The Chartered Institute of Management Accountants (CIMA) has announced its support for the UK Sustainability Reporting Standards (UK SRS), describing them as a “significant step” to enhance transparency, accountability and trust in sustainability reporting.
The UK SRS, finalised by the UK Government on 25 February, aim to give investors consistent, comparable and high-quality information on a company’s sustainability risks and opportunities.
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They are based on the International Financial Reporting Standards (IFRS) S1 and S2.
These have been designed to be interoperable with the European Sustainability Reporting Standards (ESRS), with the aim of enabling multinational companies to align their sustainability reporting across different regions and reduce duplication in disclosure requirements.
IFRS S1 defines the broad principles and overall requirements for sustainability-related financial reporting. It aims to help organisations present information on sustainability risks and opportunities in a way that is consistent and comparable for investors.
IFRS S2 addresses climate-specific disclosures and is meant to be applied alongside IFRS S1. It fully incorporates the recommendations of the Task Force on Climate-related Financial Disclosures.
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By GlobalDataCIMA Global Sustainability head Jeremy Osborn said: “These standards give business a robust framework to produce meaningful sustainability data that investors can trust.
“They raise the bar on transparency and data quality, ultimately driving more confident and informed decision-making for investors, whilst creating greater value for business by helping them refine their goals and planning, and ensuring they are well positioned to meet their sustainability targets.”
The UK’s Financial Conduct Authority is consulting on proposals to integrate the UK SRS into its listing rules. The consultation period runs until 20 March 2026.
