Fiona Donnelly CA – Director of sustainability at ICAS

Fiona Donnelly CA, director of sustainability at ICAS, said: “The launch of this highly anticipated consultation on the UK Sustainability Reporting Standards (UK SRS) marks a profound and positive milestone in the development of the UK’s sustainability disclosure regime.

“As expected, the UK SRS are based on the IFRS Sustainability Disclosure Standards (IFRS S1 and S2) issued by the International Sustainability Standards Board (ISSB), which the UK Sustainability Disclosure Technical Advisory Committee recommended be endorsed for use in the UK.”

Ms Donnelly continued: “While we view the proposed UK SRS as endorsement of the global baseline for sustainability-related financial disclosures and a move in the right direction, ICAS will continue to call for the UK SRS to go further.

“More comprehensive and holistic reporting would be achieved by expanding these standards to systematically include reporting on the impact of organisations on the environment and society. This double materiality approach, long championed by ICAS, would better serve the needs of multiple stakeholders and support the long-term public interest.

“This position will shape our formal response to the consultation, and we’ll be surveying our members to seek their views. Now is the time to make your voice heard on an incredibly important topic that will directly impact the allocation of capital for years to come.

“We strongly encourage businesses and individuals alike to engage with the consultation process and grasp this chance to contribute meaningful feedback on the future of sustainability reporting in the UK.”

All three consultations will be open for 12 weeks to 17 September 2025.