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The UK government’s consultation on mandatory TCFD disclosures - Hymans Robertson
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Newsflash
The UK government’s consultation on mandatory TCFD disclosures
28 Apr 2021
by
Jamie Freeman
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
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