16 January 2025: UK Sustainability Disclosures Policy and Implementation Committee (PIC) – summary minutes
Published 4 February 2025
© Crown copyright 2025
This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gov.uk.
Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.
This publication is available at https://www.gov.uk/government/publications/uk-sustainability-disclosures-policy-and-implementation-committee-pic-meeting-minutes-for-2025/16-january-2025-uk-sustainability-disclosures-policy-and-implementation-committee-pic-summary-minutes
UK Sustainability Disclosures Policy and Implementation Committee (PIC)
Summary minutes of the 16th session of the PIC on 16 January 2025.
For more information on the remit and responsibilities of the Policy and Implementation Committee, see our Framework for developing UK Sustainability Reporting Standards, which is referred to as the ‘Framework Document’ in these minutes. Also in these minutes, ‘Committee’ refers to the PIC. ‘The Secretariat’ refers to the PIC secretariat, provided by the Department for Business and Trade (DBT).
1. Carbon offsetting, carbon credits and carbon pricing
The Secretariat presented a paper, with input from the Department for Energy Security and Net Zero, on the carbon credits requirements in IFRS S2.
The Committee discussed the topic, including the position of the International Sustainability Standards Board (ISSB).
2. Any other business, actions and next steps
The Committee noted the process for moving to the forthcoming consultation on the draft UK Sustainability Reporting Standards (UK SRS).