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Pinsent Masons says it published an update on UK sustainability reporting standards
Pinsent Masons said in an Out-Law update that the Financial Conduct Authority finalized UK sustainability reporting standards applying a comply-or-explain approach to both climate and other sustainability disclosures. Pinsent Masons lawyers Hayden Morgan and Dinesh Banani said UK-listed issuers still have a lot of work to do to prepare for the regime’s broader scope.
Key points
- Pinsent Masons said the standards apply to accounting periods beginning January 1, 2027, with initial reporting in 2028.Pinsent Masons
- The firm said first-year relief is available for Scope 3 emissions information.Pinsent Masons
- Pinsent Masons said non-climate disclosures receive two years of temporary relief.Pinsent Masons
- The firm said companies should review governance, materiality assessments, controls and data assurance.Pinsent Masons