Workplan

Summary and timeline of the work of the Transition Plan Taskforce

Timeline

An indicative timeline of key moments which is non-exhaustive and subject to change

November 2021: TPT announced at COP26

April 2022: TPT begins operations

May - July 2022: Call for Evidence on a sector-neutral framework

October 2022: Sandbox begins on the TPT Disclosure Framework and Implementation Guidance, with focus on preparers of transition plans

November 2022: Consultation begins on the TPT Disclosure Framework and Implementation Guidance

February 2023: Consultation closes on the TPT Disclosure Framework and Implementation Guidance

Early 2023: Sector Mapping published, mapping the Disclosure Framework to existing sector guidance

Spring/summer 2022: Sector Guidance. First set published

Spring 2023: Sandbox for users of transition plans begins

Summer 2023: Final Disclosure Framework and Implementation Guidance published 

Autumn/winter 2023: Final Sector Guidance published

2023-2024: Regulatory updates. FCA consults on changes to its Listing Rules to reference ISSB standards, expected to be adopted in the UK once finalised. FCA also considers TPT outputs as a basis to strengthen its transition plan disclosure expectations of listed companies, asset managers and FCA-regulated asset owners.

Disclosure Framework

A sector-neutral framework which recommends disclosures for high quality transition plans. Builds on ISSB, TCFD and GFANZ. Consultation period Nov 2022-Feb 2023. Final publication summer 2023.

Implementation Guidance

Guidance to support entities to implement the TPT Disclosure Framework. Includes key process steps for preparing a transition plan and interpretative guidance for each sub-element of the Disclosure Framework. 

Technical Annex is published alongside which sets out how the Framework aligns with TCFD and ISSB.

Consultation period Nov 2022-Feb 2023. Final publication summer 2023.

Sandbox

A process to test the Disclosure Framework, Implementation Guidance and sector-specific guidance with groups of preparers, users and specific sectors. Includes an online pilot.

Sector Guidance

Sector-specific guidance to be developed to supplement the TPT Disclosure Framework and Implementation Guidance with recommendations for sector-specific transition plan disclosures.

Engagement

Sandbox

A process to test the Disclosure Framework, Implementation Guidance and sector-specific guidance with groups of preparers, users and specific sectors. Includes an online pilot.

Standard and guidance setters

Engagement with existing and emerging standard setters, such as ISSB, GFANZ and the UN High Level Expert Group on Net Zero Emissions.

Jurisdictions

Engagement with countries considering or implementing climate-related financial disclosures regimes.

Expert advice

Advice from expert groups on topics such as nature, social impacts, carbon credits and fossil fuel phase out.

Non exhaustive list.