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 February 2026 Paper 2: February General Reporting Update
Executive summary
| Date | 17 February 2026 |
| Paper reference | TAC-Update-Feb-2026 |
| Project | Monitoring |
| Topic | February 2026 General Reporting Update |
Objective of the paper
This paper provides key updates since the update paper published for the January 2026 TAC meeting.
This includes a summary of the ISSB meetings and related developments, in addition to jurisdictional developments in relation to the adoption of IFRS Sustainability Disclosure Standards to date.
The information in this paper is provided as at 3 February 2026 and does not include any developments after this date.
Decisions for the TAC
There are no decisions required. This paper is for information only.
Appendices
- Appendix 1 - Jurisdictional developments.
This paper has been prepared by the Secretariat for the UK Sustainability Disclosure Technical Advisory Committee (TAC). It does not represent the views of the TAC or any individual TAC member.
Context
1The objective of this paper is to inform the TAC of international and jurisdictional developments in sustainability-related reporting. It is for information purposes only and does not ask the TAC to make any decisions.
2The TAC will be provided with an update of UK-specific, international and jurisdictional developments on sustainability-related reporting at each of its meetings.
UK developments
3The following paragraphs provide a summary of updates from the UK in relation to sustainability-related reporting since the last update paper published for the January 2026 TAC meeting.
4On 30 January the Financial Conduct Authority (FCA) released a public consultation on proposed updates to UK listing rules, which would align them with the draft UK Sustainability Reporting Standards (UK SRS). Under the proposals, UK-listed companies would be expected to report climate-related information (under UK SRS S2) from January 2027, with an additional year of relief before reporting Scope 3 information from January 2028. Reporting on sustainability information beyond climate would begin from January 2029. Reporting Scope 3 climate information and non-climate-related information is proposed on a comply-or-explain basis. Consultation is open until 30 March.
5The Department for Business and Trade (DBT) issued its response to its consultation on developing an oversight regime for the assurance of sustainability-related disclosures. Responses to the proposals set out in the consultation, which ran last summer, were broadly supportive with 80% of respondents supporting the establishment of a voluntary registration regime for sustainability assurance providers. This will be developed this year and will be operated by the Financial Reporting Council (FRC).
International Sustainability Standards Board & other international body developments
6The following paragraphs provide a summary of updates from the ISSB since the last update paper published for the January 2026 TAC meeting.
7The ISSB met on 28 January and discussed standard setting for nature-related risks and opportunities, and the outcomes of the November meeting of the Transition Implementation Group. The board voted to proceed with standard-setting encompassing all nature-related risks and opportunities as opposed to limiting the scope, but definitions will be discussed at a future meeting. An Update summarising the meeting has been published.
8The ISSB have released the Q1 2026 episode for their Implementation Insights podcast. The episode covers the ISSB's work to support implementation,
9including the resources available to companies. They have also released an episode of their monthly podcast, reflecting on the World Economic Forum in Davos in January and the ISSB's January meeting.
10CDP has published a list of all companies which disclosed data through its platform last year and were awarded an “A” score for the quality and coverage of their reporting. The number of companies on the “A list” has increased from 346 for 2023 reports to 751 for 2025 reports.
11The Taskforce on Nature-related Financial Disclosures (TNFD) has published draft sector-specific guidance for technology and communications companies for consultation. This is open until 10 April.
12The Greenhouse Gas (GHG) Protocol has issued a new land-sector and removals standard which will take effect on 1 January 2027.
13The Global Reporting Initiative (GRI) has launched a consultation on its standard setting priorities for the next three years, open until 27 March. Separately, GRI is consulting on revisions to its corruption, competition and public policy standards until 10 April.
Jurisdictional developments
14The following paragraphs provide a summary of updates from other jurisdictions in relation to sustainability-related reporting since the last update paper published for the December 2025 TAC meeting.
South Korea
15South Korea's Financial Services Commission (FSC) are planning to announce the implementation of sustainability disclosure requirements aligned with the ISSB Standards later this month, according to a recent meeting of the FCS's ESG Finance Promotion Committee. Drafts are due to be published for consultation in coming weeks, and the Committee plan to lead the development of an implementation roadmap which will include plans for implementing Scope 3 disclosures. Both the standards and the roadmap should be finalised by April, ready for reporting to begin from 2029 in line with the timelines for non-EU companies to comply with the EU's Corporate Sustainability Reporting Directive (CSRD). This follows a previous public consultation on ISSB-aligned draft standards in 2024.
Appendix 1 – Jurisdictional developments
G20 jurisdictions committed to adopting IFRS Sustainability Disclosure Standards
Table 1 summarises the status of G20 jurisdictions publicly committed to adoption or other use of the IFRS Sustainability Disclosure Standards.
Table 1: G20 jurisdictions (countries and regional bodies) summary as at 3 February 2026.
| Jurisdiction | Current status | Both IFRS S1 & IFRS S2? | Reporting commencing from | Companies in scope |
|---|---|---|---|---|
| African Union: Ghana | Endorsed | Both | 2027-2028 | Significant Public Interest Entities (Listed & unlisted) |
| African Union: Kenya | Endorsed and published roadmap | Both | 2025-2027 | Public Interest Entities; Non-Public Interest Entities (large entities); Small- to Medium-Sized Entities |
| African Union: Morocco | Publicly committed | - | - | - |
| African Union: Nigeria | Endorsed and published roadmap | Both | 2028-2030 | Public Interest Entities; Small- to Medium-Sized Entities |
| African Union: Rwanda | Endorsed and published roadmap | Both | 2025-2026 | Listed & unlisted |
| African Union: Tanzania | Endorsed | Both | 2025 | Listed & unlisted |
| African Union: Uganda | Endorsed | Both | 2026-2028 | Listed |
| African Union: Zambia | Endorsed | Both | 2025 | Listed |
| African Union: Zimbabwe | Publicly committed | - | - | - |
| Australia | Endorsed | Both: IFRS S1-voluntary IFRS S2 - mandatory |
2025 | Listed & unlisted |
| Brazil | Endorsed | Both | 2026 | Listed |
| Canada | Endorsed | Both | 2025 | Currently voluntary |
| China | Endorsed | Both | 2026-2027 | Listed & unlisted |
| India | Consultation closed | IFRS S2 only | 2025-2029 | Banking & finance |
| Indonesia | Endorsed | Both | 2027 | To be confirmed |
| Japan | Endorsed | Both | - | Listed |
| Mexico | Endorsed | Both | 2026 | Listed & unlisted |
| South Korea | Consultation due | Both | 2029 | Listed |
| Turkey | Endorsed | Both | 2024 | Regulated financial institutions & large companies |
Other jurisdictions committed to adopting IFRS Sustainability Disclosure Standards
Table 2 summarises the status of non-G20 jurisdictions publicly committed to adoption or other use of the IFRS Sustainability Disclosure Standards.
Table 2: Other jurisdictions (countries and regional bodies) summary as at 3 February 2026.
| Jurisdiction | Current status | IFRS S1 & IFRS S2? | Reporting commencing from | Companies in scope |
|---|---|---|---|---|
| Bangladesh | Endorsed | Both | 2024-2027 | Banking & finance |
| Bolivia | Endorsed | Both | 2027 | Listed & unlisted |
| Chile | Endorsed | Both | 2026 | Listed |
| Costa Rica | Endorsed | Both | 2025-2026 | Listed & unlisted |
| Hong Kong | Endorsed | Both | 2025 | Listed |
| Jordan | Endorsed | Both: IFRS S1-voluntary FRS S2-Mandatory |
2027 | All entities listed in the ASE20 index |
| Malaysia | Endorsed | Both | 2025-2027 | Listed & large unlisted |
| Panama | Publicly committed | - | - | - |
| Pakistan | Endorsed | Both | 2025-2027 | Listed & unlisted public interest companies |
| Philippines | Consultation closed | Both | 2026 | Listed |
| Qatar | Endorsed | Both | 2026 | Financial institutions regulated by the Qatar Central Bank |
| Singapore | Endorsed | IFRS S2 only | 2025-2027 | Listed |
| Sri Lanka | Endorsed | Both | 2025 | To be confirmed |
| Switzerland | Consultation closed - amending the Ordinance on Climate Disclosures | Both | 2026 | Listed & unlisted |
| Taiwan | Endorsed | Both | 2026-2028 | Listed |
| Thailand | Endorsed | Both | 2026-2030 | Listed |
G20 jurisdictions not publicly committed to adopting IFRS Sustainability Disclosure Standards
Table 3 summarises the status of G20 jurisdictions not publicly committed to adoption or other use of the IFRS Sustainability Disclosure Standards.
Table 3: G20 jurisdictions (countries and regional bodies) not publicly committed to adopting ISSB Standards as at 3 February 2026.
| Jurisdiction | Current status | Topics | Reporting commencing from | Companies in scope |
|---|---|---|---|---|
| Argentina | Unconfirmed | - | - | - |
| European Union (EU)* | European Sustainability Reporting Standards (ESRS) & Corporate Sustainability Reporting Directive (CSRD) | Ten topical standards including a general and climate change standard | 2024-2028 | Listed & unlisted |
| Russia | Unconfirmed | - | - | - |
| Saudi Arabia | Unconfirmed | - | - | - |
| South Africa | Unconfirmed | - | - | - |
| United States of America | California Corporate Climate Accountability Act (SB 253 and SB 261) - adopted | California: 2026 | California: Listed & unlisted | |
| New York Climate Corporate Data Accountability Act (SB 3456) - bill | New York: 2027-2028 | New York: Listed & unlisted | ||
| Colorado Corporate Climate Accountability Act (House Bill 25-119) - bill | Colorado: 2028-2031 | Colorado: Listed & unlisted |
* Although ESRS are required to be used by EU member states, the IFRS Foundation and EFRAG issued interoperability guidance in 2024 illustrating the high level of alignment achieved between ISSB Standards and ESRS. Note that this is subject to change as EFRAG finalises amendments to its standards arising from the simplification project.