The UK government was expected to provide an update in Q1 2025 on the adoption of IFRS S1 and S2 sustainability disclosure standards. However, this deadline has been missed, and the March meeting on the topic was cancelled.

Background on IFRS S1 and S2

IFRS S1 and S2 were developed by the International Sustainability Standards Board (ISSB) to standardise corporate sustainability reporting:

• IFRS S1 sets out general sustainability disclosure requirements.
• IFRS S2 focuses on climate-related disclosures, including greenhouse gas emissions and risk management.

The UK’s Review Process

In its 2023 Green Finance Strategy, the UK government committed to assessing IFRS S1 and S2 for implementation. In December 2024, the UK Sustainability Disclosure Technical Advisory Committee (TAC) completed its review and recommended their adoption with minor modifications, including an extended transition period.

As Operational Carbon Footprinting and accurate emissions reporting is an integral part of this legislation, particularly in S2, we will continue to provide updates. You can follow yourself here – UK Sustainability Disclosure TAC Meetings and Summaries.