UK SRS S2: the climate standard at a glance
UK SRS S2 is the UK’s climate-related disclosure standard — the endorsement of IFRS S2, built on the familiar four-pillar architecture.
This is the overview: what S2 is, where it sits beside UK SRS S1 and TCFD, the four pillars in brief, and who falls in scope and when.
For the detailed disclosure requirements, follow the links to our deep-dive guides.
What UK SRS S2 is — in 60 seconds
UK SRS S2 is the UK’s climate-related disclosure standard.
The Department for Business and Trade published it on 25 February 2026, alongside UK SRS S1, and made it available for voluntary use[1].
It is not a new invention. S2 is the UK endorsement of the ISSB’s IFRS S2, which the ISSB issued on 26 June 2023[3].
The UK adopted it with six narrow UK-specific amendments rather than a rewrite, so the substance is the international standard[1].
Where S2 sits: S1 vs S2
UK SRS is a pair of standards, not one.
The cleanest way to hold them in your head is framework-then-topic.
UK SRS S1 is the general standard — it sets the architecture for reporting on any sustainability-related risk or opportunity that could affect a company’s prospects[1].
UK SRS S2 is the first topic-specific application of that architecture, focused entirely on climate[1].
| UK SRS S1 | UK SRS S2 | |
|---|---|---|
| Scope | General sustainability-related disclosures | Climate-related disclosures only |
| Role | The framework — how to report | The first topic applied to that framework |
| Endorses | IFRS S1 | IFRS S2 |
| Proposed FCA basis | Comply-or-explain (later) | Mandatory for in-scope listed cos (first) |
Climate leads the way in. Under the FCA’s proposals, S2 is the first to bite for in-scope listed companies, with the broader S1 requirements following on a comply-or-explain basis[2].
For the foundational explainer on both standards, see our what is UK SRS guide.
The four pillars, in brief
Every S2 disclosure maps to one of four pillars — the same structure climate reporters will recognise from TCFD and IFRS S2[4].
This is a summary, not the full requirement set.
The detailed paragraph references sit in the disclosures deep-dive.
| Pillar | In one line |
|---|---|
| Governance | Board oversight and management responsibility for climate risks and opportunities |
| Strategy | The climate risks, financial effects, scenario analysis and transition-plan disclosure |
| Risk management | How climate risks are identified, assessed and folded into wider risk processes |
| Metrics & targets | GHG emissions, cross-industry climate metrics and climate-related targets |
For the seven cross-industry metrics, scenario-analysis rules and full paragraph references, see our UK SRS S2 climate disclosures guide.
GHG emissions: Scope 1, 2 and 3
The most quantitative part of S2 is greenhouse-gas emissions, classified into three scopes and measured under the GHG Protocol[5].
| Scope | What it covers |
|---|---|
| Scope 1 | Direct emissions from owned or controlled sources |
| Scope 2 | Indirect emissions from purchased electricity, heat, steam and cooling |
| Scope 3 | Indirect value-chain emissions, upstream and downstream |
Scope 3 is the hardest and is treated differently. For in-scope listed companies, the FCA proposes that Scope 3 be reported on a comply-or-explain basis with one year of transitional relief from initial application[2].
The value-chain detail and that relief are covered in our Scope 3 under UK SRS analysis.
Scope and timeline, in outline
UK SRS S2 is voluntary for everyone today[1].
The FCA’s CP26/5 proposes making it mandatory for in-scope listed companies — those in UK Listing Rules categories 6, 16 and 22, around 500 companies — for accounting periods beginning on or after 1 January 2027[2].
Scope 3 would follow a year behind on a comply-or-explain basis[2].
These remain proposals: the consultation closed on 20 March 2026 and a Policy Statement with final rules is expected in autumn 2026[2].
| Requirement | From | Basis |
|---|---|---|
| UK SRS S2 climate (excluding Scope 3) | FY beginning on/after 1 Jan 2027 | Mandatory |
| Scope 3 emissions | FY beginning on/after 1 Jan 2028 | Comply-or-explain (1-yr relief) |
| UK SRS S1 (non-climate) | FY beginning on/after 1 Jan 2029 | Comply-or-explain |
Where to read more
This page is the overview.
Each link below opens the detailed treatment of one part of S2.
UK SRS S2: frequently asked questions
What is UK SRS S2 in simple terms?
UK SRS S2 is the UK climate-related disclosure standard. It is the UK endorsement of the ISSB’s IFRS S2, published by the Department for Business and Trade on 25 February 2026 alongside UK SRS S1 and available for voluntary use. It tells companies what to disclose about their climate-related risks and opportunities, organised around four pillars: governance, strategy, risk management, and metrics and targets.
What is the difference between UK SRS S1 and UK SRS S2?
UK SRS S1 is the general standard — it sets out how an entity reports on any sustainability-related risk or opportunity that could affect its prospects. UK SRS S2 is the climate-specific standard that applies those general requirements to climate. In short, S1 is the framework and S2 is the first topic-specific application of it. The two are designed to be used together, and the FCA proposes that climate (S2) come into force before the broader S1 requirements.
How does UK SRS S2 relate to TCFD?
UK SRS S2 inherits the four-pillar structure that climate reporters know from the Task Force on Climate-related Financial Disclosures (TCFD). IFRS S2 — which the UK endorsed as S2 — fully incorporates the TCFD’s recommendations, and the TCFD itself was disbanded in October 2023 once the ISSB took on its monitoring role. The practical shift is from largely qualitative TCFD narrative to specific, quantified, paragraph-referenced metrics.
Is UK SRS S2 mandatory yet?
Not yet. UK SRS S2 is currently voluntary for all entities. The FCA’s CP26/5 proposes making it mandatory for in-scope listed companies — those in UK Listing Rules categories 6, 16 and 22, around 500 companies — for accounting periods beginning on or after 1 January 2027. Those are proposals: the consultation closed on 20 March 2026 and the FCA is expected to publish a Policy Statement with final rules in autumn 2026.
Does UK SRS S2 require Scope 3 emissions?
Yes. UK SRS S2 requires absolute gross greenhouse-gas emissions classified into Scope 1, Scope 2 and Scope 3, measured under the GHG Protocol. For in-scope listed companies, the FCA proposes that Scope 3 be reported on a comply-or-explain basis with one year of transitional relief from initial application — so Scope 3 effectively follows a year behind the rest of S2.
- UK Sustainability Reporting Standards (UK SRS S1 and UK SRS S2) — GOV.UK / Department for Business and Trade · Published 25 February 2026; six UK-specific amendments; available for voluntary use
- CP26/5: Aligning listed issuers’ sustainability disclosures with international standards — Financial Conduct Authority · Proposed mandatory UK SRS S2 from 1 Jan 2027; Scope 3 comply-or-explain; closed 20 Mar 2026
- IFRS S2 Climate-related Disclosures — IFRS Foundation / ISSB · Issued 26 June 2023; integrates and builds on the TCFD recommendations
- ISSB and TCFD — IFRS Foundation · TCFD recommendations fully incorporated into ISSB Standards; TCFD disbanded October 2023
- Corporate Accounting and Reporting Standard — GHG Protocol · Scope 1 and Scope 2 accounting methodology referenced by UK SRS S2