Small Businesses: Climate Change

(asked on 19th May 2021) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what plans they have to require mandatory climate reporting for small and medium sized businesses.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 3rd June 2021

The Government and regulators have concluded that to accelerate progress on climate risk disclosures, the UK will become the first country in the world to make Task Force on Climate-related Financial Disclosures (TCFD)-aligned disclosures fully mandatory across the economy by 2025, with most requirements coming into force by 2023.

The UK Government recently published a consultation on Mandatory Climate-related Financial Disclosures, which closed on 5 May. The proposal covers larger companies and is consistent with the roadmap towards mandatory and climate related disclosures, and the interim report that was published in November 2020, which noted that the benefits of mandatory disclosures are likely to increase with an organisation’s size.

We will now carefully consider all of the responses to the consultation and a response will be published by the end of the year. BEIS has committed to review the case for expanding the scope of the regulations in 2023.

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