UK Sustainability Disclosure TAC Projects
Published: 18 December 2024
1 minute read
Endorsement: Technical assessment of IFRS S1 and IFRS S2
Status: Complete
The UK Sustainability Disclosure TAC received a commission from the Department for Business and Trade (DBT) to undertake a technical assessment of the IFRS® Sustainability Disclosure Standards—specifically, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (IFRS S1) and IFRS S2 Climate-related Disclosures (IFRS S2)—to determine their appropriateness for use in the UK.
Overall, the TAC’s technical assessment concludes that the endorsement of both IFRS S1 and IFRS S2 for the creation of UK Sustainability Reporting Standards meet the endorsement criteria. The TAC is of the opinion that:
- the endorsement of IFRS S1, including the proposed amendments, would be conducive to the long-term public good in the UK; and
- the endorsement of IFRS S2, including the proposed amendments, would be conducive to the long-term public good in the UK.
| Name | Commission letter from the Minister of State for Enterprise, Markets and Small Business |
|---|---|
| Publication date | 21 May 2024 |
| Type | Letter |
| Format | PDF, 98.1 KB |
| Name | Context letter from the Department for Business and Trade |
|---|---|
| Publication date | 21 May 2024 |
| Type | Letter |
| Format | PDF, 183.7 KB |
| Name | UK Endorsement of IFRS S1 and IFRS S2: Technical assessment and endorsement recommendations |
|---|---|
| Publication date | 18 December 2024 |
| Type | Report |
| Format | PDF, 828.9 KB |
This project commenced on the 31 May 2024. Meeting agendas, technical papers and summary notes are available to view on the UK Sustainability Disclosure TAC Meetings and Summaries page.
Project plan
The project plan was discussed by the UK Sustainability Disclosure TAC on the 31 May 2024.
Work plan
The project plan was discussed by the UK Sustainability Disclosure TAC on the 31 May 2024.
Call for evidence
In July 2023 the Secretariat to the UK Sustainability Disclosure TAC published a call for evidence to seek UK views on the IFRS Sustainability Disclosure Standards (IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures) as issued by ISSB and their prospective use in the UK.
The closing date for responses was 11 October 2023. Unless confidentiality was expressly requested by the respondent, all responses are published on the FRC website.