UK to endorse IFRS Sustainability Disclosure Standards (SDS) and to issue UK SDS based on IFRS SDS
UK to endorse IFRS Sustainability Disclosure Standards (SDS) and to issue UK SDS based on IFRS SDS
The Department for Business and Trade, UK will consider endorsing the IFRS Sustainability Disclosure Standards (SDS) to create UK SDS by July 2024, forming the basis for any future sustainability reporting legislation or regulation. Decisions to require disclosure will be taken independently by the UK government, for UK registered companies and limited liability partnerships, and by the Financial Conduct Authority (FCA) for UK listed companies. As per the press release by the Department for Business and Trade, UK endorsed standards will only divert from the global baseline if absolutely necessary for UK specific matters.
The press release may be accessed here.
The press release may be accessed here.