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25 July 20222 minute read

Transition Plan Taskforce - DLA Piper responds to Call for Evidence

In response to a recent call for evidence on a sector-neutral framework for private sector transition plans by the Transition Plan Taskforce (TPT), DLA Piper has provided responses on a range of questions regarding the content of a gold standard transition plan.

As a high level summary, we think transition plans should be defined to include clear targets for organisations to meet in their transition to net zero. We consider that transition plans are essential for organisations to have clear targets for their own transition to net zero and for stakeholders, customers, policymakers etc. to have high-level information as to organisations' direction of travel towards net zero.

We have utilised our international firm network to include responses taking into account transition plan initiatives in other jurisdictions. Engagement with developing and utilising transition plans is crucial in our transition to a net zero economy.

Included in our DLA Piper submission are responses to the following questions:

  • How to define a transition plan and other queries to help outline the direction of travel of the TPT, to support and guide companies that are currently developing transition plans.
  • What other financial or non-financial, mandatory or voluntary frameworks and processes are you aware of that the TPT should consider as it proceeds?
  • What principles should guide preparers of transition plans and provide a reference point for users seeking to understand the credibility of disclosed plans?
  • What key elements any private sector transition plan should cover, regardless of the sector of the preparing organisation concerned?

If you would like to discuss this topic further, please reach out to one of our experts.