Get up to speed with a definition of a comprehensive transition plan developed by leading climate organisations. Chapter Zero have highlighted that businesses are at various stages of starting, reviewing, enhancing and testing their transition plans, there is now a need for guidance and a shared framework to make more progress more quickly.
‘We Mean Business’ Coalition, CDP, Ceres, and Environmental Defense Fund (EDF) have consulted with Ramboll Consulting to develop a consensus-driven definition of a comprehensive Climate Transition Action Plan (CTAP). They have reviewed 31 transition plan guidance documents from 17 organisations to identify best-in-class practices and common core transition plan elements. The project also surveyed over 100 companies, investors, and other stakeholders on their needs.
The journey to corporate climate credibility is outlined in three steps:
1. Set science-based goals
2. Develop a Climate Transition Action Plan (CTAP) with four components
- Emissions Reduction Strategy
- Governance and Business Strategy Integration
- Public Policy
- Just Transition
3. Establish accounting and reporting
Chapter Zero recommend you familiarise yourself with this new report to build your own climate literacy and ability to guide boardroom conversations on transition planning.
To find out more click on this
link.