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| 1 minute read

ESG reporting consultations to watch in the UK

Sustainability reporting and disclosure frameworks have continued to evolve in 2023 and will develop further in 2024. In June, the International Sustainability Standards Board (ISSB) issued their final set of sustainability-related disclosure standards. The Taskforce on Nature-related Financial Disclosures (TNFD) adopted their final recommendations in September, and the UK’s Transition Plan Taskforce (TPT) issued their final disclosure framework in October. Further sector-specific standards are to follow. 

In the meantime, as countries around the world, including the UK, think about how best to integrate these various initiatives into domestic law, businesses can help shape outcomes by engaging with relevant consultations and discussions. At the same time, this can help them better understand what’s coming and adapt as needed.

Implementing these changes is not always straightforward. It’s still to be determined how the ISSB standards will interact in practice with the European Union’s European Sustainability Reporting Standards (ESRS) for example, as well as how the ISSB’s Scope 3 reporting requirements will be implemented in national legislation. Indeed, the UK is consulting on whether to include Scope 3 reporting at all. It also remains to be seen how the UK TPT’s transition plan disclosure framework will inform other countries’ approaches to transition plan reporting, and when and how the TNFD will be adopted. 

There are still opportunities to engage for businesses that have not yet done so. Below is a short list of some of the key ongoing and upcoming calls for evidence and consultations in the UK.

UK government call for evidence on ISSB’s scope 3 reporting standards

Closes 14 December 2023

TPT consultation on sector specific guidance 

Closes 29 December 2023

FCA consultation on anti-greenwashing rule guidance

Closes 26 January 2024

TNFD consultation on sector-specific guidance

Closes 29 March 2024

UK government consultation on transition plans disclosures for large companies
By 31 December 2023
UK government consultation on green taxonomy (recently delayed) 
By 31 March 2024
FCA consultation on aligning listed companies’ TCFD disclosures with ISSB standards
By 30 June 2024
FCA consultation on listed companies’ transition plan disclosures 
By 30 June 2024












reporting, decarbonisation