UK TPT to Consult on Sector-specific Transition Plans  

The UK’s Transition Plan Taskforce (TPT) will consult on sector-specific guidance to accompany its final disclosure framework in November. In a status update report, the TPT outlined plans to create additional sector-specific guidance for the sectors including asset owners, asset management, banking, electric utilities and power generators, food and agriculture, metals and mining, and oil and gas. The TPT’s choice of sectors for detailed guidance was supported by a screening process considering each sector’s greenhouse gas emissions, its need for additional transition finance in the UK context, and the quality of existing guidance available in the market. After consultation with the market on the sector-neutral disclosure framework, the TPT will consider integrating themes such as nature, adaptation and just transition and ensure close alignment with the recently launched International Sustainability Standards Board IFRS S1 and S2 Standards. The sector-neutral disclosure framework, implementation guidance and sector-specific guidance are set to be finalised in Q1 2024.  

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