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TPT Issues Guidance Consultation on Seven Sectors

The UK’s Transition Plan Taskforce (TPT) has presented seven sector-specific guidance documents for consultation. The objective of the guidance is to help climate transition plans users and preparers interpret the final TPT Disclosure Framework in more detail through sector “deep dives”. The seven sectors covered in the guidance include asset owners, asset managers, banks, electric utilities and power generators, food and beverage, metals and mining, and oil and gas. The TPT noted that its disclosure framework provides the basis for firms to set out “credible and robust” transition plans as part of annual forward business strategy reporting. Kate Levick, Co-Head of the TPT, said: “The sectors selected by TPT will all be important for the UK and global transition, the drafts launched today are intended to support the delivery of credible and robust transition plans by firms which can stimulate investment and economic growth.” The consultation is open until 29 December and is expected to be followed by a finalised sector-neutral disclosure framework, implementation guidance and sector-specific guidance from the TPT in Q1 2024. 

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