UK Sustainability Reporting Standards (UK SRS) consist of two standards: UK SRS S1 (General Requirements) and UK SRS S2 (Climate-related Disclosures). They are based on IFRS S1 and S2 issued by the ISSB in June 2023, with six minor UK-specific amendments. UK SRS is currently available for voluntary use by any entity.

How many UK SRS standards are there?

There are exactly two UK SRS standards: S1 (General Requirements) and S2 (Climate-related Disclosures). There are no S3 or S4 standards. The framework follows the ISSB climate-first approach.

UK SRS is currently voluntary. The FCA has proposed making UK SRS S2 mandatory for listed issuers from 1 January 2027, subject to their Policy Statement expected in autumn 2026. Private companies remain under review via the Modernisation of Corporate Reporting programme.

UK SRS Standards

UK SRS S1 — General Requirements for Sustainability-Related Financial Disclosures

Foundational framework for all non-climate sustainability topics, establishing materiality, connectivity, and disclosure requirements. Currently voluntary with proposed comply-or-explain application from January 2029.

DBT Final Standard

Overview

UK SRS S1 establishes the foundational framework for sustainability-related financial disclosures across all sustainability topics except climate.
Published 25 February 2026 by DBT alongside UK SRS S2, proposed mandatory on comply-or-explain basis from January 2029.

Key conceptual foundations (materiality, connectivity, value chain) apply from January 2027 alongside UK SRS S2,
as S2 cannot be applied without these S1 architectural elements.

Scope Assessment

Am I in scope for UK SRS?

Is your company listed on a UK exchange?

What UK SRS S1 Covers

S1 requires disclosure of all sustainability-related risks and opportunities that could reasonably affect:

Entity's cash flows
Access to finance
Cost of capital

Over short, medium, and long-term horizons.

Materiality Assessment Framework

UK SRS S1 requires entities to identify sustainability-related risks and opportunities using materiality assessment.
Information is material if omitting it could reasonably influence decisions of primary users.

The standard requires consideration of both:

Enterprise value materiality: Effects on entity's cash flows, access to finance, cost of capital
Impact materiality: Entity's effects on people and environment (where required by regulation)

Unlike IFRS S1, UK SRS S1 does not require automatic impact materiality assessment —
only where mandated by other UK regulatory requirements.

Implementation Planning

12-18 Month Roadmap

Click workstreams for detailed guidance. Timeline assumes December year-end with 2027 first mandatory reporting.

M10

M11

M12

M13

M14

M15

Gap Analysis

Critical

Governance Setup

Critical

Data Infrastructure

Critical

Scenario Analysis

High

Controls & Assurance

High

Disclosure Drafting

Medium

Core Disclosure Requirements

Governance

Board and management oversight of sustainability-related risks and opportunities, including processes,
controls, and procedures for monitoring and managing sustainability matters.

Strategy

Sustainability-related risks and opportunities affecting business model, strategy, and cash flows
over short, medium, and long-term horizons.

Risk Management

Processes for identifying, assessing, prioritising, and monitoring sustainability-related risks and opportunities,
and integration with overall risk management processes.

Metrics and Targets

Metrics used to measure and monitor sustainability-related risks and opportunities,
including targets set and progress against those targets.

Capability Assessment

Implementation Readiness

Governance

→

Strategy

→

Risk Mgmt

→

Metrics

→

Regulatory Development

UK SRS S1 Regulatory Process

Multi-stakeholder development process showing consultation phases, government response, and implementation timeline for UK SRS S1 General Requirements.

Regulatory Chronology

Four-Track Implementation Timeline

Parallel regulatory activity across DBT, FCA, FRC, and implementation effects

NOW

DBT

Department for Business and Trade

FCA

Financial Conduct Authority

FRC

Financial Reporting Council

Effect

Regulatory Effect

Consultation Opens

[1]

UK SRS exposure drafts published

25 Jun 2025

Consultation Closes

[2]

209 responses received

17 Sept 2025

ISSA (UK) 5000

[3]

Sustainability assurance standard published

12 Nov 2025

CP26/5 Published

[4]

Consultation on mandatory implementation

30 Jan 2026

UK SRS Final

[5]

Standards published with 7 UK amendments

25 Feb 2026

CP26/5 Closes

[6]

Consultation period ends

20 Mar 2026

Policy Statement

[7]

Expected publication of final rules

1 Oct 2026

ISSA (UK) 5000 Effective

[8]

Assurance standard becomes mandatory

15 Dec 2026

S2 Proposed Mandatory

[9]

≈500 listed companies in scope

1 Jan 2027

Scope 3 Enhanced

[10]

End of transitional relief period

1 Jan 2028

UK-Specific Amendments

UK SRS S1 incorporates several amendments to the IFRS S1 baseline:

First-year relief removed: No transitional relief for general sustainability topics
Climate-first relief reworked: Modified approach to climate disclosure prioritisation
SASB requirements softened: "Shall" converted to "may" in certain contexts
GICS requirement removed: No mandatory Global Industry Classification Standard
UK effective dates: Removal of ISSB effective date references

Related guides & references

Climate Standards

UK SRS S2 — Climate-Related Financial Disclosures

Enhanced TCFD framework with mandatory climate disclosures

12 minStandards

Implementation

UK SRS Compliance Guide

Step-by-step implementation roadmap with phased approach

18 minCompliance

Timeline

UK SRS Implementation Timeline

Complete regulatory timeline through 2029

8 minPlanning

Authority Sources

UK SRS S1 — General Requirements for Sustainability-Related Financial Disclosures (DBT, 25 February 2026)
CP26/5: Sustainability Disclosures (FCA, January 2026)