In Global First, the United Kingdom Moves Toward Mandatory Climate-related Disclosures by 2025

The United Kingdom became the first country to move towards mandatory climate-related, TCFD-aligned disclosures when it announced its intention on November 9th to require such disclosures across seven key sectors of the UK economy. A UK taskforce chaired by HM Treasury published the Interim Report of the UK’s TCFD Taskforce which sets out a five-year timeline of planned or potential regulatory actions or legislative measures across seven categories of organizations that includes banks and building societies as well as insurance companies, asset managers, life insurers and regulated pension schemes and occupational pension schemes along with listed commercial companies and UK-registered large private companies.