Britain says company climate disclosures will be mandatory from 2022

LONDON - Britain confirmed on Friday that a set of global voluntary company disclosure standards on climate-related risks will become mandatory for large UK companies from April 2022.

The business ministry had proposed in March that corporate disclosures should be mandatory, using recommendations from the global Task Force on Climate-related Financial Disclosures (TCFD), set up by the G20 rich countries to coordinate financial rules.

The ministry said on Friday that from April 6, 2022, over 1,300 of the biggest UK-registered companies and financial institutions will be required to apply the 4-year old TCFD recommendations.