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Archive: ESG timeline (from January 2022)

Overview

Our ESG timeline archive sets out past UK and EU legal and regulatory developments relating to ESG and wider sustainable business topics from January 2022 onwards. As with the main timeline, the timeline archive can be filtered according to your business type or the relevant ESG theme.

This timeline archive covers the period from 1 January to 31 December 2022. Please refer back to our full ESG timeline for more recent and expected updates UK and EU ESG-related legal and regulatory developments

The timeline will be maintained. The last major update was in January 2025.

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Timeline by business type

Note on filters: The filters select the key obligations which are specifically relevant for that business category but additional obligations may apply to a particular business based on its size, structure or activities. For example, some of the obligations listed under Larger Businesses may be relevant to other business types, such as Listed Companies, depending on business size.

  • SFDR – periodic disclosure reporting requirements start to apply


    Disclosure Regulation (EU) 2019/2088 – key applicable dates for sustainability-related disclosures in the financial sector ("SFDR"): "Level 1" periodic disclosure reporting requirements begin to apply (but detailed RTS requirements postponed to 01/01/2023).

    In scope: Banks, investment firms, asset managers, insurers

    Theme: Sustainable finance and ESG reporting

  • EU Taxonomy Regulation reporting requirements on climate change mitigation and adaption to apply; additional reporting may apply for Arts 8 or 9 SFDR products


    EU Taxonomy Regulation – applicable date for the establishment of a framework to facilitate sustainable investment: EU Taxonomy Climate Delegated Act, the delegated acts setting out technical screening criteria defining which activities contribute to climate change mitigation and adaptation to apply. Additional reporting requirements may also apply for Art 8 or 9 SFDR products.

    In scope: Financial markets participants, issuers of financial products and large public interest entities

    Theme: Climate change, environment and resources &

    Sustainable finance and ESG reporting

  • EU Taxonomy Regulation – Delegated Regulation specifying content and presentation of Article 8 disclosures to apply


    EU Taxonomy Regulation – applicable date for the Delegated Regulation specifying content and presentation of information to be disclosed under Article 8 (non-financial statements).

    In scope: Certain large public interest entities meeting relevant size criteria

    Qualifying conditions:

    • Turnover greater than or equal to EUR40m
    • Balance sheet or assets greater than or equal to EUR20m
    • Number of employees greater than or equal to 500

    Theme: Climate change, environment and resources

    Sustainable finance and ESG reporting

  • UK TCFD disclosure requirements in force for largest asset managers and asset owners


    UK TCFD (FCA ESG rules) – largest UK-authorised asset managers and asset owners to make climate-related financial disclosures consistent with TCFD Recommendations and Recommended Disclosures. Publication deadline for first public disclosures 30/06/2023.

    In scope: Largest UK-authorised asset managers and asset owners

    Qualifying condition:

    • Asset managers with AuM ≥£50bn
    • Asset owners with in-scope assets of £25bn or more

    Theme: Sustainable finance and ESG reporting

  • TCFD disclosure requirements for standard listed companies


    TCFD  – climate-related disclosure requirements apply to (i) issuers of standard listed shares other than equity shares and (ii) standard listed issuers of GDRs (in each case excluding investment entities and shell companies such as SPACs) for financial years beginning on or after 1 January 2022.

    In scope: Standard listed companies

    Theme: Sustainable finance and ESG reporting

  • EU update on list of non-cooperative jurisdictions for tax purposes published

    February 2022

    EU update on list of non-cooperative jurisdictions for tax purposes published.  EU member states have introduced "defensive measures" which have adverse consequences for jurisdictions on the list. The list is updated twice a year.

    In scope: Entities in or affected by countries on the EU list of non-cooperative jurisdictions for tax purposes

    Theme: Tax

  • FTSE Women Leaders Review

    February 2022

    Publication of the FTSE Women Leaders Review: an independent business-led framework supported by the Government, to build on the Hampton-Alexander Review. Will monitor women's representation in senior leadership positions in FTSE 350 companies in the next 5 years.

    In scope: FTSE 350 companies

    Theme: People

  • Publication of draft Directive on corporate sustainability due diligence


    Publication of draft Directive on corporate sustainability due diligence (see our briefing)

    In scope:

    • Entities based in the EU meeting turnover and employee thresholds
    • Non-EU entities with significant turnover in the EU

    Qualifying conditions:

    • Turnover ≥ EUR 150m (≥ EUR 40m in high-risk sectors)
    • Number of employees ≥500 (≥250 in high-risk sectors) (N/A to non-EU entities)


    Theme: Sustainable finance and ESG reporting

  • BEIS guidance on TCFD disclosures available


    BEIS published non-binding guidance on the requirement for larger private and public companies to make TCFD disclosures (see below). See our briefing note for more detail.

    In scope: Listed companies and larger AIM-listed or private companies and LLPs

    Qualifying conditions:

    • Turnover ≥£500m*

    • Number of employees ≥500*

    *application of thresholds varies depending on entity type. See our briefing for more detail.

    Theme: Sustainable finance and ESG reporting

  • Appendix added to Pensions Regulator guidance on governance and reporting of climate-related risks and opportunities for in-scope occupational pension schemes

    March 2022

    The Pensions Regulator added an appendix to its guidance for trustees of in-scope occupational pension schemes on the governance and reporting of climate-related risks and opportunities.

    In scope: In-scope pension scheme trustees

    Theme: Sustainable finance and ESG reporting

  • New Listing Rules requirement re. board and senior management diversity targets

    1 April 2022 (applies to financial years beginning on or after this date)

    New requirement in Listing Rules for issuers to (1) publish an annual "comply or explain statement" in relation to prescribed board diversity targets; and (2) include numerical data on the sex or gender identity and ethnic diversity of a company's board and senior management.

    In scope: Premium and standard listed UK and overseas companies, including closed-ended investment funds.

    Theme: People

  • New disclosure requirement in DTRs re. diversity on board committees

    1 April 2022 (applies to financial years beginning on or after this date)

    New requirement in DTRs to disclose how the company’s diversity policy has applied to its remuneration, audit and nominations committees, having regard to diversity aspects such as ethnicity, sexual orientation, disability and socio-economic background.

    In scope: UK listed issuers 

    Theme: People

  • Climate-related financial (CFD) disclosures required of listed companies and large private and public companies and LLPs


    Larger private and AIM-listed companies, and LLPs required to make disclosures aligned with TCFD (Taskforce on Climate-Related Financial Disclosures) recommendations. See our briefing note for more detail.

    In scope: Larger non-premium listed companies, AIM-listed companies, larger private companies and LLPs

    Qualifying conditions: 

    • Turnover ≥£500m*
    • Number of employees ≥500*
      *application of thresholds varies depending on entity type. See our briefing for more detail.

    Theme: Sustainable finance and ESG reporting

  • Tax returns filed after April 2022 may require disclosure of uncertain tax treatment

    April 2022

    Tax returns filed by large business organisations after this date are required to take into account a new requirement to notify HMRC where the business has adopted an uncertain tax treatment. 

    In scope: Businesses whose UK turnover and/or balance sheet exceeds certain financial thresholds. There are some exceptions, e.g. collective investment schemes

    Qualifying conditions:

    • Turnover greater than or equal to £200m
    • Balance sheet or assets greater than or equal to £2bn 

    Theme: Tax

  • ICMA updated Appendix 1 of the Green Bonds Principles

    June 2022

    The Appendix makes a distinction between "Standard Green Use of Proceeds Bonds" (unsecured debt obligation) and "Secured Green Bonds" and to provide further guidance on green covered bonds, securitisations, asset-backed commercial paper, secured notes and other secured structures.

    In scope: Bond issuers

    Theme: Sustainable finance and ESG reporting

  • EU AIFMs and EU UCITS managers to integrate sustainability risks and factors


    EU AIFMD/EU UCITS – sustainability risks and sustainability factors to be taken into account as part of operating conditions.

    In scope: EU AIFMs; EU UCITS

    Theme: Sustainable finance and ESG reporting

  • Deadline for transposition of Transparent and Predictable Working Conditions Directive by EU Member States

    01 August 2022

    The Transparent and Predictable Working Conditions Directive is aimed at improving conditions for casual/zero hours workers - including compensation if an assignment is cancelled without reasonable notice, and a right to request more predictable working conditions after six months.

    In scope: All business organisations operating in the EU

    Theme: People

  • Deadline for transposition by member states of the EU Directive on Work-Life Balance

    02 August 2022

    The EU Directive on Work Life Balance grants new rights to leave for families, including four months of parental leave (two months of which are non-transferable between parents) and five days' leave per year for carers.

    In scope: All business organisations in the EU

    Theme: People

  • Integration of sustainability into EU MiFID organisational requirements and operating conditions


    EU MiFID II – certain investment firms to integrate sustainability factors, risks and preferences into organisational requirements and operating conditions.

    In scope: Investment firms (financial advisers and portfolio managers)

    Theme: Sustainable finance and ESG reporting

  • New requirement for pension scheme trustees to calculate and report alignment with Paris Agreement


    Regulations require trustees of occupational pension schemes with £1bn+ in assets to calculate and disclose an additional portfolio alignment metric, setting out the extent to which scheme investments are aligned with the Paris Agreement goal of limiting global temperature increase to 1.5° above pre-industrial levels.

    In scope: Pension scheme trustees

    Qualifying condition: Balance sheet or assets greater than or equal to Pension scheme assets >£1bn

    Theme: Sustainable finance and ESG reporting

  • TCFD disclosures required of >£1bn pension schemes


    TCFD - Trustees of occupational pension schemes with £1billion+ in assets required under Pension Schemes Act 2021 regulations to comply with enhanced climate governance requirements from October 2022, with the first TCFD-aligned public disclosures to be made within seven months of scheme year end. (Schemes with £5bn+ in assets were subject to the requirements a year earlier.)

    In scope: Pension scheme trustees

    Qualifying condition: ≥£1bn pension scheme assets

    Theme: Sustainable finance and ESG reporting

  • UK Sustainability Regime: FCA proposals for Sustainability Disclosure Requirements and investment labels

    25 October 2022

    FCA published a consultation paper (CP22/20) on Sustainability Disclosure Requirements (SDR) and investment labels.

    FCA sets out proposals relating to sustainable investment product labels (three labels are proposed – sustainable focus, sustainable improvers and sustainable impact), naming and marketing rules (including a general 'anti-greenwashing' rule) and a Sustainable Disclosure Requirements regime (SDR): consumer facing product-level disclosures, pre-contractual disclosures, ongoing sustainability-related performance information, entity-level disclosures and detailed disclosure requirements for distributors of products.

    See our briefing for further details.

    In scope: All regulated firms (as regards 'anti-greenwashing' rule), otherwise UK asset managers; "portfolio managers" (extends to capture private equity and other private market advisory activities).

    Theme: Sustainable finance and ESG reporting

  • COP27 took place in Sharm El-Sheikh, Egypt

    6-18 November 2022

    Sharm El Sheikh, Egypt hosts 27th UN Climate Change Conference of the Parties (COP27)

    In scope: All business organisations

    Theme: Climate change, environment and resources

  • Sustainability factors to be integrated into EU MiFID II product governance


    EU MiFID II – sustainability factors to be integrated into MiFID II product governance obligations.

    In scope: Investment firms

    Theme: Sustainable finance and ESG reporting

  • UK payment and cashflow review


    Review of UK late payment regulatory regime; may recommend additional disclosure obligations on time taken to pay supplier invoices, strengthening of Small Business Commissioner (SBC)'s powers in relation to late payment to small businesses and new rules on late payment clauses and remedies.  See our briefing. On 2 October 2023, the Government announced its support for embedding prompt payments in firms' ESG programmes and noted that tougher measures to tackle late payments to small businesses will be included in the review when published. 

    In scope:

    • In relation to powers of SBC and late payment clauses/remedies:  All UK businesses
    • In relation to disclosure obligations: Could be extended but currently "large" UK companies and LLPs i.e. entities meeting at least 2 of these thresholds:  

    (i) turnover >£36m,
    (ii) balance sheet >£18m;
    (iii) >250 employees.

  • Ban on exclusivity clauses for lower paid workers in force

    5 December 2022

    The UK Government has introduced a ban on exclusivity clauses in employment contracts for lower paid workers (anyone earning below the lower earnings limit, currently £123 per week). An exclusivity clause is any clause which prevents the worker from working elsewhere (or requires the employer's consent to do so). Such clauses are prohibited in contracts for zero hours workers and, since 5 December 2022, are also unenforceable in contracts for lower paid workers.

    In scope: All business organisations

    Theme: People

  • Government sets targets under Environment Act

    16 December 2022

    UK Government published new targets under the Environment Act, including in respect of biodiversity, waste and air quality.

    In scope: All business organisations

    Theme: Climate change, environment and resources

  • Adoption of Kunming-Montreal Global Biodiversity Framework

    19 December 2022

    Adoption of global biodiversity agreement at COP15.

    In scope: All business organisations

    Theme: Climate change, environment and resources

  • ESG disclosure requirements under EU Investment Firms Regulation to apply


    ESG disclosure requirements under EU Investment Firms Regulation to apply

    In scope: Larger investment firms

    Theme: Sustainable finance and ESG reporting

  • SFDR - Additional reporting requirements may apply (adverse sustainability impacts disclosed at a financial 'product' level)


    Disclosure Regulation (EU) 2019/2088 – key applicable dates for sustainability-related disclosures in the financial sector ("SFDR"): Additional reporting requirements may apply (adverse sustainability impacts disclosed at a financial 'product' level).

    In scope: Banks, investment firms, asset managers, insurers

    Theme: Sustainable finance and ESG reporting

  • UK proposals for decarbonising Combined Heat and Power plant expected

    Late 2022 (see note on timing)

    Details expected of UK Government proposals to help incentivise transition away from fossil fuel Combined Heat and Power (CHP) plant, potentially including financial incentives.

    NOTE: these were expected in late 2022 but no news as at September 2023.

    In scope: All business organisations operating in the UK

    Theme: Climate change, environment and resources

Timeline by ESG theme

  • SFDR – periodic disclosure reporting requirements start to apply


    Disclosure Regulation (EU) 2019/2088 – key applicable dates for sustainability-related disclosures in the financial sector ("SFDR"): "Level 1" periodic disclosure reporting requirements begin to apply (but detailed RTS requirements postponed to 01/01/2023).

    In scope: Banks, investment firms, asset managers, insurers

  • EU Taxonomy Regulation reporting requirements on climate change mitigation and adaption to apply; additional reporting may apply for Arts 8 or 9 SFDR products


    EU Taxonomy Regulation – applicable date for the establishment of a framework to facilitate sustainable investment: EU Taxonomy Climate Delegated Act, the delegated acts setting out technical screening criteria defining which activities contribute to climate change mitigation and adaptation to apply. Additional reporting requirements may also apply for Art 8 or 9 SFDR products.

    In scope: Financial markets participants, issuers of financial products and large public interest entities

  • EU Taxonomy Regulation – Delegated Regulation specifying content and presentation of Article 8 disclosures to apply


    EU Taxonomy Regulation – applicable date for the Delegated Regulation specifying content and presentation of information to be disclosed under Article 8 (non-financial statements).

    In scope: Certain large public interest entities meeting relevant size criteria

    Qualifying conditions:

    • Turnover greater than or equal to EUR40m
    • Balance sheet or assets greater than or equal to EUR20m
    • Number of employees greater than or equal to 500

  • UK TCFD disclosure requirements in force for largest asset managers and asset owners


    UK TCFD (FCA ESG rules) – largest UK-authorised asset managers and asset owners to make climate-related financial disclosures consistent with TCFD Recommendations and Recommended Disclosures. Publication deadline for first public disclosures 30/06/2023.

    In scope: Largest UK-authorised asset managers and asset owners

    Qualifying condition: Asset managers with AuM ≥£50bn; Asset owners with in-scope assets of £25bn or more

  • TCFD disclosure requirements for standard listed companies


    TCFD  – climate-related disclosure requirements apply to (i) issuers of standard listed shares other than equity shares and (ii) standard listed issuers of GDRs (in each case excluding investment entities and shell companies such as SPACs) for financial years beginning on or after 1 January 2022.

    In scope: Standard listed companies

  • EU update on list of non-cooperative jurisdictions for tax purposes published

    February 2022

    EU update on list of non-cooperative jurisdictions for tax purposes published.  EU member states have introduced "defensive measures" which have adverse consequences for jurisdictions on the list. The list is updated twice a year.

    In scope: Entities in or affected by countries on the EU list of non-cooperative jurisdictions for tax purposes.

  • FTSE Women Leaders Review

    February 2022

    Publication of the FTSE Women Leaders Review: an independent business-led framework supported by the Government, to build on the Hampton-Alexander Review. Will monitor women's representation in senior leadership positions in FSTSE 350 companies in the next 5 years.

    In scope: FTSE 350 companies

  • Publication of draft Directive on corporate sustainability due diligence


    Publication of draft Directive on corporate sustainability due diligence (see our briefing)

    In scope: Entities based in the EU meeting turnover and employee thresholds [Non-EU entities with significant turnover in the EU]

    Qualifying conditions:

    • Turnover ≥ EUR 150m (≥ EUR 40m in high-risk sectors)
    • Number of employees ≥500 (≥250 in high-risk sectors) (N/A to non-EU entities)

  • BEIS guidance on TCFD disclosures available


    BEIS published non-binding guidance on the requirement for larger private and public companies to make TCFD disclosures (see below). See our briefing note for more detail.

    In scope: Listed companies and larger AIM-listed or private companies and LLPs

    Qualifying conditions:

    • Turnover ≥£500m*
    • Number of employees ≥500*
      *application of thresholds varies depending on entity type. See our briefing for more detail.

  • Appendix added to Pensions Regulator guidance on governance and reporting of climate-related risks and opportunities for in-scope occupational pension schemes

    March 2022

    The Pensions Regulator added an appendix to its guidance for trustees of in-scope occupational pension schemes on the governance and reporting of climate-related risks and opportunities.

    In scope: In-scope pension scheme trustees

  • New Listing Rules requirement re. board and senior management diversity targets

    1 April 2022 (applies to financial years beginning on or after this date)

    New requirement in Listing Rules for issuers to (1) publish an annual "comply or explain statement" in relation to prescribed board diversity targets; and (2) include numerical data on the sex or gender identity and ethnic diversity of a company's board and senior management.

    In scope: Premium and standard listed UK and overseas companies, including closed-ended investment funds.

  • New disclosure requirement in DTRs re. diversity on board committees

    1 April 2022 (applies to financial years beginning on or after this date)

    New requirement in DTRs to disclose how the company’s diversity policy has applied to its remuneration, audit and nominations committees, having regard to diversity aspects such as ethnicity, sexual orientation, disability and socio-economic background.

    In scope: UK listed issuers 

  • Climate-related financial (CFD) disclosures required of listed companies and large private and public companies and LLPs


    Larger private and AIM-listed companies, and LLPs required to make disclosures aligned with TCFD (Taskforce on Climate-Related Financial Disclosures) recommendations. See our briefing note for more detail.

    In scope: Larger non-premium listed companies, AIM-listed companies, larger private companies and LLPs

    Qualifying conditions: 

    • Turnover ≥£500m*
    • Number of employees ≥500*
      *application of thresholds varies depending on entity type. See our briefing for more detail.

  • Tax returns filed after April 2022 may require disclosure of uncertain tax treatment

    April 2022

    Tax returns filed by large business organisations after this date are required to take into account a new requirement to notify HMRC where the business has adopted an uncertain tax treatment. 

    In scope: Businesses whose UK turnover and/or balance sheet exceeds certain financial thresholds. There are some exceptions, e.g. collective investment schemes

    Qualifying conditions:

    • Turnover greater than or equal to £200m
    • Balance sheet or assets greater than or equal to £2bn

  • ICMA updated Appendix 1 of the Green Bonds Principles

    June 2022

    The Appendix makes a distinction between "Standard Green Use of Proceeds Bonds" (unsecured debt obligation) and "Secured Green Bonds" and to provide further guidance on green covered bonds, securitisations, asset-backed commercial paper, secured notes and other secured structures.

    In scope: Bond issuers

  • EU AIFMs and EU UCITS managers to integrate sustainability risks and factors


    EU AIFMD/EU UCITS – sustainability risks and sustainability factors to be taken into account as part of operating conditions.

    In scope: EU AIFMs; EU UCITS

  • Deadline for transposition of Transparent and Predictable Working Conditions Directive by EU Member States


    The Transparent and Predictable Working Conditions Directive is aimed at improving conditions for casual/zero hours workers - including compensation if an assignment is cancelled without reasonable notice, and a right to request more predictable working conditions after six months.

    In scope: All business organisations operating in the EU

  • Deadline for transposition by member states of the EU Directive on Work-Life Balance

    02 August 2022

    The EU Directive on Work Life Balance grants new rights to leave for families, including four months of parental leave (two months of which are non-transferable between parents) and five days' leave per year for carers.

    In scope: All business organisations in the EU

  • Integration of sustainability into EU MiFID organisational requirements and operating conditions


    EU MiFID II – certain investment firms to integrate sustainability factors, risks and preferences into organisational requirements and operating conditions.

    In scope: Investment firms (financial advisers and portfolio managers)

  • New requirement for pension scheme trustees to calculate and report alignment with Paris Agreement


    Regulations require trustees of occupational pension schemes with £1bn+ in assets to calculate and disclose an additional portfolio alignment metric, setting out the extent to which scheme investments are aligned with the Paris Agreement goal of limiting global temperature increase to 1.5° above pre-industrial levels.

    In scope: Pension scheme trustees

    Qualifying condition: Balance sheet or assets greater than or equal to Pension scheme assets >£1bn

  • TCFD disclosures required of ≥£1bn pension schemes


    TCFD - Trustees of occupational pension schemes with £1billion+ in assets required under Pension Schemes Act 2021 regulations to comply with enhanced climate governance requirements from October 2022, with the first TCFD-aligned public disclosures to be made within seven months of scheme year end. (Schemes with £5bn+ in assets were subject to the requirements a year earlier.)

    In scope: Pension scheme trustees

    Qualifying conditions: Pension scheme assets ≥£1bn

  • UK Sustainability Regime: FCA proposals for Sustainability Disclosure Requirements and investment labels


    FCA published a consultation paper (CP22/20) on Sustainability Disclosure Requirements (SDR) and investment labels. 

    FCA sets out proposals relating to sustainable investment product labels (three labels are proposed – sustainable focus, sustainable improvers and sustainable impact), naming and marketing rules (including a general 'anti-greenwashing' rule) and a Sustainable Disclosure Requirements regime (SDR): consumer facing product-level disclosures, pre-contractual disclosures, ongoing sustainability-related performance information, entity-level disclosures and detailed disclosure requirements for distributors of products.

    See our briefing for further details.

    In scope: All regulated firms (as regards 'anti-greenwashing' rule), otherwise UK asset managers; "portfolio managers" (extends to capture private equity and other private market advisory activities).

  • COP27 took place in Sharm El-Sheikh, Egypt

    6-18 November 2022

    Sharm El Sheikh, Egypt hosts 27th UN Climate Change Conference of the Parties (COP27)

    In scope: All business organisations

  • Sustainability factors to be integrated into EU MiFID II product governance


    EU MiFID II – sustainability factors to be integrated into MiFID II product governance obligations.

    In scope: Investment firms 

  • UK payment and cashflow review


    Review of UK late payment regulatory regime; may recommend additional disclosure obligations on time taken to pay supplier invoices, strengthening of Small Business Commissioner (SBC)'s powers in relation to late payment to small businesses and new rules on late payment clauses and remedies.  See our briefing. On 2 October 2023, the Government announced its support for embedding prompt payments in firms' ESG programmes and noted that tougher measures to tackle late payments to small businesses will be included in the review when published. 

    In scope:

    • In relation to powers of SBC and late payment clauses/remedies:  All UK businesses
    • In relation to disclosure obligations: Could be extended but currently "large" UK companies and LLPs i.e. entities meeting at least 2 of these thresholds:  

    (i) turnover >£36m,
    (ii) balance sheet >£18m;
    (iii) >250 employees.

  • Ban on exclusivity clauses for lower paid workers in force


    The UK Government has introduced a ban on exclusivity clauses in employment contracts for lower paid workers (anyone earning below the lower earnings limit, currently £123 per week). An exclusivity clause is any clause which prevents the worker from working elsewhere (or requires the employer's consent to do so). Such clauses are prohibited in contracts for zero hours workers and, since 5 December 2022, are also unenforceable in contracts for lower paid workers.

    In scope: All business organisations

  • Government sets targets under Environment Act


    UK Government published new targets under the Environment Act, including in respect of biodiversity, waste and air quality.

    In scope: All business organisations

  • Adoption of Kunming-Montreal Global Biodiversity Framework


    Adoption of global biodiversity agreement at COP15.

    In scope: All business organisations

  • ESG disclosure requirements under EU Investment Firms Regulation to apply


    ESG disclosure requirements under EU Investment Firms Regulation to apply

    In scope: Larger investment firms

  • SFDR - Additional reporting requirements may apply (adverse sustainability impacts disclosed at a financial 'product' level)


    Disclosure Regulation (EU) 2019/2088 – key applicable dates for sustainability-related disclosures in the financial sector ("SFDR"): Additional reporting requirements may apply (adverse sustainability impacts disclosed at a financial 'product' level).

    In scope: Banks, investment firms, asset managers, insurers

  • UK proposals for decarbonising Combined Heat and Power plant expected


    Late 2022 (See note on timing)

    Details expected of UK Government proposals to help incentivise transition away from fossil fuel Combined Heat and Power (CHP) plant, potentially including financial incentives.

    NOTE: these were expected in late 2022 but no news as at September 2023.

    In scope: All business organisations operating in the UK

This ESG timeline is for general information purposes only and does not constitute legal or any other type of professional advice. Travers Smith does not accept and, to the extent permitted by law, excludes, liability to any person for any loss which may arise from relying upon, or otherwise using the information contained in, the timeline.

Get in touch

For more information on People issues please contact Ed Mills.

For more information on Sustainable Finance issues, please contact Tim Lewis, Phil Bartram, Michael Raymond, Simon Witney, or Jonathan Gilmour.

For more information on Environment and Climate issues, please contact Doug Bryden or Sarah-Jane Denton.

For more information on Tax issues, please contact Madeline Gowlett or Hannah Manning.

For more information on Pensions issues, please contact Andy Lewis.

For more information on Governance issues, please contact Neal Watson, Doug Bryden, Aisling Arthur, or Carys Clipper.

For more information on Real Estate issues, please contact Alex Millar or Sarah Walker.

For more information on Competition issues, please contact Stephen Whitfield.

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