Transition Plan Taskforce: a sector-neutral framework for private sector transition plans

ClientEarth argues that the TPT framework must mandate absolute emissions reductions aligned with a 1.5°C scenario, including Scope 3 emissions, and prohibit reliance on offsets. The organization emphasizes the need for transition plans to be integrated into financial statements and for named directors to be held accountable for delivery. It specifically calls for the prioritization of high-emitting sectors and the inclusion of 'financed emissions' for financial institutions to ensure real-world decarbonization.

• The TPT framework should mandate that company climate targets and emissions trajectories are compatible with a 1.5 °C low or no-overshoot scenario by 2050, requiring absolute emissions reductions of 45% by 2030 on a cross-sector global basis.
• Transition plans must prioritize absolute emissions reductions over emissions intensity targets, as the latter can be used to obscure a lack of actual emissions cuts.
• Carbon offsets, GHG removals, and avoided emissions should not be used to meet emissions reduction targets but should instead be disclosed separately as 'contributions'.
• Companies should be required to include all emissions from their entire business and value chain, specifically including Scope 3, and data gaps should not justify the exclusion of material emissions.
• Transition plan disclosures must be integrated into company financial statements, including the notes to the accounts, to ensure that climate-related risks and commitments are reflected in the company's financial position.
• To ensure accountability, the framework should require the appointment of a named board director responsible for the transition plan and the alignment of remuneration and incentives with its delivery.
• The TPT should prioritize the development of templates for high-emitting real-economy sectors, including energy supply, industry, agriculture, forestry and land use (AFOLU), transport, and buildings.
• Financial institution frameworks must cover global financed emissions and include strategies to wind down activities fundamentally incompatible with the Paris Agreement, such as new oil and gas development and thermal coal.
• Corporate lobbying, both direct and indirect, must be aligned with the goal of halving emissions by 2030 and reaching global net zero by 2050.
• The framework should incorporate Just Transition principles and safeguards to ensure that climate strategies do not cause significant harm to nature and biodiversity.

APA

ClientEarth (2022). Transition Plan Taskforce: a sector-neutral framework for private sector transition plans. https://www.clientearth.org/media/l1jbgbfr/2022-07-13-clientearth-tpt-cfe-response-as-submitted.pdf

Chicago

ClientEarth. Transition Plan Taskforce: a sector-neutral framework for private sector transition plans. 2022. https://www.clientearth.org/media/l1jbgbfr/2022-07-13-clientearth-tpt-cfe-response-as-submitted.pdf.

Wikipedia

{{cite press release |author=ClientEarth |title=Transition Plan Taskforce: a sector-neutral framework for private sector transition plans |date=July 2022 |url=https://www.clientearth.org/media/l1jbgbfr/2022-07-13-clientearth-tpt-cfe-response-as-submitted.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{clientearth2022transition, author = {{ClientEarth}}, title = {{Transition Plan Taskforce: a sector-neutral framework for private sector transition plans}}, publisher = {ClientEarth}, year = {2022}, month = jul, url = {https://www.clientearth.org/media/l1jbgbfr/2022-07-13-clientearth-tpt-cfe-response-as-submitted.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }