FAQ's Frequently Asked Questions
Q: What does IFRS S2 require companies to disclose?
IFRS S2 requires companies to disclose climate-related risks and opportunities across governance, strategy, risk management, and metrics and targets, building directly on the TCFD framework. Metrics and targets must include Scope 1, 2 and, in most cases, Scope 3 greenhouse gas emissions, alongside climate-related transition and physical risk disclosures.
Q: Is ISSB S2 reporting mandatory in the UK?
Not yet, but it's close — the UK adopted IFRS S2 as UK SRS S2 in February 2026, and the FCA has proposed making it mandatory for around 500 premium-listed companies from financial years beginning 1 January 2027. Voluntary reporting is possible now, and many large private companies are preparing ahead of the expected mandate.
Q: Does IFRS S2 require third-party verification of emissions data?
IFRS S2 itself doesn't mandate third-party verification, but investors and regulators increasingly expect assured emissions data behind climate disclosures, and verification materially strengthens your metrics and targets pillar. Carbonology® verifies GHG data to ISO 14064-3, giving your S2 disclosure independently assured figures.
Q: How does UK SRS S2 differ from IFRS S2?
UK SRS S2 adopts the IFRS S2 baseline with six UK-specific amendments covering areas like transitional relief and effective dates, so reporting under UK SRS substantively satisfies the global ISSB standard. This interoperability means a single verified dataset can support both your UK filing and any international ISSB-aligned disclosure.
Q: How does Carbonology verification support an IFRS S2/UK SRS disclosure?
We verify the Scope 1, 2 and 3 emissions data, targets, and methodology behind your metrics and targets pillar, giving you an ISO 14064-3 statement to support the numbers in your IFRS S2 or UK SRS S2 disclosure. This gives your board and investors confidence the figures will hold up to FCA and auditor scrutiny.