PKF Littlejohn

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UK net zero transition plans: TPT Disclosure Framework, ISSB/TCFD alignment and emerging FCA and government requirements for listed companies, financial institutions and large private companies
PRACTICE NOTES
UK net zero transition plans: TPT Disclosure Framework, ISSB/TCFD alignment and emerging FCA and government requirements for listed companies, financial institutions and large private companies
ARCHIVED This Practice Note is archived and not maintained. Introduction This Practice Note outlines proposals to introduce compulsory obligations for particular UK companies to disclose a net zero transition plan. Although reporting such plans is not yet mandatory, many businesses already publicise their net zero pledges voluntarily under the ‘comply or explain’ requirements for listed issuers. On 9 October, 2023, the Transition Plan Taskforce (TPT) released a best-practice, standardised disclosure framework for climate transition plans. Alongside this, the TPT’s Co-Chairs, Amanda Blanc, CEO of Aviva, and Baroness Penn, Treasury Lords Minister HM Treasury, encouraged companies to use the TPT’s resources to begin their transition to Net Zero. There has long been an expectation that compulsory rules would follow the TPT’s creation of this gold‑standard Disclosure Framework. This Practice Note concentrates on the TPT’s standardised Disclosure Framework for climate transition plans and the related guidance. Topics include net zero
Financial Services
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