UK SRS
UK SRS S1 and S2, and what the FCA has proposed
The Department for Business and Trade published UK SRS S1 and S2 on 25 February 2026 — the UK-endorsed versions of IFRS S1 and S2, with UK amendments. They are voluntary today. The FCA is consulting on requiring S2 for in-scope listed companies from 1 January 2027, with a policy statement expected in autumn 2026, and has proposed S1 on a comply-or-explain basis from 2029.
Who this affects
Is this you?
- UK listed companies likely to fall in scope of the FCA’s proposals
- Companies already reporting under IFRS S1 and S2 who need the UK versions
- Private companies preparing ahead of any future requirement
- Published by
- Department for Business and Trade
- Current edition
- 2026
Key dates
June 2023
IFRS S1 and S2 issued by the ISSB
The global baseline for sustainability-related financial disclosure. S2 fully incorporates the TCFD recommendations.
25 February 2026
UK SRS S1 and S2 published
The UK endorsement of IFRS S1 and S2, with UK-specific amendments, published by the Department for Business and Trade. Voluntary on publication.
Autumn 2026
FCA policy statement expected
The FCA has been consulting on whether to require UK SRS S2 for in-scope listed companies. The outcome is expected this autumn.
1 January 2027
Proposed start for mandatory S2
The proposed commencement for in-scope listed companies, subject to the FCA’s final policy.
2029
Proposed comply-or-explain for S1
S1 has been proposed on a comply-or-explain basis from 2029, again subject to the final policy.
Detail
What this means in practice
The UK now has its own endorsed standards
Until February 2026 a UK company reporting on sustainability was working from the ISSB’s IFRS S1 and S2 directly, or from TCFD. UK SRS S1 and S2 are the UK-endorsed versions, with amendments made during endorsement.
Voluntary, for now
Publication did not create an obligation. What creates one is the FCA’s rulebook for listed companies, and that is still at policy stage. Anyone telling you UK SRS is mandatory today is wrong.
No thresholds have been set for private companies
There is a good deal of speculation about which private companies will eventually be caught and at what size. No statutory size thresholds have been set. We will not guess at them here, and you should be wary of anyone who does.
TCFD sits inside S2
The TCFD task force wound up in October 2023 and its recommendations are carried forward inside IFRS S2 and therefore UK SRS S2. Reporting regimes and contracts still ask for TCFD-aligned disclosure by name, which is why it remains worth tracking separately.
With KinopiQ
Tracking UK SRS readiness
- Holds UK SRS S1 and S2 alongside IFRS S1 and S2 and TCFD, so you can see how they relate
- Records your disclosure against each requirement, with the evidence behind it
- Carries the proposed dates so a voluntary standard does not become an urgent one unnoticed
- Links the same evidence against B Corp or GRI requirements where it also serves those
What KinopiQ does not do
KinopiQ tracks what the standards ask and what you have answered. It does not give regulatory advice, does not tell you whether you are in scope of the FCA’s proposals, and does not file anything. Whether a requirement applies to your company as a matter of law is a question for your advisers.
- Is UK SRS mandatory?
- Not at present. UK SRS S1 and S2 were published by the Department for Business and Trade on 25 February 2026 and are voluntary. The FCA has been consulting on requiring S2 for in-scope listed companies from 1 January 2027, with a policy statement expected in autumn 2026, and has proposed S1 on a comply-or-explain basis from 2029. No statutory size thresholds have been set for private companies.
- What is the difference between UK SRS and IFRS S1 and S2?
- UK SRS S1 and S2 are the UK-endorsed versions of the ISSB’s IFRS S1 and S2, with amendments made during the UK endorsement process. IFRS S1 and S2 are the global baseline and are binding only where a jurisdiction adopts them; UK SRS is that adoption for the UK.
- Does UK SRS replace TCFD?
- In substance, yes — the TCFD task force wound up in October 2023 and its recommendations are carried inside IFRS S2 and therefore UK SRS S2. In practice TCFD is still referenced by name in reporting regimes and contracts, so it is worth tracking as a named framework even though it is superseded.
Working toward UK SRS?
Tell us which standards you are answering to and we will set you up with your own workspace.