Research: Sustainability Disclosure Requirements (SDR): RPC Opinion (Green-rated)

Regulatory Policy Committee

April 21
23:00 2024

The proposals introduce powers and regulations to place requirements upon businesses to make sustainability-related disclosures building on the implementation of the Taskforce for Climate-Related Financial Disclosure (TCFD) recommendations and proposed international standards.

The department provides a good indicative assessment of the likely impacts of the policy, including future secondary legislation, in line with scenario 2 of RPC primary legislation guidance2. In addition, the department notes the current disclosure and reporting requirements that business may face, considering where overlaps in impacts exist. The IA identifies the Small and Micro Businesses (SMBs) that would be directly impacted by potential future secondary legislation and provides an appropriate justification for not including an SMB exemption.

Published 22 April 2024

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