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The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 20211 (the “Draft Regulations)

United Kingdom Forthcoming 2021

The UK Government has confirmed that large UK-registered companies will have to disclose climate-related financial data from April 2022. This makes the UK the first G20 country to enshrine the mandate into law, subject to Parliament approval. From 6 April 2022, more than 1,300 of the largest UK-registered companies and financial institutions will have to disclose climate-related financial information on a mandatory basis – in line with the TCFD. On 29 October 2021, the UK government introduced The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 20211 (the “Draft Regulations”), which would, once in force, amend the Companies Act of 2006.

Issuer name

Department for Business, Energy and Industrial Strategy (BEIS)

Government ministry

Business/Trade/Industry

More information

From 24 March to 5 May 2021, the Department for Business, Energy and Industrial Strategy (BEIS) consulted on proposals to introduce mandatory climate-related financial disclosures by publicly quoted companies, large private companies and LLPs. The consultation sought views on the scope of requirements, the depth of requirements, the appropriate guidance, and an appropriate monitoring and enforcement regime.

Organizations covered by the instrument

Large private and listed companies

Industry scope

All/none specified

Status

Forthcoming

Country

United Kingdom

Region

Europe

Date of publication

2021

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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