A pointer to the disclosures, in the annual financial report or a report cross-referenced from it.
UK SRS report · the document
The UK SRS report: what it holds, part by part
From 2028, listed companies will publish reports against the UK Sustainability Reporting Standards or explain why they have not.
This site looks at that report as a document: what goes in it, where it sits, how it is assembled and how to read one.
The provisions behind each part are in UK SRS S1, UK SRS S2 and the FCA’s final rules.
Anatomy
Eight parts, in reading order
Scroll through the parts of a first UK SRS report as a reader would meet them.
Not every report has every part, and each step says when one is needed.
- UKLR 6.6.6R(8)(c)
Where the disclosures are
- S2 ¶¶5–7
Who oversees climate
The body or individual responsible, how they are informed and how climate enters their decisions.
- S2 ¶¶8–23
Risks, effects and resilience
The climate risks and opportunities, their financial effects, any transition plan, and resilience tested by scenarios.
- S2 ¶¶24–26
How risks are managed
How climate risks are identified, assessed, prioritised and monitored.
- S2 ¶¶27–37
Numbers and targets
Seven cross-industry metric categories, any industry metrics, and targets with progress.
- UK SRS S1
Other sustainability matters
Material non-climate risks and opportunities, unless the climate-first relief is being used.
- PS26/19 ¶3.20
Reliefs used
A statement that a transitional relief is being used, such as Scope 3 in the first period.
- UKLR 6.6.6R(7A)(b), (7B)(b)
What is not disclosed, and why
A summary of requirements or topics not covered, the reasons, and the steps planned.
Two more statements usually follow: whether the disclosures were assured, and, for UKLR 6, 16 and 22 companies, whether a transition plan has been published.
The report checklist lists every part with a tick box.
Document, not Standard
Why the report is bigger than the Standards
The Standards say what to disclose; they say nothing about explaining what is not disclosed.
The explanations and statements come from the listing rule, written into UKLR 6.6 from 1 January 2027.
A voluntary reporter, outside the FCA’s rules, has the Standards’ parts only.
One report, two authorities
When reading a listed company’s report, it helps to know which sentence answers the Standard and which answers the rule.
| Part | Comes from |
|---|---|
| Climate disclosures | UK SRS S2 |
| Other sustainability disclosures | UK SRS S1 |
| Statement of compliance | UK SRS S1 ¶72 |
| Explanations of gaps | FCA rule |
| Relief statements | FCA rule |
| Location, assurance, transition plan statements | FCA rule |
By the numbers
A first report in four figures
4
headings in the climate disclosures
UK SRS S2
7
cross-industry metric categories
UK SRS S2 ¶29
5
listing categories whose reports carry the FCA statements
PS26/19 ¶3.6
4 months
from year end to publication, at most
DTR 4.1.3R
Frequently asked
Questions people ask
What is a UK SRS report?
The sustainability-related financial disclosures a company makes under UK SRS S1 and UK SRS S2, together with any statements the FCA’s listing rules require around them.
For a listed company in scope it sits in, or is cross-referenced from, the annual financial report, for periods beginning on or after 1 January 2027.
Is a UK SRS report a separate document?
It does not have to be.
For listed companies the FCA rule places the disclosures in the annual financial report, and allows cross-reference to another report on the conditions UK SRS S1 sets in paragraphs B45 to B47.
A company states where the disclosures can be found.
What statements must a listed company’s UK SRS report include?
Beyond the disclosures or explanations themselves: where the disclosures are; whether third-party assurance was obtained and, if so, the details; any transitional relief used; and, for UKLR 6, 16 and 22 companies, whether a climate transition plan has been published and where, or why not.
When will the first UK SRS reports be published?
Mostly in 2028.
The first period the FCA rules reach is the first accounting period beginning on or after 1 January 2027, and the annual financial report must be public within four months of the year end.
Does a UK SRS report say it complies with UK SRS?
Only if it meets every requirement of a Standard; the Standards allow an explicit and unreserved statement of compliance and nothing less.
A company that explains a gap, or reports on climate alone under the climate-first relief, cannot claim compliance with the Standard concerned.
Sources
Primary sources
Every figure, date and status on this page traces to the instrument’s owner.
Secondary commentary is never the source for a number.
Checked against 12 sources fromDepartment for Business and TradeFinancial Conduct AuthorityFinancial Reporting CouncilTask Force on Climate-related Financial Disclosures
- Department for Business and TradeUK SRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (25 February 2026)
The general Standard, read at the paragraph.
- Department for Business and TradeUK SRS S2 Climate-related Disclosures (25 February 2026)
The climate Standard, including Appendix C on transition.
- Department for Business and TradeUK Sustainability Reporting Standards: UK SRS S1 and UK SRS S2 — publication page
Where both Standards were published on 25 February 2026.
- Department for Business and TradeUK Sustainability Reporting Standards — GOV.UK guidance
Describes the Standards as available for voluntary use by any entity.
- Financial Conduct AuthorityPS26/19: Aligning listed issuers’ sustainability disclosures with international standards (30 September 2026)
The final rules: comply or explain across UK SRS for UKLR 6, 14, 15, 16 and 22.
- Financial Conduct AuthorityPS26/19 — full text, including the made instrument (UKLR 6.6.6R(7A), (7B), (8) and UKLR TP 16)
Scope, timing, reliefs and the rule text itself.
- Financial Conduct AuthorityFCA Handbook, UKLR 6.6 — annual financial report (as from 1 January 2027)
The rule the new disclosure limbs sit in.
- Financial Conduct AuthorityFCA Handbook, DTR 4.1 — the annual financial report within four months
Sets when the report carrying the disclosures must be public.
- Financial Conduct AuthorityDraft Technical Note 803.1 (September 2026, for consultation)
Draft guidance on what an explanation should contain; comments by 28 October 2026.
- Department for Business and TradeConsultation response, Annex A — the tables of differences from IFRS S1 and S2
The authoritative list of UK departures; where a requirement is not in the table there is no difference.
- Financial Reporting CouncilISSA (UK) 5000 General Requirements for Sustainability Assurance Engagements
¶15 effective date; ¶¶190, 198L and 198R on the two levels of assurance.
- Task Force on Climate-related Financial DisclosuresRecommendations of the TCFD (June 2017)
The four-heading architecture both Standards keep.