What an SRS report is, and who has to file one
An SRS report is a set of sustainability disclosures prepared under the UK Sustainability Reporting Standards — UK SRS S1 and UK SRS S2 — which the Department for Business and Trade published on 25 February 2026.
They are available for voluntary use by any entity today, and the Financial Conduct Authority has proposed making UK SRS S2 mandatory for listed companies from 1 January 2027.
UK SRS is voluntary as at 27 July 2026, and nothing on this page is a legal obligation yet.
The 2027, 2028 and 2029 dates below are proposals in FCA consultation paper CP26/5, which closed on 20 March 2026; the FCA's policy statement is expected in autumn 2026 and had not been published when this page was last verified.
This page is general guidance about a reporting framework, not legal, accounting or audit advice, and it does not substitute for advice on your own reporting obligations.
Two standards. There is no S3.
UK SRS S1 sets the general requirements for reporting sustainability-related risks and opportunities, and UK SRS S2 sets the climate-related disclosures.
Both are based on IFRS S1 and IFRS S2 as issued by the ISSB in June 2023, with a small number of UK amendments: four recommended by the Technical Advisory Committee and two following the Policy and Implementation Committee.
UK SRS S2 is a national reporting framework for the purposes of section 414CB(6) of the Companies Act 2006, so a company reporting under it does not need to duplicate those disclosures elsewhere in its strategic report.
Producing one is an ordered build
An SRS report is not a document you write at the end of a year; it is the output of a reporting system you have to stand up first.
Board oversight
Who on the board owns sustainability risk, how often they see it, and how it is evidenced.
Measurement
Scope 1 and 2 emissions first, then the Scope 3 categories that are material to you.
Climate resilience
Scenario analysis proportionate to your circumstances, and the reasoning behind the scenarios chosen.
The report itself
Governance, strategy, risk management, and metrics and targets, published with the financial statements.
Readiness
Evidence trails a practitioner can test, ahead of assurance under ISSA (UK) 5000.
Four pillars, running in parallel
An SRS report is organised the way TCFD was — governance, strategy, risk management, metrics and targets — because the ISSB built that structure into IFRS S1 and S2 and the UK adopted it intact.
What changed is the depth expected under each heading.
Source: UK SRS S2 pillar structure, as adopted from IFRS S2 — DBT, 25 Feb 2026
If you already report under TCFD
You are not starting from nothing, and the four headings you already use carry straight across.
The honest answer on how much more work it is depends entirely on how thin your existing TCFD disclosure was, which is why there is no score on this one.
What TCFD already gave you
What UK SRS adds
Pillar comparison ported from uksrs.org.uk · Scope 3 relief per FCA CP26/5 §8.6
Is an SRS report going to apply to you?
The FCA's proposal reaches five UK Listing Rules categories and nothing else.
On its own analysis of the Official List, around 600 listed companies would be affected, of which 515 would be required to comply with UK SRS and 89 would face only a lighter home-regime disclosure.
AIM is not on the Official List and is not mentioned anywhere in CP26/5.
Logic ported from uksrs.org.uk scope guidance · categories and population from FCA CP26/5 §3.4 and Annex 2 ¶43
The obligation gains mass year on year
Only two things on this timeline are settled: the standards were published, and the assurance standard has an effective date. The full month-by-month view lives on the UK SRS timeline.
Everything from 2027 onward is a proposal that could move with the FCA's policy statement.
Ported from uksrs.org.uk timeline data, corrected against CP26/5 and ISSA (UK) 5000
The seal that goes on it
The FRC issued ISSA (UK) 5000 in November 2025, effective for assurance engagements on sustainability information reported for periods beginning on or after 15 December 2026.
There is no FRC register of sustainability assurance providers today; the FRC has committed to establishing a voluntary registration regime.
What a practitioner will look for
What most first-time reporters have
Effective date per FRC ISSA (UK) 5000 · registration regime per FRC Plan and Budget 2026/27
Our services
We are a small independent consultancy working on UK sustainability reporting, and we are specific about what that means rather than claiming a capability in everything.
Most of our work falls into three kinds of engagement.
We do not hold a statutory audit or assurance registration, and we do not provide legal or accounting advice.
Where an engagement needs an assurance practitioner, an auditor or a lawyer, we say so and work alongside them rather than in place of them.
Latest UK sustainability reporting news
Short, sourced reports on UK sustainability-reporting news — UK SRS, SECR, ESOS, TCFD, CDP and the carbon market — always naming and linking the original source.
Gravity launches an 'all-purpose' AI agent for sustainability teams
The US platform's move into agentic, API-based sustainability reporting is a signal of where compliance workload is heading — including for UK SRS preparers.
Carbon markets · 27 Jul 2026Asuene acquires UK-based Secaro in supply-chain carbon push
The $37M deal for a UK supply-chain carbon specialist underlines where disclosure pressure is heading: Scope 3 and the supplier data behind it.
Organisations in and around the proposed scope
The FCA's proposal covers listed companies on five UK Listing Rules categories, and the organisations that come to us are usually either inside that population or preparing in case the scope widens.
Listed companies
- Commercial companies category (UKLR 6) — the largest group in the FCA's proposal
- Non-equity shares and non-voting equity shares (UKLR 16) and the transition category (UKLR 22)
- Secondary listing and depositary receipts (UKLR 14 and 15), which face a lighter home-regime disclosure
Financial institutions
- Banks working through financed emissions under UK SRS S2
- Insurers with climate-risk disclosures already in the annual report
- Asset managers building portfolio-level reporting
Where the reporting problems differ by sector
The standards are the same for everyone, and the hard part is not.
A 12 to 18 month route, if you are starting now
This is the shape most preparation programmes take against the FCA's proposed dates, not a promise about your organisation.
| Phase | Timeframe | What happens |
|---|---|---|
| 1 — Preparation | 2026 Q3–Q4 | Board governance setup, data system assessment, advisory engagement |
| 2 — S2 implementation | 2027 Q1–Q4 | Climate disclosure preparation, Scope 1 and 2 measurement, scenario analysis |
| 3 — Scope 3 integration | 2028 Q1–Q4 | Value-chain engagement, category assessment, financial integration |
| 4 — S1 broader topics | 2029 Q1 onward | Materiality assessment, non-climate topics, comprehensive reporting |
Roadmap ported from the implementation roadmap component on uksrs.org.uk. The phase dates track the FCA's proposed effective dates in CP26/5 and would move with the policy statement.
Verified position as at 27 July 2026
This site previously said UK SRS replaces SECR in 2026, and that is wrong.
The Department for Energy Security and Net Zero published its post-implementation review of the SECR regulations on 26 May 2026 and recommended retaining SECR with amendments.
SECR therefore continues alongside UK SRS.
The government has said only that it will consider how energy and emissions data reported under UK SRS interacts with SECR, with a view to reducing duplication — a review of overlap, not a replacement. DESNZ post-implementation review, 26 May 2026
SRS report FAQ
An SRS report is a set of sustainability-related financial disclosures prepared under the UK Sustainability Reporting Standards.
There are two standards: UK SRS S1 (general requirements) and UK SRS S2 (climate-related disclosures).
They are based on IFRS S1 and S2 as issued by the ISSB in June 2023, with UK amendments, and are available for voluntary use by any entity today. The complete UK SRS reference covers both standards clause by clause.
Exactly two: S1 (general requirements) and S2 (climate-related disclosures).
There is no S3 or S4.
The framework follows the ISSB's climate-first approach.
Not yet — UK SRS is voluntary today.
The FCA has proposed making UK SRS S2 mandatory for listed issuers for accounting periods beginning on or after 1 January 2027.
That is subject to a policy statement expected in autumn 2026, following consultation CP26/5.
At present, nobody — UK SRS is voluntary.
Under the FCA's proposal the rules would apply to issuers in five UK Listing Rules categories: UKLR 6, 14, 15, 16 and 22.
On the FCA's own analysis around 600 listed companies would be affected, of which 515 would be required to comply with UK SRS.
The remaining 89, in the secondary listing and depositary receipts categories, would instead disclose the climate or sustainability requirements applying in their primary listing location.
AIM is not on the Official List and is not mentioned anywhere in CP26/5.
The FCA proposes rules in force from 1 January 2027, applying to accounting periods beginning on or after that date.
That is a proposal in CP26/5, not a made rule, and the date could move with the FCA's policy statement.
UK SRS itself sets no time limit on the Scope 3 relief, because the government removed the specific time references from the standards.
Voluntary users may therefore apply the relief indefinitely.
The FCA separately proposes one year of relief from initial application on a comply-or-explain basis, which would bite for financial years beginning on or after 1 January 2028.
An issuer relying on it must identify the specific UK SRS S2 paragraphs it has not complied with and explain why.
No — SECR remains in force.
DESNZ published a post-implementation review on 26 May 2026 recommending that SECR be retained with amendments.
The government has said it will consider how UK SRS energy and emissions data interacts with SECR to reduce duplication, which is a review of overlap rather than a replacement.
The government response describes four amendments recommended by the Technical Advisory Committee — removing the IFRS S1 relief permitting sustainability information to be published at a different time from the financial statements in the first year; extending the climate-first relief from one year to two; removing the requirement to use the Global Industry Classification Standard from UK SRS S2; and removing the effective date clauses — plus two following the Policy and Implementation Committee's conclusions on SASB materials and on linking relief periods to when reporting requirements come into force. Further amendments were made after consultation, including new reliefs for voluntary users and a mechanism for financial institutions on financed emissions.
Go deeper
UK SRS vs SECR
Two regimes that now run alongside each other, and what each one actually asks for.
TechnicalScope 3: a practical guide
Category selection, data sources, and the comply-or-explain mechanism.
SectorFinanced emissions
How banks and asset managers approach Category 15 under UK SRS S2.
Every figure on this page
Working out what an SRS report means for you?
Tell us where you are listed and what you already report, and we will tell you honestly whether you need help and what kind.