Following the adoption of the European Sustainability Reporting Standards (ESRS) by the European Union, the UK is not far behind and announces the creation of its Sustainability Disclosure Standards (SDS) by July 2024. 


The Department for Business and Commerce (DBT) explains that the foundation of any future requirements in UK sustainability reporting legislation or regulation will be built on those new standards.


The DBT specified that it will base the English Sustainability Disclosure Standards (SDS) on the International Financial Reporting Standards (IFRS) developed by the International Sustainability Standards Board (ISSB), to ensure that UK companies' sustainability disclosures are globally comparable and user-friendly for investors. deviating from the global reference only if strictly necessary for specific matters that apply to the United Kingdom.

The Sustainability Disclosure Standards (SDS) will establish corporate disclosures about sustainability-related risks and opportunities faced by businesses, including risks and opportunities arising from climate change.


To assist with the approval of global standards and the creation of the SDS, the UK Government has set up two committees: the UK Sustainability Disclosure Technical Advisory Committee and the UK Sustainability Disclosure Policy (UK Sustainability Disclosure Policy and Implementation Committee).


The first committee is currently holding a consultation on the implementation of the ISSB standards in the UK, open for comments until October 11th.

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