UK Sustainability Reporting Standards (UK SRS) is the new UK endorsed framework for sustainability-related and climate-related financial disclosure. Having been finalised in February 2026, it focuses on financial materiality – requiring companies to disclose how sustainability and climate-related risks and opportunities influence enterprise value, expecting to progress toward mandatory assurance from 2028/29.
The UK SRS will form a key part of the UK’s Sustainability Disclosure Requirements (SDR) and proposes phased mandatory reporting for listed companies from 2027 and large private companies from 2028. Forming a core pillar of the UK Government’s SDR, aiming to increase corporate transparency, allow for easier comparison between companies, and crack down on greenwashing.
Any UK-based entity (private or listed) can start reporting on UK SRS S1 and S2 now. Early adoption is being encouraged by government as “best practice” to get your data, systems and processes ready well in advance of the legislation becoming mandatory in the years ahead.
The Uk government proposes that in the short to medium term, UK SRS will become mandatory for listed companies who’s accounting period begins on or after 01 January 2027, with first reports due in 2028
Note: there is a “Climate-First” rule which requires companies to report on UK SRS S2 (Climate) first. Broader sustainability reporting (UK SRS S1) is optional until 2029.
Looking further out, the legislation will pull more companies into the scope – organisations will need to comply if they meet at least 2 of the following 3 metrics within their accounting period starting on 01 January 2028 (first reports due 2029):
The UK government and the Financial Conduct Authority (FCA) have adopted a “transparency first” approach to the new standards. For accounting periods starting 1 January 2027, in-scope companies must include a specific statement in their annual report declaring whether their sustainability disclosures have been independently assured.
This “disclose or explain” approach may not be legally enforced however following this initial transparency phase- Mandatory Limited Assurance is expected to be phased in for accounting periods starting in 2028/29, with a transition to full, audit-level Reasonable Assurance targeted from 2030 onwards.
What do we disclose?
The focus of SRS will be to encourage reporting that focuses on the four key pillars:
Compliance isn’t just a simple one step process – it’s a journey.
Starting by conducting a materiality with stakeholders to help determine the most financially relevant and impactful sustainability matters to disclose in relation with your business priorities. However, this is only step one- other steps must be taken following on from the materiality like;
Compliance is more than following steps, the challenge lies in translating the above into MEANINGFUL and MEASURABLE ACTIONS.
Boxfish are experts in making the complex, simple.
Our team has the technical insight necessary to implement these standards with precision, helping you bridge the gap between compliance and performance.
Want more information? Simply explore our UK SRS page, or get in touch with max@weareboxfish.com.