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At COP26, the Chancellor announced that financial sector firms and listed companies will have to publish clear, deliverable transition plans in 2023, setting out how they will decarbonise and transition to net zero. This will be implemented by the Financial Conduct Authority as part of the regulatory regime.
Following the Chancellor’s announcement, HM Treasury launched a Transition Plan Taskforce (TPT) in April 2022 to provide companies with guidance of what transition plans should look like and in November 2022 the TPT published their Disclosure Framework and Implementation Guidance for gold standard transition plans, which is under consultation until 28 February 2023.
City & Financial Global’s timely summit on the 7th of February will provide practical, detailed guidance about the steps that financial firms and companies need to be taking now in order to ensure that they are prepared to meet regulatory expectations and produce transition plans of the required standard.
This summit will gather some of the most senior leaders and experts in this field to share their knowledge, experience and expertise on the steps companies should be taking now to develop a transition plan within the prescribed time limit.
Early adopters will reap significant competitive advantage in relation to their stakeholders and market perception. Attendance at this summit will be invaluable for financial institutions and listed companies.
Key themes to be discussed
- Update on the work of the Transition Plan Taskforce
- The FCA’s expectations about FCA transition plans
- Developing international standards for corporate transition plans
- Transition plan requirements under the EU’s Corporate Sustainability Reporting Directive
- Design requirements for a compliant transition plan
- Scenario planning
- Governance and legal issues arising from transition plans
- Third-party verification and assurance issues
- Linkage between the transition plan and TCFD and TNFD reporting
- User expectations of climate transition plans