On 25 February 2026, the government issued final versions of the UK Sustainability Reporting Standards: UK SRS S1 and UK SRS S2, making the new standards available for voluntary use in the UK (Collection: UK SRS guidance and documents). Publication of UK SRS S1 and UK SRS S2 follows consultation in 2025 on a package of proposals to develop and modernise the UK's sustainability framework, including exposure drafts of UK SRS based on the International Sustainability Standards Board's global disclosure standards IFRS S1 and IFRS S2 issued in June 2023 (see FC Feature 26 June 2025). The DBT has also published a Response to that consultation alongside the standards. The final versions of UK SRS incorporate minor amendments to the ISSB standards, reflecting the government's stated aim of limiting divergence from them as far as possible.
As part of its wider reform programme to modernise the corporate reporting framework (see FC Feature 21 October 2025), the government will consider whether to introduce mandatory reporting obligations under the Companies Act 2006 for private entities to report against UK SRS. Further details will be included in a consultation planned for later this year. The FCA is currently consulting on proposals to replace existing climate-related disclosure rules for listed companies with new reporting requirements in line with UK SRS (see FC Feature 30 January 2026).
In tandem with its 2025 consultation on the draft UK SRS, the government requested views on proposals requiring UK-regulated financial institutions and large companies to develop and implement climate transition plans (see FC Feature 26 June 2025). A summary of the feedback received will be published in due course. Earlier this year, the DBT confirmed plans to introduce a voluntary oversight regime for sustainability assurance providers, to be implemented by the FRC (see FC Feature 2 February 2026).
First published on the Corporate News Service on 26 February 2026
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