TPT to publish sector-specific guidance alongside Disclosure Framework
Published August 18, 2023
The Transition Plan Taskforce (TPT) is to publish a suite of sector-specific guidance to augment its forthcoming Disclosure Framework.
The guidance will cover seven sectors, from asset management to agriculture to oil and gas. It will be published for consultation later this year and finalised in early 2024.
The TPT plans to publish the final Disclosure Framework in October 2023, which is intended to set the standard for transition plan disclosures in the private sector. A final version of its sector-neutral Implementation Guidance will be available by February 2024.
The following is the set of sectors the TPT is developing detailed guidance for:
• Asset Management
• Asset Owners
• Electric Utilities and Power Generators
• Food and Agriculture
• Metals and Mining
• Oil and Gas
At the end of February, the TPT concluded a consultation period on the Framework. Respondents called for further guidance on implementation along with examples, and case studies.The TPT has committed to make adjustments to the Disclosure Framework on key implementation challenges and to ensure international alignment.
The first piece of sector-specific guidance will provide a high-level overview of existing third-party guidance relevant to a select number of Disclosure Framework Sub-Elements. This high-level sector guidance will be published in Q4 2023 for comment. The guide will cover a number of financial and real economy sectors.
The second piece of sector-specific guidance will provide a small number of sectors with detailed guidance to supplement the Disclosure Framework. The guidance identifies the most relevant Disclosure Framework Sub-Elements for each sector and provides additional sector-specific disclosures and guidance. This detailed guidance will be published in November 2023 for consultation.
The TPT identified sectors for which additional guidance would be beneficial in kick-starting transition plan disclosures, while also identifying opportunities to leverage existing sectoral guidance and consolidate it into the context of the Disclosure Framework.