This week the Transition Plan Taskforce launched its ‘gold standard’ disclosure framework for companies and financial institutions to tackle climate change.
With an audience at London Stock Exchange of 120 invited guests, and an online audience from around the globe, Co-Chairs, Amanda Blanc CEO of Aviva and Baroness Penn, Treasury Lords Minister HM Treasury called for companies to start their transition plans now using the TPT’s best practice resources.
The Disclosure Framework provides the basis for companies to set out credible and robust climate transition plans as part of annual reporting on forward business strategy. The Framework will support the creation of consistent, comparable company reports, and reduce the level of complexity faced by firms disclosing climate-related information.
Additional guidance for preparers and users of climate transition plans has been published alongside the Disclosure Framework to help them to Build your transition plan. This guidance includes:
• High-level sectoral guidance across 40 sectors to complement the main Disclosure Framework.
• Guidance on the climate transition planning cycle.
• Technical mappings and comparison between the Disclosure Framework and several other well-known reporting frameworks (see Notes to Editors).
• Legal considerations for companies preparing reports using the Disclosure Framework.
• Web-based implementation guidance.
Pictured above, Sue Lloyd, Vice-Chair, ISSB; David Schwimmer, Group CEO, LSEG; Mary Schapiro, Vice-Chair, GFANZ; Julia Hoggett, CEO, London Stock Exchange; Amanda Blanc, CEO, Aviva Group, and TPT Co-Chair; Baroness Penn, Treasury Lords Minister, and TPT Co-Chair; Ashley Alder, Chairman FCA; Kate Levick, Co-Head TPT; and Jacques Morris, TPT Team Lead.
The launch event also featured a discussion on implementation of transition plans. Chaired by James Close, Head of Climate Change, Nat West, the panel included Michael Marks, Head of Investment Stewardship & Responsible Investing Integration, LGIM; Harriet Cullum, Head of ESG Insights, Diageo; and Marija Rompani, Director of Sustainability and Ethics, John Lewis Partnership.