Industry insight
The United Kingdom (UK) government has finalized its domestic sustainability reporting standards — the UK Sustainability Reporting Standards (UK SRS) — based on the global baseline set by the International Sustainability Standards Board (ISSB) with the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards.
The Financial Conduct Authority (FCA) now mandates reporting against the UK SRS on a "comply or explain" basis for accounting periods starting on or after January 2027 — with first reporting in 2028 — for issuers in these categories under the UK Listing Rules (UKLR):
- Equity shares (commercial companies) (UKLR 6)
- Equity shares (international commercial companies secondary listing) (UKLR 14)
- Certificates representing certain securities (depositary receipts) (UKLR 15)
- Non-equity shares and non-voting equity shares (UKLR 16)
- Equity shares (transition) (UKLR 22)
Consider it an upgrade. Climate reporting isn't new for the UK; the UK SRS replace the existing Task Force on Climate-related Financial Disclosures (TCFD) requirement.
Looking for more insight? Workiva has Industry Principals dedicated to gathering and sharing Sustainability & Carbon knowledge and expertise! For more insight, follow them — Alyssa Zucker for Carbon, Esther Toth for EMEA & APAC, and Mark Mellen for North America & APAC — on LinkedIn.
What's next
Depending on your locale and subscription, you may soon be able to include the UK Sustainability Reporting Standards in Sustainability Explorer.
With this content enabled, you can:
- Browse and bookmark Standards and disclosure requirements for your sustainability reporting.
- Align content with metrics in Sustainability Program to help enable data collection for disclosures.
- Download the full Standards as issued by the UK government as portable document files (PDFs)
In addition, if your Sustainability Reporting workspace includes the UK SRS:
- You'll be able to supplement your workspace with templates to help assess the materiality of UK SRS topics and resolve gaps in your data collection for their disclosures, like for IFRS Sustainability Disclosure Standards.
- If your workspace also has Workiva AI enabled, you'll be able to add a knowledge base or use Sustainability Disclosure Agent to help prepare disclosures for UK SRS, like for IFRS Sustainability Disclosure Standards.
Canadian Sustainability Disclosure Standards too! Depending on your locale and subscription, you may be able to similarly explore the Canadian Sustainability Disclosure Standards (CSDS) and use supplemental assessment templates to prepare CSDS-ready reporting.
Want to stay current? Follow What's new in Sustainability Reporting and What's new in Carbon!
On the calendar
October 20: Join Ask Me Anything: ESRS & ISSB Intelligence and Sustainability Disclosure Agent to hear from product and sustainability experts as they discuss how Workiva AI's knowledge bases and Sustainability Disclosure Agent can help you prepare reporting for the European Sustainability Reporting Standards and IFRS Sustainability Disclosure Standards.
November 5: Attend Accelerate Vancouver to discuss how sustainability leaders, Workiva customers, and partners tackle business challenges and drive transformation at their organizations, and get a look at the latest Workiva Platform capabilities, product roadmap, and live demonstrations.
Share your thoughts
The Workiva Community provides opportunities to engage with and learn from subject-matter experts (SMEs), advisory partners, and other sustainability reporters. Join the conversation in these threads:
- Community Connect: Sustainability, to learn from industry professionals and peers as you collaborate and share insights, challenges, and solutions.
- Sustainability Management, to discuss best practices and experiences with sustainability reporting — in general and within the Workiva Platform — including:
- What's new in Sustainability, to learn the latest enhancements of Sustainability Reporting features, including new Spreadsheet templates in Workiva Marketplace for SB253 disclosures
- Sustainability Feedback, to share and support ideas on how to improve Sustainability Management features
- Beverage Breaks, to learn directly from SMEs, partners, and other experienced sustainability reporters — such as recent enhancements for the revised ESRS
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