Warning

The content on this page has been converted from PDF to HTML format using an artificial intelligence (AI) tool as part of our ongoing efforts to improve accessibility and usability of our publications. Note:

  • No human verification has been conducted of the converted content.
  • While we strive for accuracy errors or omissions may exist.
  • This content is provided for informational purposes only and should not be relied upon as a definitive or authoritative source.
  • For the official and verified version of the publication, refer to the original PDF document.

If you identify any inaccuracies or have concerns about the content, please contact us at [email protected].

TAC Due Process Policy

The Financial Reporting Council provides the secretariat to the UK Sustainability Disclosure Technical Advisory Committee (TAC). For more information on the FRC's role as secretariat, please see this page.

The Financial Reporting Council Limited is a company limited by guarantee. Registered in England number 2486368. Registered office: as below. Please see the FRC's privacy page if you would like to know more about how the FRC processes personal data in its role as the secretariat for the TAC, or if you would like to stop receiving FRC news, events, outreach or research related communications.

The FRC does not accept any liability to any party for any loss, damage or costs howsoever arising, whether directly or indirectly, whether in contract, tort or otherwise from any action or decision taken (or not taken) as a result of any person relying on or otherwise using this document or arising from any omission from it.

© The Financial Reporting Council Limited 2025

The Financial Reporting Council Limited is a company limited by guarantee. Registered in England number 2486368. Registered Office: 13th Floor, 1 Harbour Exchange Square, London, E14 9SR

Contents

1. General requirements

1.1 Overview

1The Framework and Terms of Reference for the Development of UK Sustainability Reporting Standards (Framework) published by the Department for Business and Trade (DBT) on 16 May 2024 states that the Secretary of State for Business and Trade (Secretary of State) is responsible for endorsing IFRS Sustainability Disclosure Standards to create UK Sustainability Reporting Standards. When making endorsement decisions, the Secretary of State is supported by recommendations and advice from the UK Sustainability Disclosure Technical Advisory Committee (TAC) and DBT. The Framework also states that the TAC Secretariat is provided by the Financial Reporting Council (FRC) and that a UK Sustainability Disclosure Policy and Implementation Committee (PIC) is responsible for co-ordinating implementation decisions taken by DBT and the Financial Conduct Authority (FCA). Further information about the Framework, including the roles of the TAC and the PIC, is available at UK Sustainability Reporting Standards - GOV.UK.

2Section B of the Framework provides a Terms of Reference (ToR) for the TAC. The TAC's ToR cover the TAC's function and remit, details regarding its membership, the provision of its secretariat, requirements for its technical endorsement recommendations and details regarding the organisation and conduct of its meetings1.

3The TAC's Due Process Policy expands on the requirements in the TAC's ToR, with a particular focus on the TAC's technical activities, including its influencing activities, the development of its comment letters for submission to the ISSB or other consultative bodies and the development of its endorsement recommendations and advice.

4The TAC is required to determine its Due Process Policy within 12 months following the approval of its ToR2. The TAC will then review its Due Process Policy every five years or more frequently if there have been changes to the Framework, particularly the TAC's ToR, or any other developments which may impact the Policy. The TAC's Due Process Policy and any revisions to it will be approved in a public TAC meeting.

5The TAC's Due Process Policy must be considered alongside its ToR, with precedence given to the TAC's ToR.

6General references in this document to the 'TAC' could encompass the TAC Chair, TAC Members and/or the FRC as TAC Secretariat. However, where necessary, specific references are made.

1.2 Guiding principles

7The TAC's Due Process Policy is an overarching policy with the due process designed to be applied on a case-by-case basis so as to be adaptable and proportionate. The due process has four underlying principles: transparency; providing a focal point for UK stakeholders; accountability; and assessing the long-term public good in the UK.

1.2.1 Transparency

8The TAC conducts its key technical discussions in public. Public records of discussions provide clear evidence behind decisions and stakeholders can see how and why decisions are made.

1.2.2 Providing a focal point for UK stakeholders

9The TAC undertakes outreach with UK stakeholders when appropriate and considers their perspectives when undertaking its technical activities.

1.2.3 Accountability

10When discussions are on the public record, it is clear who contributed what, and how conclusions were reached. The TAC in its papers explains the rationale for its key technical decisions, views, recommendations and advice.

1.2.4 Assessing the long-term public good in the UK

11The TAC applies the criteria for its technical analysis in paragraphs 2 to 5 of the TAC's ToR3 (refer to Appendix 2 Criteria for the TAC's technical analysis) to the development of its endorsement recommendations and, to the extent applicable, its other technical activities.

1.2.5 Application of principles

12These principles are embedded throughout the TAC's Due Process Policy, for example:

  1. The principles of ‘Transparency' and 'Accountability' are reflected in the requirements around the TAC's membership and conduct of meetings in Section 1.3 Governance requirements. These principles are also reflected in the requirements in Sections 3 Development of comment letters and 4 Development of endorsement recommendations and advice around preparing and approving project documents, such as project management plans and stakeholder feedback summaries.
  2. The principle of ‘Providing a focal point for UK stakeholders' is a particular focus of Section 2 Influencing activities, and, as is noted in Section 2, outreach with UK stakeholders will inform the TAC's influencing and other technical activities. Stakeholder outreach also features in Sections 3 and 4 in the development of the TAC's comment letters, endorsement recommendations and advice.
  3. The criteria referenced in the principle of ‘Assessing the long-term public good in the UK' are used to assess whether the endorsement of a new IFRS Sustainability Disclosure Standard would be conducive to the long-term public good in the UK.

1.3 Governance requirements

13The TAC's ToR provide further information on the TAC's governance requirements, including the roles and responsibilities of the TAC Chair, TAC Members and the FRC as TAC Secretariat4.

1.3.1 Membership

14The TAC's ToR require the TAC to have between 11 and 15 members, including the TAC Chair, each of whom will be an expert in a particular stakeholder category5. TAC Members are appointed in their personal capacities by the Secretary of State, except for members appointed by the FRC and the UK Endorsement Board (UKEB), who represent the views of their respective organisations. There are observers with speaking rights from the Bank of England (BoE), DBT and the FCA6. Further observers with speaking rights may attend TAC meetings at the discretion of the TAC Chair7.

15TAC Members must declare any relevant conflicts of interest to the TAC Chair, the Secretary of State and the FRC8. TAC Members must also declare any interests in agenda items in TAC meetings and these should be included in any summary notes of the meetings.

1.3.2 Organisation and conduct of meetings

16The TAC's key meeting requirements are:

  1. The TAC's ToR require a minimum of 11 members appointed for the TAC to hold meetings and the quorum for TAC meetings is two thirds of appointed members to be present in person or virtually9.
  2. TAC meetings should be scheduled at least 10 working days in advance, except in exceptional circumstances as determined by the TAC Chair10.
  3. If the TAC Chair is unexpectedly unable to attend a TAC meeting, and it is not possible to rearrange the meeting, the Chair must nominate a TAC Member to chair the meeting11.
  4. TAC meetings will be held in person when possible, with virtual attendance permitted. TAC meetings may be held virtually when an appropriate venue is not available.12 The TAC Chair must explain the reasons for holding a meeting virtually in the meeting and the explanation should be included in any summary note of the meeting.
  5. TAC meetings are generally expected to be held on a monthly basis but the frequency may vary depending on the TAC's workplan13.
  6. TAC meetings should be held in public – available for live viewing online – and recordings of these meetings should be made available on the FRC's website within five working days. However, at the discretion of the TAC Chair, the TAC may hold certain discussions in private, or in the presence of invited observers with speaking rights, when discussion involves confidential or administrative matters.14 This includes education sessions. The TAC Chair must explain the reasons for holding any discussions in private in the meeting and the explanation should be included in any summary note of the meeting.
  7. If technical exchanges take place in private, for example, when reviewing comment letters, endorsement recommendations or advice, substantive comments should be presented in public. Additionally, a document can be approved in a TAC meeting, subject to final comments, with the TAC Chair delegated to resolve any resulting edits. Once approved, the document can then undergo final proofreading and formatting work as required to finalise it.
  8. Agendas and papers for public meetings must be published on the FRC's website prior to the meeting15 and should be circulated to TAC Members at least five working days prior to the meeting, except in exceptional circumstances as determined by the TAC Chair16.
  9. The summary note of public meetings must be published on the FRC's website no more than 10 working days after the meeting. The summary note should include an overview of matters discussed, key points raised, key decisions and next steps. The summary note must be approved by the TAC Chair.17

2. Influencing activities

17The TAC's ToR state that the TAC has responsibility to undertake outreach with, and provide a focal point for, UK stakeholders to influence the technical development of IFRS Sustainability Disclosure Standards18. This includes the way the International Sustainability Standards Board (ISSB) develops its future standards and the ISSB's choices to amend or produce guidance on existing standards. Activities will be proactive, as well as reactive, and include the conveyance of UK stakeholder views to the ISSB.

18The TAC, and the FRC as TAC Secretariat, influence the technical development of IFRS Sustainability Disclosure Standards by:

  1. Engaging with the ISSB, including by meeting with ISSB staff and board members and contributing to IFRS Sustainability projects; and
  2. Participating in key fora.

19The TAC's influencing activities include project-specific activities in relation to the development of comment letters for submission to the ISSB or other consultative bodies. The due process for such activities is covered in Section 3.

20The TAC's ToR further state that this influencing will be conducted alongside UK government, UK regulators and UK standard setters where interests overlap. As noted in Section 1.3.1 Membership, the TAC's membership includes FRC and UKEB members, who represent the views of their respective organisations, and observers with speaking rights from the BoE, DBT and the FCA. This supports connectivity and coordination between these bodies.

21When the TAC meets in private with the ISSB, a summary of matters covered should be presented in public.

22The TAC also conducts monitoring activities to remain aware of developments relating to sustainability reporting. This includes reviewing, discussing if appropriate and noting a General Reporting Update prepared for TAC meetings and published on the FRC website.

23The TAC, and the FRC as TAC Secretariat, undertake outreach with, and provide a focal point for, UK stakeholders19, by:

  1. Using surveys, public consultations (including invitations to comment and calls for evidence), and roundtables to elicit stakeholder views;
  2. Making targeted approaches to stakeholders; and
  3. Forming working groups of experts to support its work on specific projects (the TAC Chair approves the formation of such groups, which meet in private and report to the FRC as TAC Secretariat).

24Such outreach informs the TAC's influencing activities. When the TAC, and the FRC as TAC Secretariat, engage with these stakeholders, their perspectives inform the TAC's technical activities.

2.1 Research projects

25The TAC undertakes research activities in the development of its comment letters, endorsement recommendations and advice, as noted in Sections 3 and 4. The TAC may also undertake research projects, for example on new and emerging areas or on established market practices. The TAC considers the due process tasks set out in paragraphs 27 to 40 on a case-by-case basis based on the specific research project and provides a rationale for its decisions about which tasks to follow in undertaking its research. Such research may be shared with the ISSB as an influencing activity.

3. Development of comment letters

26The TAC develops comment letters for submission to the ISSB or other consultative bodies.

27Such projects consist of the following stages:

  1. Project initiation;
  2. Project delivery, including performing technical analysis; and
  3. Project closure.

28At each stage of the project, technical papers are prepared and discussed in TAC meetings and the TAC's decisions are recorded in summaries of those meetings. The papers and summaries are published on the FRC website.20

3.1 Project initiation

29This stage of the project has the following due process tasks:

TAC's ToR paragraph Status Due process tasks
N/A Expected A project management plan, including target timeline, is prepared and approved by the TAC. The project management plan is published on the FRC website.

3.1.1 Project management plan, including target timeline

30Although not required by the TAC's ToR, the TAC would usually publish a project management plan, including target timeline, for its work developing a comment letter. The project management plan summarises key steps and includes an analysis of assumptions, constraints and risks, and the target date for project delivery. It also provides a rationale for the TAC's decisions about whether to undertake and, if so, the format of a public consultation, refer also to paragraphs 32 and 34.

3.2 Project delivery, including performing technical analysis

31This stage of the project has the following due process tasks:

TAC's ToR paragraph Status Due process tasks
Stakeholder outreach and research activities
6 Expected The TAC, and FRC as TAC Secretariat, undertake outreach with UK stakeholders.
N/A Optional A draft comment letter with an invitation to comment is prepared, approved by the TAC and published on the FRC website.
N/A Optional Research activities are reviewed and noted by the TAC.
Finalisation and delivery
N/A Mandatory A final comment letter is prepared and approved by the TAC.
N/A Mandatory The final comment letter is submitted to the ISSB or other consultative body and published on the FRC website.
N/A Expected if a draft comment letter has been published A stakeholder feedback summary is prepared and approved by the TAC. The stakeholder feedback summary is published on the FRC website.

3.2.1 Draft comment letter and invitation to comment

32Although not required by the TAC's ToR, the TAC could publish a draft comment letter with an invitation to comment. The rationale for the TAC's decision should be included in the project management plan and could include factors such as the topic and scope of the project and the extent of other stakeholder outreach and research activities.

33If publishing a draft comment letter, the draft comment letter is tabled for approval in a public TAC meeting.

34The usual consultation period for a draft comment letter is 4 weeks and consultation responses are published on the FRC website unless confidentiality is requested by the respondent. The rationale for any TAC decision to vary the usual consultation period, for example to meet the external comment letter deadline that the TAC is working to, should be included in the project management plan.

3.2.2 Stakeholder feedback summary

35Although not required by the TAC's ToR, if the TAC publishes a draft comment letter, the TAC would usually publish a stakeholder feedback summary.

36The summary of the stakeholder feedback gathered, and consequent changes made to the comment letter, is tabled for approval in a public TAC meeting.

3.3 Project closure

37This stage of the project has the following due process tasks:

TAC's ToR paragraph Status Due process tasks
N/A Expected A due process summary is prepared and approved by the TAC. The due process summary is published on the FRC website.
N/A Optional A lessons learnt exercise is performed by the TAC.

3.3.1 Due process summary

38Although not required by the TAC's ToR, the TAC would usually publish a due process summary for its work developing a comment letter. The due process summary includes a conclusion on whether the development of the comment letter complied with the TAC's Due Process Policy, along with an explanation of any noncompliance.

39A draft due process summary is tabled alongside the TAC's comment letter for tentative approval in a public TAC meeting. Following the submission of the comment letter to the ISSB or other consultative body, the final due process summary is tabled for approval in the next public TAC meeting.

3.3.2 Lessons learnt exercise

40The TAC will if deemed appropriate perform a lessons learnt exercise in private on each project to develop comment letters on a case-by-case basis.

4. Development of endorsement recommendations and advice

41The TAC's ToR state that the TAC conducts a rigorous technical analysis of a new IFRS Sustainability Disclosure Standard and provides recommendations to the Secretary of State on whether the endorsement of the new IFRS Sustainability Disclosure Standard would be conducive to the long-term public good in the UK21. The criteria for the TAC's technical analysis are in paragraphs 2 to 5 of the TAC's ToR (refer to Appendix 2). Paragraph 3 of the TAC's ToR covers matters related to the UK's economic growth and international competitiveness, the costs and benefits of compliance and coherency with, and suitability for inclusion in, UK domestic legislation and regulation. DBT is responsible for advising the Secretary of State on these matters. The TAC may provide advice on these matters but is not required to.

42The TAC's ToR also state that the TAC may be commissioned by DBT to provide further advice on the IFRS Sustainability Disclosure Standard or to support implementation decisions being taken by DBT or the FCA in relation to a UK Sustainability Reporting Standard22. Such commissions could include work on amendments to the IFRS Sustainability Disclosure Standard and/or the UK Sustainability Reporting Standard.

43Projects to develop endorsement recommendations and advice consist of the following stages:

  1. Project initiation;
  2. Project delivery, including performing technical analysis; and
  3. Project closure.

44At each stage of the project, technical papers are prepared and discussed in TAC meetings and the TAC's decisions are recorded in summaries of those meetings. The papers and summaries are published on the FRC website.23

45The due process tasks set out in paragraphs 46 to 64 apply to the development of the TAC's endorsement recommendations. An adaptable due process applies to the development of the TAC's advice in relation to other commissions. This means the TAC will consider each of these due process tasks on a case-by-case basis based on the specific commission and provide a rationale for its decisions about which tasks to follow in developing its advice.

Any further commissions and advice are published on gov.uk and/or the FRC website unless provided to DBT in confidence by a third party24.

4.1 Project initiation

46This stage of the project has the following due process tasks:

TAC's ToR paragraph Status Due process tasks
8, 41 Mandatory A ministerial letter is sent from DBT to the TAC to commission it to initiate work developing endorsement recommendations for a new IFRS Sustainability Disclosure Standard. The letter is published on gov.uk and/or the FRC website.
N/A Expected A project management plan, including target timeline, is prepared and approved by the TAC. The project management plan is published on the FRC website.
N/A Expected A technical work plan is prepared and approved by the TAC. The technical work plan is published on the FRC website.
10, 11, 41 Mandatory The TAC has regard to any contextual information and target date provided by DBT. The contextual information and target date are published on gov.uk and/or the FRC website unless provided to DBT in confidence by a third party.

4.1.1 Project management plan, including target timeline

47Although not required by the TAC's ToR, the TAC would usually publish a project management plan, including target timeline, for its work developing endorsement recommendations. The project management plan summarises key steps and includes an analysis of assumptions, constraints and risks and the target date provided by DBT. It also provides a rationale for the TAC's decisions about whether to undertake and, if so, the format of a public consultation, refer to paragraphs 51 and 53.

4.1.2 Technical work plan

48Although not required by the TAC's ToR, the TAC would usually a publish a technical work plan for its work developing endorsement recommendations. The technical work plan includes the application of the assessment approach to the project (technical areas identified by conducting research and stakeholder outreach activities and initial assessment of those areas). The technical work plan also includes any contextual information provided by DBT.

49If a technical workplan is published, technical papers include detailed assessment of priority technical areas listed in the technical work plan.

4.2 Project delivery, including performing technical analysis

50This stage of the project has the following due process tasks:

TAC's ToR paragraph Status Due process tasks
Stakeholder outreach and research activities
9 Mandatory The TAC considers whether it is necessary to publish a call for evidence.
N/A Optional A call for evidence is prepared, approved by the TAC and published on the FRC website.
9 Mandatory The TAC conducts stakeholder outreach, including with companies and investors. It also conducts engagement with the ISSB, national standard setters and securities regulators, as necessary.
N/A Optional Research activities are reviewed and noted by the TAC.
Finalisation and delivery
25, 26, 28 Mandatory The TAC votes, in accordance with paragraph 54, on whether to propose an amendment to the IFRS Sustainability Disclosure Standard and on its endorsement recommendations in a public TAC meeting, as well as approving its report containing its endorsement recommendations.
27, 42 Mandatory The TAC's report containing its endorsement recommendations is provided to DBT and published on gov.uk and/or the FRC website.
N/A Expected if a call for evidence has been published A stakeholder feedback summary is prepared and approved by the TAC. The stakeholder feedback summary is published on the FRC website.

4.2.1 Call for evidence

51The TAC must consider whether it is necessary to publish a call for evidence following publication of a new IFRS Sustainability Disclosure Standard25. The rationale for the TAC's decision should be included in the project management plan and could include factors such as the topic and scope of the project and the extent of other stakeholder outreach and research activities.

52If publishing a call for evidence, the call for evidence is tabled for approval in a public TAC meeting.

53The usual consultation period for a call for evidence is 12 weeks and consultation responses are published on the FRC website unless confidentiality is requested by the respondent. The rationale for any TAC decision to vary the usual consultation period, for example to meet the deadline provided by DBT that the TAC is working to, should be included in the project management plan.

4.2.2 Voting and reporting

54The TAC must vote on whether to propose an amendment to the IFRS Sustainability Disclosure Standard and on its endorsement recommendations in a public TAC meeting, as well as approving its report containing its endorsement recommendations. The threshold for recommendations to endorse the IFRS Sustainability Disclosure Standard or to propose an amendment to the IFRS Sustainability Disclosure Standard is a simple majority of members present.

55When the TAC is unable to reach the threshold for recommendations to endorse the IFRS Sustainability Disclosure Standard, it should provide endorsement advice to DBT which sets out the differing views of TAC members.

56The TAC's report containing its endorsement recommendations must:

  1. set out the result of the final vote, and whether and why the proposed UK Sustainability Reporting Standard would be conducive to the long-term public good in the UK, including how the TAC has considered the endorsement criteria; and
  2. include reasons for any proposed amendments to the IFRS Sustainability Disclosure Standard.

57The TAC's technical assessment of the IFRS Sustainability Disclosure Standard records any differing views of TAC Members. TAC Members can express differing views on any proposed amendments to the IFRS Sustainability Disclosure Standard, but still vote to endorse the IFRS Sustainability Disclosure Standard.

58Any TAC Members who do not approve the TAC's report, and therefore dissent, must work with the TAC Secretariat to provide written explanations for why they dissent. Such explanations are appended to the TAC's report.

4.2.3 Stakeholder feedback summary

59Although not required by the TAC's ToR, if the TAC publishes a call for evidence, the TAC would usually publish a stakeholder feedback summary.

60The summary of the stakeholder feedback gathered, and consequent changes made to the endorsement recommendations, is tabled for approval in a public TAC meeting.

4.3 Project closure

61This stage of the project has the following due process tasks:

TAC's ToR paragraph Status Due process tasks
N/A Expected A due process summary is prepared and approved by the TAC. The due process summary is published on the FRC website.
N/A Optional A lessons learnt exercise is performed by the TAC.

4.3.1 Due process summary

62Although not required by the TAC's ToR, the TAC would usually publish a due process summary for its work developing endorsement recommendations. The due process summary includes a conclusion on whether the development of the endorsement recommendations complied with the TAC's Due Process Policy, along with an explanation of any noncompliance.

63A draft due process summary is tabled alongside the TAC's report containing its endorsement recommendations for tentative approval in the public TAC meeting. Following the provision of the report to DBT, the final due process summary is tabled for approval in the next public TAC meeting.

4.3.2 Lessons learnt exercise

64The TAC will if deemed appropriate perform a lessons learnt exercise in private on each project to develop endorsement recommendations on a case-by-case basis.

5. Compliance with Due Process Policy

65The TAC's ToR require the TAC to report on compliance with its Due Process Policy to DBT once in every calendar year26.

Appendix 1: Glossary

Term Definition
BoE Bank of England
DBT Department for Business and Trade
Framework Framework for the Development of UK Sustainability Reporting Standards published by DBT
FCA Financial Conduct Authority
FRC Financial Reporting Council
ISSB International Sustainability Standards Board
PIC UK Sustainability Disclosure Policy and Implementation Committee
Secretary of State Secretary of State for Business and Trade
TAC UK Sustainability Disclosure Technical Advisory Committee
TAC's ToR TAC's Terms of Reference
UKEB UK Endorsement Board

Appendix 2: Criteria for the TAC's technical analysis

Endorsement criteria27

66The TAC's ToR state that the TAC is to conduct a rigorous technical analysis of the IFRS Sustainability Disclosure Standards and provide well-reasoned, clear and evidence-based advice to the Secretary of State accordingly. In particular, the TAC's analysis should be used to provide a recommendation to the Secretary of State on whether the endorsement of a IFRS Sustainability Disclosure Standard would be conducive to the long-term public good in the UK, including whether:

  • Use of the IFRS Sustainability Disclosure Standard is likely to result in an improvement in the international comparability of sustainability-related reporting in the UK.
  • Use of the IFRS Sustainability Disclosure Standard is likely to support companies in making disclosures that are understandable, relevant, reliable and comparable.
  • Use of the IFRS Sustainability Disclosure Standard is likely to improve the quality of corporate reporting within the UK in the long-term.
  • Companies are likely to be able to provide the disclosures required by the IFRS Sustainability Disclosure Standard within the timeframes that a company normally reports without undue cost or effort.

67The TAC ToR state that the TAC may also provide recommendations on whether:

  • Use of the IFRS Sustainability Disclosure Standard is likely to be conducive to the UK's economic growth and international competitiveness, taking into account the costs and benefits of compliance.
  • The IFRS Sustainability Disclosure Standard is likely to be coherent with, and suitable for inclusion in, UK domestic legislation and regulation. Noting that other legislation, standards, regulations, metrics, guidance and initiatives provisions may be adapted to accommodate the standard.

However, DBT is responsible for advising the Secretary of State on these matters.

Criteria for amendments28

68The TAC's ToR state that the TAC may recommend whether, in light of its assessment, amendments are necessary before the IFRS Sustainability Disclosure Standard can be endorsed, or whether amendments to other legislative or regulatory provisions in the UK framework may be required. The TAC may propose amendments if:

  • Changes are considered necessary for the effective application of the IFRS Sustainability Disclosure Standard within a UK context.
  • There is a failure to amend a IFRS Sustainability Disclosure Standard and this would be of detriment to the long-term public good in the UK, taking into consideration the matters in paragraph 66.

69The TAC's ToR state that the TAC may also propose amendments to build upon the material provided within the global baseline provided by a IFRS Sustainability Disclosure Standard, upon request from DBT or where UK stakeholders raise a strong need.

Footnotes

  1. TAC's ToR paragraph 1. ↩

  2. TAC's ToR paragraph 43. ↩

  3. Paragraph 3 of the TAC's ToR covers matters related to the UK's economic growth and international competitiveness, the costs and benefits of compliance and coherency with, and suitability for inclusion in, UK domestic legislation and regulation. DBT is responsible for advising the Secretary of State on these matters. The TAC may provide advice on these matters but is not required to. ↩

  4. TAC's ToR paragraph 23 has further information on the roles and responsibilities of all TAC Members, paragraph 24 has further information on the roles and responsibilities of the TAC Chair and paragraphs 30 and 31 have further information on the provision of the TAC Secretariat by the FRC. ↩

  5. TAC's ToR paragraphs 14 to 22 have further information on the TAC's requirements relating to membership. ↩

  6. TAC's ToR paragraph 14. ↩

  7. TAC's ToR paragraphs 15 and 16. ↩

  8. TAC's ToR paragraph 14. ↩

  9. TAC's ToR paragraph 21. ↩

  10. TAC's ToR paragraph 15. ↩

  11. TAC's ToR paragraphs 32 to 40 have further information on the TAC's requirements relating to conduct of meetings. ↩

  12. TAC's ToR paragraph 32. ↩

  13. TAC's ToR paragraph 30. ↩

  14. TAC's ToR paragraph 33. ↩

  15. TAC's ToR paragraph 34. ↩

  16. TAC's ToR paragraph 35. ↩

  17. TAC's ToR paragraph 36. ↩

  18. TAC's ToR paragraphs 38 and 39. ↩

  19. TAC's ToR paragraph 30. ↩

  20. TAC's ToR paragraph 40. ↩

  21. TAC's ToR paragraph 6. ↩

  22. Such stakeholders include companies and investors. ↩

  23. TAC's ToR paragraphs 39 and 40. ↩

  24. TAC's ToR paragraph 2. ↩

  25. TAC's ToR paragraphs 7, 12, and 13. ↩

  26. TAC's ToR paragraphs 39 and 40. ↩

  27. TAC's ToR paragraph 9. ↩

  28. TAC's ToR paragraphs 41 and 42. ↩

File

Name TAC Due Process Policy
Publication date 02 June 2025
Type Policy
Format PDF, 354.4 KB
Download original
Back to top