Transition Plan Taskforce publishes final set of resources

April 11th, 2024

The Transition Plan Taskforce (TPT) has launched its final sector guidance to help companies and financial institutions to develop their transition plans.

The resources include sector-specific transition plan guidance for asset owners, asset managers and banks as well as industries with high greenhouse gas emissions such as electric utilities and power generators, food and beverage, metals and mining and oil and gas.

The taskforce has also released sector summary guidance, with guidance for 30 different sectors of the global economy and guidance on how to undertake a transition planning cycle.

It also published a paper on the opportunities and challenges of transition plans in emerging markets and developing economies and some independent advisory pieces from TPT Working Groups on adaptation, nature, the Just Transition and SMEs, exploring how transition planning can extend beyond realising net zero.

The TPT said that with publication of this final set of resources, there is now an internationally recognised best practice disclosure framework for transition plans, with a series of resources to support companies globally to mobilise transition finance.

The framework was developed through engagement and testing with over 600 organisations in the UK and globally, across finance, the real economy and civil society.

The TPT was established in April 2022, following COP26 in Glasgow, to develop the gold standard for private sector climate transition plans, which it published in October 2023. It produces resources for companies to help them produce consistent company reports and reduce the complexity of any disclosure requirements they must meet.