Mandatory climate disclosures come into force

Over 1,300 of the largest UK-registered companies and financial institutions now have to disclose climate-related financial information on a mandatory basis. This will include many of the UK’s largest traded companies, banks and insurers, as well as private companies with over 500 employees and £500m in turnover.

The UK is the first G20 country to adopt such a policy, and all large companies will now need to report in line with Taskforce on Climate-related Financial Disclosures (TCFD) recommendations.

The introduction of the reporting measures follows last year’s publication of the UK’s Net Zero Strategy and forms part of the Government’s commitment to making the UK financial system the "greenest in the world".

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