Slaughter and May is advising on the Transition Plan Taskforce Disclosure Framework
Slaughter and May today announces it is advising the Secretariat to UK's Transition Plan Taskforce (TPT) in relation to the TPT's Transition Plan Disclosure Framework and Sector Guidance.
The TPT was launched by HM Treasury in April 2022 to develop the ‘gold standard’ for private sector climate transition plans and includes expert representatives from companies, financial institutions, regulators, policymakers, civil society, and academia.
The TPT’s Transition Plan Disclosure Framework was launched on 9 October 2023, and the more detailed Sector Guidance for a number of sectors, including financial institutions, asset owners and asset managers, was published for consultation on 13 November 2023.
Slaughter and May, in collaboration with Clifford Chance LLP and Linklaters LLP, advised the Secretariat on various issues during the development of the framework, including legal issues raised during the consultation stage, and undertook a legal review of the detailed sector guidance for banks, asset owners and asset managers.
Partner and Head of Sustainability David Watkins said, “We are delighted to have supported the TPT Secretariat in relation to the publication of the TPT Disclosure Framework. As more companies and other organisations commit to net-zero targets, it is vital to have a well-structured and clear disclosure framework in place to enable companies to present their plans in a consistent way, which in turn will make it easier for stakeholders to properly understand and assess them. The launch of the TPT’s Disclosure Framework represents a significant milestone in achieving this goal and it has been truly wonderful to be part of it.”