New Climate Transition Plan Disclosure Framework Published

On 9 October 2023, the Transition Plan Taskforce (TPT), the UK body responsible for developing a disclosure framework for private sector climate transition plans, published the final version of its Disclosure Framework and Implementation Guidance which sets out good practice for robust and credible transition plan disclosures.

The TPT Framework, while developed in the UK, is designed to have global application and builds on the work of the Task Force on Climate-related Financial Disclosures (TCFD), the International Sustainability Standards Board (ISSB) and the Glasgow Financial Alliance for Net Zero.

To assist entities making transition planning disclosures under the TCFD Recommendations and the ISSB's IFRS S2, the TPT has developed technical mapping documents which pinpoint the TPT Framework guidance relevant to each provision of the TCFD Recommendations and IFRS S2 which relate to transition planning.