Producer Responsibility Obligations (Packaging and Packaging Waste) Regulations 2024 (SI 2024/1332); Waste Electrical and Electronic Equipment Regulations 2013; Waste Batteries and Accumulators Regulations 2009; End-of-Life Vehicles (Producer Responsibility) Regulations 2005

The UK government has endorsed IFRS S1 and S2 as UK SRS S1 and S2 for voluntary use. The FCA is consulting on listing rules that would make UK SRS S2 mandatory for listed issuers, with Scope 3 and non-climate sustainability on a comply-or-explain basis.

Enforcement

Voluntary at publication. FCA proposes mandatory UK SRS S2 for listed issuers (Scope 3 and broader sustainability on comply-or-explain).

Effective date

TBD pending FCA listing-rule outcome

Covered entities

Any UK entity (voluntary). FCA proposal targets in-scope listed issuers.

UK regulations requiring around 1,300 of the largest UK companies and LLPs to make TCFD-aligned climate disclosures in their strategic report covering governance, strategy, risk management, and metrics and targets. The first G20 mandatory TCFD-aligned regime.

Enforcement

Mandatory

Effective date

Financial years beginning on or after 6 April 2022

Covered entities

Traded companies, banking companies, authorised insurers, AIM-listed companies with >500 employees, and other large companies/LLPs with >500 employees and >£500m turnover

FCA regime for sustainability disclosure and fund labelling, with four investment labels (Focus, Improvers, Impact, Mixed Goals), anti-greenwashing requirements for all FCA-authorised firms, and naming/marketing rules for funds making sustainability claims.

Enforcement

Mandatory

Effective date

Anti-greenwashing rule from 31 May 2024. Investment labels available from 31 July 2024. Naming and marketing rules from 2 December 2024.

Covered entities

FCA-authorised firms (anti-greenwashing); UK asset managers and distributors of investment funds (labels, naming and marketing, disclosures)

UK regime requiring quoted companies, large unquoted companies, and large LLPs to disclose UK energy use, GHG emissions, and at least one intensity metric in their annual reports. Quoted companies report global Scope 1+2 emissions plus underlying global energy use.

Enforcement

Mandatory

Effective date

Financial years starting on or after 1 April 2019

Covered entities

Quoted companies; large unquoted companies and large LLPs (meeting two of: >250 employees, >£36m turnover, >£18m balance sheet). Low energy users (<40 MWh) exempt.

The rule requires that any reference an authorised firm makes to the sustainability characteristics of its products or services is consistent with those characteristics and is fair, clear and not misleading. FG24/3 sets out the FCA's expectations on substantiation, evidence and ongoing review.

Enforcement

Mandatory

Effective date

31 May 2024

Covered entities

All FCA-authorised firms making references to the sustainability characteristics of a product or service to UK clients (retail or professional)

The Green Claims Code sets six principles for environmental claims: claims must be truthful and accurate, clear and unambiguous, must not omit material information, comparisons must be fair, the full life cycle must be considered, and claims must be substantiated. Breaches are pursued under consumer protection law; the CMA can now impose civil fines of up to 10 percent of global turnover.

Enforcement

Guidance (interpreting binding consumer protection law)

Effective date

20 September 2021

Covered entities

Any business selling or promoting goods or services to UK consumers, including non-UK businesses marketing into the UK