Climate related reporting is on the horizon for UK Companies.

From 6 April 2022, more than 1,300 of the largest UK-registered companies and financial institutions will have to disclose climate-related financial information on a mandatory basis in line with the Task Force on Climate-Related Financial Disclosures TCFD.

Firms will be required to disclose climate-related financial information, ensuring they consider the risks and opportunities they face as a result of climate change.

Which companies are in scope?

The new requirement will apply to:

• all UK companies that are currently required to produce a non-financial information statement, being UK companies that have more than 500 employees and have either transferable securities admitted to trading on a UK regulated market (such as the LSE's main market), or are banking companies or insurance companies;
• UK AIM companies with more than 500 employees;
• UK companies which are not included in the categories above and have more than 500 employees and a turnover of more than £500m; and
• LLPs which have more than 500 employees and a turnover of more than £500m.