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UK Taskforce to Issue Guidance on Transition Plans

The UK government has formally launched its Transition Plan Taskforce (TPT) to develop good practice for transition plans and “associated cutting edge metrics” to provide greater visibility to investors and other stakeholders on UK corporates’ low-carbon transition strategies. Reporting initially at the end of 2022, the TPT will make recommendations for a Transition Plan Disclosure Framework and develop detailed sector-specific transition planning templates and guidance with a view to incorporation into UK regulatory frameworks. “By establishing robust criteria and expectations for science-based transition plans, this work should inform the implementation of the UK’s Sustainability Disclosure Requirements and influence international standard setting,” said a statement. The TPT’s steering committee will be co-chaired by John Glen, Economic Secretary to HM Treasury, and Amanda Blanc, Group CEO, Aviva, and includes Sacha Sadan, ESG Director of the Financial Conduct Authority.

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