Transition Plan Taskforce publishes final report

The Transition Plan Taskforce has finished its work and published its final report, which identifies key opportunities and challenges for global adoption of transition plans.  Dame Amanda Blanc and Tulip Siddiq, Co-chairs of the TPT Steering Group, praised the group’s work. In particular they highlighted the IFRS Foundation assuming responsibility for the disclosure-specific materials, which it did in June. The government has been keen to stress the role that financial institutions can play in helping unlock the economic benefits that climate transition can bring. During its 2.5 year project, the Taskforce has published:

• its Disclosure Framework
• Implementation guidance
• several pieces of sector-specific guidance and
• advisory papers

The Taskforce is pleased to see the momentum that has built up and the UK’s leading role in the international markets. For the future, it has identified 4 key areas to address:

• building market capabilities, practice and sharing experiences;
• developing enabling tools and sharing thought leadership;
• ensuring that transition plans are integrated into decision making; and
• increasing global consistency in transition planning norms and expectations.