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 March 2026 Paper 6: TAC work plan and report on technical activities
Executive summary
| Date | 24 March 2026 |
|---|---|
| Paper reference | 2026-TAC-007 |
| Project | Annual reporting |
| Topic | Report on technical activities and work plan |
Objective of the paper
This paper presents a draft report on technical activities for the period ended 31 March 2026 and work plan for 2026-2027.
Decisions for the TAC
The TAC is asked whether it approves the draft report on technical activities and work plan.
Appendices
Appendix 1: Draft report on technical activities for the period ended 31 March 2026 Appendix 2: Draft work plan for 2026-2027
This paper has been prepared by the Secretariat for the UK Sustainability Disclosure Technical Advisory Committee (TAC) to discuss in a public meeting. This paper does not represent the views of the TAC or any individual TAC member.
Context
1A minister from the Department for Business and Trade (DBT) commissions the TAC 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 for Business and Trade (Secretary of State) accordingly. In particular, the TAC's analysis is used to provide a recommendation to the Secretary of State on whether the endorsement of an IFRS Sustainability Disclosure Standard would be conducive to the long-term public good in the UK. DBT may also commission the TAC to provide supplementary advice and analysis to support endorsement or implementation decisions. The TAC also has responsibility to undertake outreach with, and provide a focal point for, UK stakeholders to influence the technical development of IFRS Sustainability Disclosure Standards. DBT may share its views on the TAC's upcoming priorities.
2The TAC Secretariat has drafted a report on the TAC's technical activities for the period ended 31 March 2026, alongside the TAC's work plan for 2026-2027.
3The draft report on technical activities in Appendix 1 provides a summary of the work completed for the period from the TAC's formation, on 16 May 2024, to 31 March 2026. It is updated as at 17 March 2026, and there are no expected changes to the TAC's technical activities between 18 March 2026 and 31 March 2026.
4The draft work plan for 2026-2027 in Appendix 2 is devised with reference to communications and commissions from DBT, including DBT's 2026-2027 TAC priorities letter, as well as the ISSB's work plan. It will be adapted in response to ongoing and future developments.
Next steps
5If the TAC approves the draft report on technical activities for the period ended 31 March 2026 and work plan for 2026-2027, the TAC Secretariat will work with the TAC Chair to finalise the documents. The draft report on technical activities will be updated for any developments between 18 March 2026 and 31 March 2026. The draft report on technical activities and work plan will undergo final proofreading and formatting. Once completed, the TAC's report on technical activities and work plan will be published on the FRC website.
Questions for the TAC
- Does the TAC have any comments on the draft report on technical activities and work plan in the appendices?
- Does the TAC approve the draft report on report on technical activities?
- Does the TAC approve the draft work plan?
Appendix 1: Draft report on technical activities for the period ended 31 March 2026
Context
6The UK Sustainability Disclosure Technical Advisory Committee (TAC) supports the Secretary of State for Business and Trade (Secretary of State) with making endorsement decisions about IFRS Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB). The TAC conducts rigorous technical analyses of IFRS Sustainability Disclosure Standards and provides well-reasoned, clear and evidence-based advice to the Secretary of State accordingly. In particular, the TAC's analysis is 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.
7The TAC also has responsibility to undertake outreach with, and provide a focal point for, UK stakeholders to influence the technical development of IFRS Sustainability Disclosure Standards.
8A minister from the Department for Business and Trade (DBT) commissions the TAC to work on an IFRS Sustainability Disclosure Standard and DBT may commission the TAC to provide supplementary advice and analysis to support endorsement or implementation decisions. DBT may also share its views on the TAC's upcoming priorities.
9The TAC's function and remit are further explained in its Terms of Reference, published by DBT, and accompanying Due Process Policy. The principles underlying the TAC's work are transparency, providing a focal point for UK stakeholders, accountability and assessing the long-term public good in the UK.
Report on technical activities
Projects completed for the period ended 31 March 2026
Development of endorsement recommendations and advice
Endorsement recommendations and advice on IFRS S1 and IFRS S2
11In June 2023, the ISSB published IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (IFRS S1) and IFRS S2 Climate-related Disclosures (IFRS S2).
12On 17 May 2024, the TAC was commissioned by the Minister of State for Enterprise, Markets and Small Business to conduct rigorous technical analyses of IFRS S1 and IFRS S2 and provide well-reasoned, clear and evidence-based advice to the Secretary of State accordingly. In particular, the TAC's analyses were to be used to provide a recommendation to the Secretary of State on whether the endorsement of IFRS S1 and IFRS S2 would be conducive to the long-term public good in the UK. The TAC's target date was the end of 2024.
13In its role of providing a focal point for UK stakeholders, the FRC as TAC Secretariat published a call for evidence, which closed on 11 October 2023, alongside using roundtables to elicit stakeholder views. The FRC as TAC Secretariat also updated its stakeholder engagement in 2024 by conducting further interviews of UK stakeholders. A summary of stakeholder feedback is included in TAC paper 2024-TAC-027.
14The TAC voted on its proposed amendments to IFRS S1 and IFRS S2 and on its endorsement recommendations and advice on IFRS S1 and IFRS S2 in a public meeting on 5 December 2024. The TAC also approved its report UK Endorsement of IFRS S1 and IFRS S2: Technical assessment and endorsement recommendations in the same public meeting and submitted it to the Secretary of State on 18 December 2024. The TAC also approved a related letter in a public meeting on 14 January 2025 and submitted it to the ISSB Chair on 27 January 2025.
15The TAC's report recommended full endorsement of IFRS S1 and IFRS S2, with a few amendments, for example amendments to the requirement in IFRS S2 relating to the use of Global Industry Classification Standard (GICS) when disaggregating gross financed emissions and to the transition reliefs. The TAC's report also identified areas for further guidance, including on financed emissions to assist with consistent implementation.
16Following the UK Government's consultation on the draft UK SRS S1 and UK SRS S2 in 2025 and the ISSB's publication of amendments to IFRS S2, Amendments to Greenhouse Gas Emissions Disclosures, in December 2025, the TAC was commissioned to provide supplementary advice to DBT.
17Stakeholder feedback on relevant aspects of the UK Government's consultation contributed to the development of the TAC's supplementary advice.
18The TAC approved its supplementary advice/supplementary-advice) in a public meeting on 19 January 2026 and submitted it to the Secretary of State on 26 January 2026.
19The TAC's advice was to replace its previous amendments to the requirement in IFRS S2 relating to the use of GICS with the ISSB's amendments to IFRS S2 and to provide further clarification on financed emissions disclosures.
20Further information is available on the project page: Endorsement: Technical assessment of IFRS S1 and IFRS S2./endorsement-technical-assessment-of-ifrs-s1-and-ifrs-s2)
Development of comment letters
Proposed amendments to IFRS S2
21In April 2025, the ISSB published an Exposure Draft proposing targeted amendments to IFRS S2: Exposure Draft ISSB/ED/2025/1 Amendments to Greenhouse Gas Emissions Disclosures. The Exposure Draft was open for comment for 60 days, with the comment period closing on 27 June 2025.
22The TAC was commissioned to respond to the ISSB consultation on the proposed amendments to IFRS S2 in correspondence with DBT and in DBT's June 2025 letter.
23In its role of providing a focal point for UK stakeholders, the FRC as TAC Secretariat used roundtables to elicit stakeholder views. The FRC as TAC Secretariat also made targeted approaches to stakeholders and held one-to-one meetings with them. A summary of stakeholder feedback is included in TAC paper 2025-TAC-036.
24The TAC approved its response in a public meeting on 10 June 2025 and submitted it to the ISSB on 25 June 2025.
25The TAC's response covered the following matters:
- Scope 3 Category 15 greenhouse gas emissions.
- Use of Global Industry Classification Standard (GICS).
- Jurisdictional reliefs - use of the Greenhouse Gas Protocol Corporate Standard and applicability of global warming potential values.
26Further information is available on the project page: Consultation response: IFRS S2 amendments./consultation-response-ifrs-s2-amendments)
Enhancing the SASB Standards
27In July 2025, the ISSB published two Exposure Drafts proposing amendments to the SASB Standards and consequential amendments to the Industry-based Guidance on Implementing IFRS S2. These were Exposure Draft SASB/ED/2025/1 Proposed amendments to the SASB Standards and Exposure Draft ISSB/ED/2025/2 Proposed Amendments to the Industry-based Guidance on Implementing IFRS S2. The Exposure Drafts were open for comment for 150 days, with the comment period closing on 30 November 2025.
28The TAC was commissioned to respond to ISSB consultations on the SASB Standards in correspondence with DBT and in DBT's June 2025 letter.
29In its role of providing a focal point for UK stakeholders, the FRC as TAC Secretariat used a survey and roundtables to elicit stakeholder views. The FRC as TAC Secretariat also made targeted approaches to stakeholders and held one-to-one meetings with them. A summary of stakeholder feedback is included in TAC paper 2025-TAC-047.
30The TAC approved its responses in a public meeting on 11 November 2025 and submitted them to the ISSB on 27 November 2025.
31The TAC's responses noted the value of industry-based sustainability disclosures and recommended that the ISSB:
- communicates the future architecture of the IFRS Sustainability Disclosure Standards as a priority and applies the level of due process to the SASB Standards that is commensurate to the role they will play in the future architecture;
- considers restructuring the SASB Standards to distinguish between core disclosures, industry-agnostic disclosures and industry-specific disclosures;
- considers moving core and industry-agnostic disclosures out of the SASB Standards and into IFRS S1, IFRS S2 and any further topic-specific IFRS Sustainability Disclosure Standards;
- reconsiders the name of the SASB Standards;
- emphasises a principles-based approach so that the SASB Standards do not have to be adapted so much to keep pace with changes; and
- considers adopting a climate-first thematic approach to its project to enhance the SASB Standards.
32Further information is available on the project page: Consultation response: SASB enhancements./consultation-response-sasb-enhancements)
Greenhouse Gas Protocol Scope 2 Guidance
33DBT requested the TAC respond to the GHG Protocol consultation on Scope 2 Guidance.
34In its role of providing a focal point for UK stakeholders, the FRC as TAC Secretariat made targeted approaches to stakeholders and held interviews with some of them and received submissions from others. A summary of stakeholder feedback is included in TAC paper 2025-TAC-054.
35The TAC approved its response in a public meeting on 19 January 2026 and submitted it to the GHG Protocol Independent Standards Board on 28 January 2026. The TAC also approved a related letter in a public meeting on 19 January 2026 and submitted it to the ISSB Chair on 28 January 2026.
36The TAC's response welcomed the intention of the proposals to improve the quality of Scope 2 emissions data. However, it noted that there are significant concerns about the feasibility and cost of the proposals which might outweigh their benefits, and therefore recommended that the GHG Protocol reconsider whether all the proposed revisions are necessary to improve decision-making by investors and concentrate on the revisions that are likely to have the greatest impact on advancing the quality of disclosures.
37Further information is available on the project page: Consultation response: GHG Protocol Scope 2 Guidance./consultation-response-ghg-protocol-scope-2-guidance)
Other activities
Due process policy
38The TAC's Terms of Reference require the TAC to determine its Due Process Policy within 12 months following approval of the Terms of Reference.
39The TAC approved its Due Process Policy in a public meeting on 13 May 2025.
40The TAC's Due Process Policy expands on the requirements in the TAC's Terms of Reference, 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.
Business-as-usual activities
41The TAC, and the FRC as TAC Secretariat, also performed business-as-usual activities, including in relation to monitoring, influencing, governance and operations.
Appendix 2: Draft work plan for 2026-2027
42The TAC's work plan is devised with reference to communications and commissions from DBT, as well as the ISSB's work plan, and will be adapted in response to ongoing and future developments.
43The TAC is not anticipating conducting any endorsement assessments in the forthcoming year, but there are several consultations that the TAC will be expected to respond to. The draft work plan, including the proposed research projects, is designed to the support the TAC in preparing for these consultations.
44The TAC's work plan for 2026-2027 includes further information on the areas the TAC is expected to focus on, which are:
- Research on nature-related disclosures
- Response to ISSB nature-related disclosures Exposure Draft
- Proposed amendments to SASB Standards Phase 1 - Part 2
- GHG Protocol revisions
- Human capital disclosures
- Due process review.
45The TAC, and the FRC as TAC Secretariat, will also continue their business-as-usual activities.
Research on nature-related disclosures
46The ISSB has commenced with standard setting activities in regard to nature-related disclosures. The ISSB aims to publish an Exposure Draft on nature-related disclosures in mid-October 2026 (around the time of the COP to the UN Convention on Biological Diversity (UNCBD)). It is expected that the TAC will respond to this consultation.
47In anticipation of the ISSB consultation and the TAC preparing its response, the TAC Secretariat are proposing a research project focusing on understanding the current state of nature-related disclosures in the UK. This research is likely to include:
- a review of current practice through targeted content analysis of corporate reports
- a desk-based literature review on nature-related disclosures
- stakeholder engagement with experts who can provide insight into the practical challenges associated with nature-related disclosures.
Response to ISSB nature-related disclosures Exposure Draft
48As noted in paragraph 46, the TAC is expected to respond to the ISSB's consultation on nature-related disclosures when it is published. It is expected that this consultation will be open for comment for at least 120 days.
Proposed amendments to SASB Standards Phase 1 - Part 2
49The ISSB is required to maintain and update the SASB Standards, which are referenced in IFRS S1 as a source of industry-based guidance that companies are able to refer to and consider when developing their sustainability-related disclosure. The recent ISSB project that focused on enhancing a selection of SASB Standards was split into two parts. The TAC responded to the first part of the project in December 2025 (focused on 9 industry standards) and is expected to engage with the second part when it is published at the end of March 2026. This consultation will include amendments to the following SASB Standards:
- Electric Utilities & Power Generators
- Agricultural Products
- Meat, Poultry & Dairy.
GHG Protocol revisions
50The GHG Protocol is undergoing a process to revise all its corporate materials. The UK Government commissioned the TAC to consider the proposed revisions and to respond to these consultations (if appropriate to do so). The TAC responded to the Scope 2 guidance consultation in January 2026 and it is expected that at least three more consultations will be published in 2026 relating to Scope 3, Scope 2 (additional consultation), and the Corporate Standard. The exact timing of these consultations have not been shared publicly.
Human capital disclosures
51The ISSB's project on human capital disclosures is currently considering the feasibility and necessity of standard setting. The Secretariat will continue to monitor the ISSB's work on human capital, but no specific TAC project is currently planned. The TAC's work plan might need to be updated at a later date depending on the direction the ISSB take on this project.
Due process review
52The TAC's Terms of Reference and Due Process Policy require the TAC to report on compliance with its Due Process Policy to DBT once in every calendar year. The TAC aims to submit its first report for the period from the TAC's formation, on 16 May 2024, to 31 March 2026 to DBT in April 2026. Alongside preparing the TAC's report on compliance with its Due Process Policy, the TAC Secretariat will review the Terms of Reference and Due Process Policy and liaise with DBT about any amendments.
53The TAC also expects to prepare its report on compliance with its Due Process Policy for the year ending 31 March 2027 in Q1 2027.
Indicative timeline
| 2026 Q2 | 2026 Q3 | 2026 Q4 | 2027 Q1 | |
|---|---|---|---|---|
| Project: Research on nature-related disclosures | Desk-based literature review on nature-related disclosure (proposed) | |||
| Current practice review: targeted content analysis of corporate reports (proposed) | ||||
| Project: Response to ISSB nature-related disclosure ED | Nature-related consultation (expected in October) | |||
| Project: Due process review | Due process annual report 2026 | Due process annual report 2027 | ||
| Review of the ToR and Due Process Policy (proposed) | ||||
| Project: Proposed amendments to SASB Standards Phase 1 Part 2 | SASB enhancement consultation Phase 1 - Part 2 (started in March) | |||
| Corporate Standard consultation (expected in Q2) | ||||
| Project: GHG Protocol revisions | Scope 2 consultation (expected in Q2) | Scope 3 consultation (expected in Q3) |
| Key | |
|---|---|
| Responding to external consultation | Internal projects |
Note: The timeline is indicative only and subject to change. It is based on the information currently available: the consultation dates and periods referenced are estimated and may change.