Summary and timeline of the work of the Transition Plan Taskforce
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.
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.
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.
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-specific guidance to be developed to supplement the TPT Disclosure Framework and Implementation Guidance with recommendations for sector-specific transition plan disclosures.
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.
Engagement with countries considering or implementing climate-related financial disclosures regimes.
Advice from expert groups on topics such as nature, social impacts, carbon credits and fossil fuel phase out.
Non exhaustive list.