Transition Plan Taskforce

On 9 April 2024, the TPT released the following Guidance documents:

• Asset Owners Guidance Document
• Asset Managers Guidance Document

The TPT was announced at COP26 in Glasgow and launched in April 2022 to establish the gold standard for transition plans and produce guidance for preparers and users of climate transition plans, including Asset Managers and Asset Owners.

The TPT has engaged globally with financial institutions, real economy corporates, policymakers, regulators and civil society to develop its materials.

Disclosure Framework

In October 2023, the Transition Plan Taskforce (TPT) published its final Disclosure Framework, as part of a wider suite of Implementation Guidance. The Disclosure Framework contains the foundational disclosure recommendations which apply to all sectors. It is designed to complement, and build on, the ISSB’s final Standards IFRS S1 and S2, as well as drawing on GFANZ’s framework and guidance for credible, comprehensive, and comparable net zero transition planning and uses the same core components and structure. 

Near the end of 2023, the Transition Plan Taskforce (TPT) consulted on draft Sector Guidance for preparers and users of climate transition plans, including Asset Managers and Asset Owners. These Guidances add further depth and detail for preparers of transition plans that are operating in the Asset Management and Asset Owners sector. 

Part One of each Guidance (Introduction) introduces the sector context and how the Guidance is to be used alongside the Disclosure Framework and wider TPT Guidance. Part Two of each Guidances (Interpreting the Disclosure Framework) provides suggestions of disclosures and further guidance and resources for entities to consider.

AREF's Public Policy Committee and ESG & Impact Investing Committee will continue to monitor the output from the TPT. In January 2024, the TPT were provided with a copy of the ESG metrics for real estate paper.