UK Transition Plan Taskforce delivers ‘gold standard’ framework for companies and financial institutions to tackle climate change

Linklaters is proud that Vanessa Havard-Williams has played a part in the work of the UK Transition Plan Taskforce (TPT), which today has published a best practice Disclosure Framework for climate transition plans so that companies can play their part in the shift to net zero.

At today’s launch, Co-Chairs, Amanda Blanc CEO of Aviva and Baroness Penn, Treasury Lords Minister HM Treasury, called for companies to start their transition plans now using the TPT’s best practice resources.

Additional guidance for preparers and users of climate transition plans has been published today alongside the Disclosure Framework. This guidance includes:

• High-level sectoral guidance across 40 sectors to complement the main Disclosure Framework.
• Guidance on the climate transition planning cycle.
• Technical mappings between the Disclosure Framework and several other well-known reporting frameworks (see Notes to Editors).
• A report on legal considerations for companies preparing reports using the Disclosure Framework.
• Web-based implementation guidance.

See "Build your transition plan" at www.transitiontaskforce.net.

Above, Vanessa reflects on the TPT status update published in July, and the issues addressed in the final Disclosure Framework published today. 

We will be releasing further materials on how lawyers can support transition planning and disclosure later this month.

*Since filming,TPT has indicated that the application date will be for accounting periods from 2025 with first reporting from 2026. However preparers are being encouraged to start applying the TPT Framework straight away.