UK government issues non-binding guidance on climate-related financial disclosures

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23 Feb 2022

The Department for Business, Energy & Industrial Strategy (BEIS) has issued non-binding guidance on legislation requiring certain UK companies and LLPs to make climate-related financial disclosures.

The purpose of the non-binding guidance is to help in-scope companies and limited liability partnerships (LLPs) understand how to meet new mandatory climate-related financial disclosure requirements under the Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 and the Limited Liability Partnerships (Climate-related Financial Disclosure) Regulations 2022. These take effect for financial years commencing on or after 6th April 2022.

The guidance is intended as a factual representation of the secondary legislation.  It is not intended to be exhaustive, and companies and LLPs should not rely on it for legal guidance on how the requirements will affect them.

The guidance is in the form of Q&As, which broadly cover the following areas:

  • overview of the new climate-related financial disclosure requirements;
  • scope and timing of new legislation; 
  • clarifications around reporting requirements; and
  • interactions with other regulation and frameworks including links to additional information. 

BEIS welcomes feedback on the guidance, particularly from business users who are preparing or interpreting disclosures required under the regulations. This guidance will be reviewed periodically and updated where necessary.

A press release and the guidance, including a link to comment, is available on the UK Government's website. 

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