Following a sixth month consultation process, the government’s Transition Plan Taskforce (TPT) has officially launched its framework of net zero recommendations for companies.
The document was launched at a virtual event, which was livestreamed from the London Stock Exchange, and attended by LSEG Group CEO David Schwimmer, as well as Treasury Lords Minister Joanna Penn and Aviva CEO Amanda Blanc.
Speaking to Edie, Aviva group chief executive and TPT co-chair Amanda Blanc said: “It’s great to see more and more companies announcing their net zero ambitions, but these are of little use if there’s no action or accountability”.
“Backing up net zero ambitions with high quality and clear transition plans is crucial if we are to collectively deliver net zero. The TPT Disclosure Framework will help businesses understand just what makes a climate transition plan robust and credible”.
The disclosure framework was launched in 2022, with a draft document open to consultation until February 2023 for review.
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The plans include five steps focusing on ambition (for instance on decarbonisation and reducing scope 1,2 and 3 emissions), action (making short, medium and long term goals), accountability (reporting on the delivery of plans).
Commenting on the plans on LinkedIn, sustainability expert Mike Barry described the plans as “great news”.
He continued: “Without the TPT’s work these net zero goals are just words on paper – #greenwash at one extreme or a frightening and dangerous dismantling of complex, high carbon value chains with little thought or route map on how to rebuild them in a #lowcarbon form”.
The update comes as the prime minister has been accused of derailing the UK’s net zero plans by pushing back the date on rules requiring that all new cars sold should be zero emissions vehicles, and relaxing heat pump plans.
