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 Public Meeting October 2025: Meeting Summary
Date: 14 October 2025
Time: 09:30am – 12:38pm
Location: Financial Reporting Council, 13th Floor, 1 Harbour Exchange Square, London, E14 9GE
Attendance
| Name | Designation |
|---|---|
| Sally Duckworth | Chair |
| Craig Mackenzie | Member |
| David Harris | Member |
| Dia Desai | Member (online) |
| Harriet Cullum | Member |
| Jeremy Osborn | Member (online) |
| Madeleine Evans | Member |
| Nick Rowbottom | Member |
| Peter Hogarth | Member |
| Scott Barlow | Member |
| Supriya Sobti | Member |
| Jenny Carter | Member appointed by the Financial Reporting Council (FRC) |
| Paul Lee | Member appointed by the UK Endorsement Board (UKEB) |
| Michael Ashby | Observer from the Department for Business and Trade (DBT) |
| Laura Kennedy | Observer from the Bank of England (BoE) |
| Matilda Robinson | Observer from the Financial Conduct Authority (FCA) |
| Sarah-Jayne Dominic | Secretariat |
Apologies
| Name | Designation |
|---|---|
| Hilary Eastman | Member |
1. Welcome and apologies
The Chair welcomed all attendees to the October meeting of the UK Sustainability Disclosure Technical Advisory Committee (TAC). Apologies were received from Hilary Eastman.
No conflicts of interest relating to the agenda were declared.
2. General reporting update
The TAC considered Agenda Paper 2 which provided key updates since the September 2025 TAC meeting. This paper was for information purposes only and no decision was required.
The TAC was pleased to see that the amendments approved by the ISSB on IFRS S2 are aligned with the TAC's recommendations. Depending on when it is finalised, it is expected that the amended wording will be incorporated into UK SRS S2.
TAC members welcomed the announcement of the strategic relationship between GHG Protocol and ISO which will be monitored.
3. SASB consultation: Current SASB Standards reporting by UK companies
The TAC considered Agenda Paper 3 which presented findings from a review of selected UK registered and UK listed companies, operating within the nine priority industries, which utilise the SASB Standards for their sustainability reporting. This paper was for information purposes only and no decision was required.
The Secretariat clarified how it differentiated between companies actively using SASB Standards, and those merely referencing them. Usage was identified through explicit listing of SASB metrics in a SASB index and cross-referencing to detailed disclosures in annual or sustainability reports. The companies reviewed had utilised SASB Standards.
The TAC discussed:
- whether the concurrent use of multiple sustainability frameworks/standards by UK companies should influence the TAC's stance on the importance of interoperability in enhancing SASB Standards. Related to this, it was noted that the number of companies reviewed was too small to draw definitive conclusions on the actual practice of reporting.
- concerns about whether the SASB Standards encouraged a checkbox approach. For example, when companies report certain metrics as 'not applicable' this could be interpreted as fulfilling a checklist rather than focusing reporting on relevant topics identified by management.
- that some SASB Standards metrics seem to assume the reporting entity operates in a single jurisdictional context, with limited guidance on reconciling differences in metrics across jurisdictions.
- that some companies operating across multiple industries, and therefore multiple SASB Standards, selected one SASB Standard for reporting without explaining their rationale for selecting it, and it was not clear whether the metrics reported cover all business units or only those related to that industry.
- how the ISSB intends preparers to use the SASB Standards — whether as a checklist to report the topics and metrics identified therein, or to allow companies to make their own materiality judgements and then apply the topics and metrics that apply to them as supplementary information.
- recurring metrics across industries, raising a view on whether there is a case for developing industry-agnostic metrics.
- that investors consume sustainability information in varied ways:
- quantitative users (e.g., banks calculating financed emissions) benefit from standardised, checklist-style data.
- qualitative/judgemental users prefer narrative disclosures that explain how topics and disclosures were determined (materiality assessment).
Consequently, it was noted that a balanced approach by the ISSB would be needed to meet the needs of both user groups.
4. SASB consultation: comments on Exposure Draft Proposed Amendments to the SASB Standards
The TAC considered Agenda Paper 4 on the points to include in its response to the Exposure Draft Proposed Amendments to the SASB Standards (the SASB Exposure Draft).
The TAC decided to restructure the points in its response to the SASB Exposure Draft and begin with the point around the ISSB communicating the future architecture of IFRS Sustainability Disclosure Standards, including the way the SASB Standards fit into that architecture.
The TAC recommended that the ISSB seeks stakeholder views on the architecture of IFRS Sustainability Disclosure Standards and strategy for enhancing the SASB Standards. However, the TAC suggested that the ISSB considers adopting a climate-first thematic approach by enhancing the climate-related content in the SASB Standards first, and then enhancing the content related to other topics in the SASB Standards. The ISSB could also consider prioritising the development of further topic-specific materials.
The TAC stressed the importance of ensuring an effective consultation process is conducted on materials such as the SASB Standards.
The TAC expressed greater support for the ISSB's aim of improving interoperability with other sustainability-related standards and frameworks in the light of stakeholder feedback, but emphasised that the ISSB's focus should be harmonisation.
The TAC made a number of other suggestions around the wording and drafting of its response to the SASB Exposure Draft and agreed that these would be incorporated into the response following the meeting, along with the findings of the stakeholder outreach and research activities.
5. SASB consultation: comments on Exposure Draft Proposed Amendments to the Industry-based Guidance on Implementing IFRS S2
The TAC considered Agenda Paper 5 on the points to include in its response to the Exposure Draft Proposed Amendments to the Industry-based Guidance on Implementing IFRS S2.
The TAC had no comments on this paper and agreed with the recommendations laid out by the Secretariat for inclusion in the TAC's comment letter.
6. AOB
There was no other business.
The Chair thanked attendees and presenters and confirmed that the next meeting is scheduled for 11 November 2025.
The meeting ended at 12:38pm.