Legal & Regulatory News

BEIS publishes guidance to assist companies and LLPs in understanding how to meet new mandatory climate-related financial disclosure requirements

On 21 February 2022, the UK Government's Department for Business, Energy & Industrial Strategy (BEIS) published non-binding guidance in relation to new mandatory climate-related financial disclosures for publicly quoted companies, large private companies and limited liability partnerships (LLPs).

The new mandatory disclosure requirements introduced under the Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 and the LLP (Climate-related Financial Disclosure) Regulations 2022 (together, the Regulations) will apply to reporting for in-scope firms for financial years starting on or after 6 April 2022. The BEIS guidance document includes guidance on, amongst other things:

• the scope of the Regulations;
• the outcomes companies and LLPs should aim to achieve in their disclosures and the level of detail required;
• reliance on third party information; and
• the interaction of the Regulations with other regulations and frameworks.

Click here to access the BEIS guidance document.