The UK Sustainability Reporting Standards (UK SRS) are the UK’s new mandatory sustainability and climate disclosure framework, finalised in February 2026 and based closely on the ISSB’s IFRS S1 and IFRS S2 standards, with minor amendments to align with UK company law and regulatory requirements.
The UK Sustainability Reporting Standards (UK SRS) are the UK’s new mandatory sustainability and climate disclosure framework.
Finalised in February 2026, they are based on the International Sustainability Standards Board (ISSB) standards – IFRS S1 (General Requirements) and IFRS S2 (Climate-related Disclosures) – with minor UK-specific amendments endorsed by the UK government.
The UK SRS will form a key part of the UK’s Sustainability Disclosure Requirements (SDR) and introduce phased mandatory reporting for listed companies from 2027 and large private companies from 2028.
This guide explains:
What are the UK Sustainability Reporting Standards?
The UK Sustainability Reporting Standards (UK SRS) are the new set of disclosure requirements which were finalised in February 2026. Designed to provide a global baseline for transparency, they guide organisations on disclosing sustainability-related financial information and climate-related risks and opportunities.
The standards do not exist in isolation; they are the UK-endorsed versions of the International Sustainability Standards Board (ISSB) framework. Specifically, UK SRS S1 (General Requirements) and UK SRS S2 (Climate-related Disclosures) mirror the global International Financial Reporting Standards (IFRS) S1 and S2 standards, but with narrow UK-specific amendments to ensure they align seamlessly within the UK’s existing legal and corporate reporting landscape.
At their core, the emphasis of these standards is on financial materiality – bridging the gap between a company’s sustainability performance and its impact on financial disclosures. By connecting non-financial data with cash flow and risk profiles, the SRS aim to give investors a more synergistic view of a company’s long-term resilience.
The SRS will form a core pillar of the UK Government’s Sustainability Disclosure Requirements (SDR), which aim to increase corporate transparency, allow for easier comparison between companies, and crack down on greenwashing.
Who will be impacted?
From February 2026, the implementation timeline set out a phased approach:
What to Report?
The focus of UK SRS will be to encourage the reporting that discloses on four key pillars:
Will Disclosures be Audited?
The UK government and the Financial Conduct Authority (FCA) have adopted a “transparency first” approach to the new standards.
For accounting periods starting 01 January 2027, in-scope companies must include a specific statement in their annual report declaring whether their sustainability disclosures have been independently assured.
While the government has introduced this as a “disclose or explain” requirement – meaning companies must state their assurance status but are not yet legally forced to obtain it – the market expectation for quality data is high.
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.
Steps to be Taken
Understanding the myriad requirements of the UK SRS is only the first step; the most significant challenge lies in translating them into meaningful disclosures and measurable actions. Boxfish possesses the regulatory expertise and technical insight necessary to implement these standards with precision. We assist organisations in bridging the gap between compliance and performance, supporting you with:
Get in touch with our UK SRS experts today to ensure your organisation is ready.
UK SRS S1 and S2 are almost identical to IFRS S1 and IFRS S2, with only narrow UK-specific amendments. These include:
Yes. Mandatory reporting begins for listed companies in 2027 and for large private companies in 2028, with climate disclosures required first.
UK SRS are UK-endorsed versions of the ISSB standards, with minor amendments to fit the UK regulatory environment.
Not immediately. A “disclose or explain” requirement applies from 2027, with mandatory limited assurance expected by 2028/29, and progression to reasonable assurance by 2030.
Yes – Scope 1, 2 and 3 emissions must be disclosed where they are financially material.
Not initially, but voluntary adoption is encouraged and may become a requirement later.