On 16 May 2024, the Department for Business & Trade published a document, Framework and Terms of Reference for the Development of UK Sustainability Reporting Standards.

In March 2023, the Government published Mobilising green investment: 2023 green finance strategy. In this document the Government committed to establishing a framework to assess and decide whether to endorse IFRS Sustainability Disclosure Standards for use within a UK context.

In this latest document the Government explains that endorsement process in more detail, and its associated roles and responsibilities together with the UK regulators, standard-setters and advisory committees. In addition, the document explains how the Government, FCA and other parties will work together to co-ordinate future decisions to implement UK Sustainability Reporting Standards.