SRS: Overwhelmed by CSRD, ISSB, SASB? A simpler path just opened for UK companies
“With so many overlapping reporting frameworks, it’s no surprise that sustainability leaders feel overwhelmed. The UK’s new standards offer a rare opportunity to simplify, align and future-proof sustainability reporting – if businesses take the right steps now.”Nicola StoppsChief Impact Officer and Founder
As we approach the summer holiday season, many of us are looking forward to a well-earned break. But if you’re a Head of Sustainability, your suitcase might include more than just sun cream and fiction, regulatory updates and frameworks may also be top of mind.
So here’s a short, practical read to add to your holiday list. It’s inspired by a recent conversation I had with a client whose business operates across multiple countries. They were feeling completely overwhelmed by the scale of global reporting demands – CSRD, ISSB, SASB, GRI, and now the UK’s own Sustainability Reporting Standards (UK SRSs).
It’s a concern I hear often. My advice? Step back, focus on what’s most strategically relevant, and build your reporting approach with clarity and confidence. For UK-based businesses, the new UK SRSs are a timely place to begin.
On 25 June 2025, the UK Government launched its consultation on the draft UK SRSs—a key move in its ambition to become the “sustainable finance capital of the world.” While broader reform is underway (including new proposals on transition plans and assurance), this article focuses on what matters now: the core sustainability reporting standards and how to respond.
The UK SRSs are based on the ISSB’s IFRS S1 and S2 standards, focusing on sustainability and climate-related financial disclosures. They adopt a financial materiality lens, prioritising what is relevant to enterprise value rather than broader environmental and social impacts.
While closely aligned to ISSB, the UK has proposed a few subtle differences to aid business transition:
Requiring companies to publish sustainability disclosures alongside financial reporting, even in the first year
Allowing businesses to delay Scope 3 emissions disclosure until the second year
Permitting a year three delay for wider sustainability reporting topics under IFRS S1
This consultation is focused on content only. Further consultations will determine implementation and scope, including the FCA’s role in embedding UK SRSs into the UK Listing Rules.
How do UK SRSs relate to CSRD and SASB?
CSRD: The EU’s Corporate Sustainability Reporting Directive is more extensive, requiring double materiality and comprehensive disclosures under the European Sustainability Reporting Standards (ESRS). While UK SRSs won’t fulfil CSRD on their own, they provide a strong foundation, particularly for UK-headquartered groups that must report under CSRD through EU subsidiaries.
SASB: The ISSB recommends using SASB’s sector-specific metrics to implement IFRS S1. Many UK companies already use SASB to meet investor expectations. For UK SRSs, SASB guidance remains a valuable tool for building focused, decision-useful disclosures.
Practical steps for large UK businesses
Whether you’re thinking ahead during a quiet August or returning with fresh focus in September, here’s how to get started:
1. Conduct a materiality assessment
Start with a financial materiality assessment aligned with IFRS S1/S2. If CSRD applies (or may apply), layer in double materiality. Use SASB’s sector-specific materiality map to clarify key themes.
2. Perform a gap analysis
Review your current disclosures (e.g. TCFD, SECR, GRI) against UK SRS content. Pay close attention to areas like Scope 3 data quality, scenario analysis, and governance clarity.
3. Build your disclosure timeline
Coordinate across teams to embed sustainability reporting into your financial reporting cycle. Avoid the last-minute scramble, establish timelines and assign responsibilities now.
4. Prepare for future assurance
With ISSA 5000 assurance standards on the horizon, build controls and processes that will stand up to audit. And for UK-headquartered companies needing to comply with CSRD audit rules, this groundwork is essential.
Final thoughts
Regulatory reporting may not be the first thing you pack for your summer break, but a moment of quiet reflection now can save months of stress later. The UK SRSs offer a clear, globally aligned path for sustainability disclosure. And with early action, UK businesses can reduce complexity, boost credibility, and position themselves strongly for what’s next.
If you’d like help assessing your reporting readiness or planning for CSRD and UK SRS alignment, the team at Simply Sustainable is here to support you.
Nicola Stopps is Chief Impact Officer and Founder of Simply Sustainable. Nicola has over 20 years’ experience in sustainability and ESG having worked for some of the largest companies in the world.
Since founding Simply Sustainable in 2010, Nicola has worked with a number of international and national organisations on developing their CSR and sustainability programmes.
Previous roles include; Head of Corporate Responsibility at T-Mobile, Director of Sustainability and Environment at Travelodge Hotels, as well as working for DHL and the BBC. Nicola holds a Geography degree from University of Exeter and received her Master’s in Environmental Impact Assessment and Auditing from the University of East Anglia in 1999.
Nicola has a proven capability to deliver high-quality projects on time and on budget. She has gained a reputation of someone who ‘gets the job done’ and has experience working in a wide range of sectors. With firm foundations in environmental management and experience in successfully implementing sustainability and ESG strategies, Nicola is nationally recognised as a leader in the field of corporate sustainability and ESG. She is a Fellow of IEMA and the RSA and sits on the CBI Energy and Climate Change Committee and was elected as a CBI Council Member for the East of England.
