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ARTICLE · 15 NOVEMBER 2022

Climate Disclosure: The UK's Transition Plan Taskforce Launches ‘Gold Standard' For Climate Transition Plans

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During last year's COP26, the UK Government announced that it would mandate the disclosure of listed companies' and financial institutions' net zero transition plan...

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During last year's COP26, the UK Government announced that it would mandate the disclosure of listed companies' and financial institutions' net zero transition plan, and that it would form a taskforce to assist private sector actors in doing so.

Coinciding with the start of COP27, the UK's Transition Plan Taskforce ("TPT") - a taskforce with a mandate from His Majesty's Treasury to help enable private sector actors in the UK create robust climate transition plans to fulfil their net zero commitments - on 8 November 2022, published, for consultation, its new Disclosure Framework for companies to disclose their climate transition plans.

Importantly, the Disclosure Framework draws on existing and emerging disclosure regimes, such as the Taskforce on Climate-Related Financial Disclosure ("TCFD") Recommendations and the International Sustainability Standards Board's ("ISSB") Sustainability Disclosure Standards (for more information on the TCFD and ISSB regimes,

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