On 25 June 2025, the government issued three consultations intended to support banks and large companies in developing climate transition plans.

The consultations are on:

  • How to take forward the government’s commitment on transition planning to support the market to invest in sectors that will deliver the clean energy superpower mission. The government has committed to mandating “UK-regulated financial institutions (including banks, asset managers, pension funds and insurers) and FTSE 100 companies to develop and implement credible transition plans that align with the 1.5°C goal of the Paris Agreement” and the government announced in November 2024 that it would consult in the first half of 2025 on how best to take forward the transition plans policy. This consultation seeks views on how the government could take forward the government’s manifesto commitment.
  • New UK Sustainability Reporting Standards to provide clear, comparable information for investors on sustainability related financial risks and opportunities to enable them to make informed investment decisions. As part of the Mansion House package in November 2024, the government set out the steps that it is taking to establish a sustainable finance framework that delivers credible and decision-useful sustainability-related financial information to the financial markets. The UK Sustainability Reporting Standards (UK SRS) will serve as the foundation for this framework. This consultation seeks views on exposure draft UK SRS, which are based on IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. The government proposes 6 minor amendments to the standards for application in a UK context.
  • The development of a voluntary registration regime for the providers of assurance of sustainability reporting, supporting growth in this important sector. This consultation seeks views on a proposal for the planned Audit, Reporting and Governance Authority to be given responsibility for creating a voluntary registration regime for entities that offer third-party assurance services for sustainability-related disclosures.

Next steps

The deadline for comments on each consultation is 17 September 2025.