UK Finance has extended support in principle for the initiative to mandate in statute climate-related financial disclosures by publicly quoted companies, large private companies and LLPs. We view this as a significant step in support of the UK government meeting its statutory commitment to a  net zero economy by 2050 and the meeting of more immediate interim targets including the acceptance of the independent UK Committee on Climate Change sixth carbon budget recommendation that by 2035 emissions reduce by 78 per cent in comparison to 1990 levels. Our response identifies a number of issues that we believe need thinking through carefully to ensure that the statutory obligation best supports the strategies being put in place by leading organisations to put their businesses onto a net zero path.