9 Items for Noting

Appendix A: Technical Advisory Committee Update

Executive Summary

Purpose of the paper

This paper provides a summary of the agenda and outcomes from the 24 March 2026 meeting of the UK Sustainability Disclosure Technical Advisory Committee (TAC) as relevant to the UKEB remit¹.

The UKEB is represented on the TAC by a Board Member, who is appointed as a full Committee member to reflect the need to maintain connectivity between UK-adopted international accounting standards and UK Sustainability Reporting Standards (UK SRS).

Summary of the Issue

At the 24 March meeting the TAC considered its due process in relation to responses to the Greenhouse Gas Protocol's (GHGP) proposed revisions to its Greenhouse Gas Scope 2 guidance and supplementary technical analysis of IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (IFRS S1) and IFRS S2 Climate-related Disclosures (IFRS S2). The Committee also considered the 2026/2027 work plan and a draft project plan for a SASB consultation.

Questions for the Board

None

Recommendation

N/A - noting only

Appendices

Annex One: UK Sustainability Disclosure TAC Background Annex Two: UK Sustainability Disclosure TAC Meeting Schedule

TAC meeting 24 March 2026

A1.The members considered a general sustainability reporting update and approved the application of due process in relation to responses to the Greenhouse Gas Protocol's (GHGP) proposed revisions to its Greenhouse Gas Scope 2 guidance and supplementary technical analysis of IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (IFRS S1) and IFRS S2 Climate-related Disclosures (IFRS S2).

A2.The Committee also considered the 2026/2027 work plan, technical activities and a draft SASB consultation project plan.

TAC work plan and report on technical activities

A3.In relation to the TAC workplan, the members noted that DBT³ had requested that the TAC to prioritise:

1. Influencing a potential ISSB nature related Exposure Draft by building a comprehensive view of the existing landscape for nature-related disclosures, and the views of UK stakeholders.
2. Proportionate consideration and response to the upcoming consultation on proposed SASB Standards amendments
3. Continuing to engage with GHG Protocol revisions and respond to consultation as appropriate

A4.The TAC is not anticipating conducting any endorsement assessments in the forthcoming year but will respond to relevant consultations. The members approved the workplan.

A5.The TAC also considered a draft report on technical activities for the period ended 31 March 2026 and work plan for 2026/2027. The scope of the TAC's report was technical activities from the publication of the Framework and Terms of Reference for the Development of UK Sustainability Reporting Standards by the Department of Business and Trade (DBT), on 16 May 2024, to 31 March 2026. The members approved the technical activities report.

SASB consultation: draft project plan

A6.The TAC discussed a draft project plan and timeline for an International Sustainability Standards Board (ISSB) Exposure Draft, which will include three priority SASB Standards and the related consequential amendments to IFRS S2 guidance. The standards relate to Agricultural Products sector, Meat, Poultry & Dairy sector and Electric Utilities & Power Generators sector.

A7.The Committee approved the project plan, subject to member comments, which will be published on the TAC project page in due course.

Annex One: UK Sustainability Disclosure TAC Background

1.The TAC was initially tasked by the DBT⁶ to assess the IFRS Sustainability Disclosure Standards, from a technical perspective, and provide advice⁷ to the Secretary of State for DBT on whether their endorsement would be conducive to the long-term public good in the UK.

2.On 18 December 2024, the TAC concluded⁸ that the endorsement of both IFRS S1 and IFRS S2, was likely to be conducive to the long-term public good in the UK.

3.The TAC was also requested by the DBT⁹ to understand the ISSB's enhancements to the SASB Standards and the implications of this for UK Sustainability Reporting Standards (UK SRS). On 16 March, DBT¹⁰ requested the TAC to prioritise influencing a potential ISSB nature related Exposure Draft, SASB Standards consultations and to continue engagement with GHG Protocol revisions.

4.In addition to the TAC there is also a separate Committee, the Policy Implementation Committee¹¹ (PIC), which is responsible for ensuring that any endorsed standards are implemented in a way that aligns with the mandates of UK government departments and regulator representatives.

Annex Two: UK Sustainability Disclosure TAC 2026 Meeting Schedule

1.The public meeting agenda, technical papers and summary minutes from the TAC meetings can be found on the UK Sustainability Disclosure Technical Advisory Committee website¹².

2.TAC meetings, scheduled for 2026, are listed below for information.

1. Monday 19 January: meeting summary.
2. Tuesday 17 February: This was a private meeting where the TAC held confidential informational sessions on upcoming workstreams and discussed related administrative matters.
3. Tuesday 24 March: meeting summary.
4. Tuesday 21 April
5. Tuesday 19 May
6. Tuesday 16 June
7. Tuesday 14 July
8. Tuesday 15 September
9. Tuesday 13 October
10. Tuesday 17 November
11. Tuesday 15 December

---

Appendix B: Sustainability Update

IFRS Foundation updates

IFRS Foundation Trustees

B1.The IFRS Foundation Trustees held their first plenary meeting in London on 3 March 2026. Their discussions focused on sustainable funding, succession planning and the development of the Foundation's long-term strategy¹³. In relation to the ISSB funding, the Trustees noted the focus will be to secure transition funding to bridge the gap between seed funding and a more sustainable funding model.

International Sustainability Standards Board (ISSB)

B2.On 25 March 2026¹⁴, the ISSB met to discuss standard-setting on nature-related disclosures and enhancing the SASB Standards.

B3.With respect to standard-setting for nature-related disclosures, the ISSB discussed:

1. requirements for disclosure of nature-related metrics and information on nature-related transition;
2. illustrative drafting of incremental requirements and guidance on strategy and decision-making; and
3. information on nature-related targets and consideration of international agreements and related jurisdictional commitments.

B4.The ISSB tentatively agreed these areas. The ISSB will continue its discussions of standard-setting for nature-related disclosures at future meetings.

B5.In relation to the Sustainability Accounting Standards Board (SASB) Standards, the ISSB discussed high-level summaries of feedback to the Exposure Drafts (ED) Proposed amendments to the SASB Standards¹⁵ and Proposed Amendments to the Industry-based Guidance on Implementing IFRS S2¹⁶. The ISSB was not asked to make any decisions and will continue to discuss this feedback before redeliberation.

B6.On 26 March, as part of the 'Enhancing the SASB Standards' project, the ISSB published another ED proposing amendments to three SASB Standards and consequential amendments to the Industry-based Guidance on Implementing IFRS S2 Climate-related Disclosures¹⁷.

B7.The three standards being consulted on are those for the Agricultural Products sector, the Meat, Poultry and Dairy sector and the Electric Utilities and Power Generation sector. These represent the last of the 12 prioritised SASB Standards, following the ED covering the first 9 in July 2025. Consultation for this ED closes on 24 July 2026.

---

Footnotes