WOBO thanks “edie” for their prompt update.

The first draft of a new disclosure framework for forthcoming mandatory climate reporting from big businesses in the UK has been published today (8 November) and consultations are now underway.

The Transition Plan Taskforce (TPT) was launched by the Treasury this April, then-Chancellor Rishi Sunak used his platform at COP26 to pledge that large businesses in high-emission sectors would be subjected to new net-zero disclosure requirements from 2023. The requirement is around net-zero transition plans, which support long-term corporate emissions goals with interim milestones and outline the necessary steps to change business models and investment. Plans should also detail how workers will be supported and the need for upskilling and reskilling addressed.

Today, the TPT has published its first proposal for a ‘gold standard’ for net-zero transition plans. It was asked to draw up such a standard to ensure that disclosures are meaningful, unified, and would deliver the emissions reductions they tout.

The proposal consists of a framework, recommending how companies should develop plans and the key elements they should include; and an implementation guidance document. The guidance includes advice on when, where and how to provide net-zero transition plans.  Read more….

UK Plc gets first look at ‘gold standard’ for net-zero transition plans