In late March, the UK government issued a consultation on proposals to make climate-related financial disclosures mandatory for many large companies.

The proposal requires in-scope companies to prepare disclosures in line with the Taskforce on Climate-related Financial Disclosures (‘TCFD’) recommendations. The consultation closes on 5 May 2021, with final regulations expected to come into force on 6 April 2022. 

This consultation builds on FCA PS 20/17, which made TCFD disclosures mandatory for companies with a UK premium listing by 2022. Ahead of this, PRA SS 3/19’s requirements for banks and insurers included an expectation that firms consider engaging with the TCFD framework when developing their approach to climate-related financial disclosures.

Read the full newsflash to find out:

• Who is in the scope for the consultation?
• What is the TCFD and what does it recommend?
• The proposed disclosure requirements
• What next?
• How Hymans Robertson can support you

Download the full newsflash