“The UK government recently announced mandatory requirements for listed companies and financial institutions to publish transition plans by 2023, while the influential Task Force on Climate-related Financial Disclosures (TCFD) has provided guidance on climate transition plans since October last year.
Accordingly, individual sectors – and the companies within them – are developing their own transition benchmarks and strategies. In the past week alone, the Investor Leadership Network, an initiative representing some $10trn in assets under management (AUM), and Guernsey Finance, an industry and government initiative, published guidelines for achieving net zero emissions. These come after the UK’s Transition Plan Taskforce completed a consultation on a sector-neutral framework for transition plans in July.”