions economy, financial markets increasingly want better information on how companies plan to adapt their business models, their operations and their products and services. Climate transition plan disclosures deliver this information and the TPT's Disclosure Framework provides best practice guidance for firms.

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