UK SRS requirements: what S1 and S2 ask a company to disclose

UK SRS requirements are the disclosure requirements in two standards issued on 25 February 2026: UK SRS S1 (general requirements for sustainability-related financial information) and UK SRS S2 (climate-related disclosures). Both require information across four pillars — governance, strategy, risk management, and metrics and targets — about the risks and opportunities that could reasonably be expected to affect a company's cash flows, its access to finance or its cost of capital over the short, medium or long term.

Not as such. The standards are available for voluntary use by any entity. For listed companies in UKLR 6, 14, 15, 16 and 22, the FCA's final rules in PS26/19 require reporting against UK SRS on a comply-or-explain basis for accounting periods beginning on or after 1 January 2027: a company either discloses in accordance with UK SRS or explains what it has not disclosed and why. No other UK entity is required to use UK SRS.

Neither on its own. UK SRS S1 and S2 are standards issued by the Secretary of State for Business and Trade; they contain no effective date and bind no one by themselves. The obligation for listed companies comes from FCA rules — the UK Listing Rules as amended by the UK Listing Rules (Sustainability Reporting Standards Disclosure) Instrument 2026, made under the Financial Services and Markets Act 2000. The Companies Act 2006 recognises UK SRS S2 as a national reporting framework for the climate-related financial disclosures in section 414CB.

Governance (the body or individuals responsible for oversight, and management's role), strategy (the risks and opportunities, their effect on the business model, value chain, strategy, financial position and resilience), risk management (the processes used to identify, assess, prioritise and monitor them) and metrics and targets (how performance is measured and progress tracked). UK SRS S1 sets them out at paragraph 25; UK SRS S2 applies them to climate.

UK SRS S2 requires absolute gross Scope 1, Scope 2 and Scope 3 greenhouse gas emissions, measured under the GHG Protocol. It also contains a Scope 3 relief with no time limit of its own. Under the FCA's final rules a listed company may rely on that relief for its first period in scope, stating that it is doing so; after that, Scope 3 is disclosed or its omission explained under comply or explain.

Very little in substance. The government's authoritative list of differences is Annex A of its consultation response of 25 February 2026, which carries no count. The main ones: the effective dates were removed; the Scope 3 and climate-first reliefs lost their time limits, which are now set by FCA rules or legislation; references to SASB and industry-based guidance changed from "shall" to "may"; the IFRS S1 relief allowing sustainability disclosures after the financial statements was removed; paragraphs 73A and 73B were added on compliance statements and UK law; and UK SRS S2 paragraph B59A adds a duty to explain where financed emissions cannot be estimated.

No. Neither the standards nor the FCA's final rules require assurance. A listed company must state whether or not it has obtained third-party assurance and, if it has, name the provider, what was assured and to what level, and the standards used. The FRC's ISSA (UK) 5000 is available for voluntary use and is effective for engagements on periods beginning on or after 15 December 2026.

The FCA's rules require the disclosures, and any explanations, to be included in the annual financial report, and allow cross-referencing to another report where UK SRS S1 paragraphs B45 to B47 permit it; the company says where they can be found. UK SRS S1 paragraph 64 requires sustainability-related financial disclosures to be reported at the same time as the related financial statements. The government has confirmed that if UK SRS disclosure is placed in the strategic report, the safe harbour in section 463 of the Companies Act applies.