International Transition Plan Network (ITPN)

⏰ Sign up for the IFRS Foundation stakeholder event, which aims to shape a guidance document to support the application of #transitionplan disclosure requirements.   The event seeks input on adapting the Transition Plan Taskforce suite of documents to ensure their worldwide applicability 👇🏽 

💡 ICYMI: Two important releases related to the use of #privatesector transition plans for prudential supervision were made last week.   📝 New EBA Guidance: On the micro-prudential side, the European Banking Authority (EBA) released its final guidelines on managing hashtag #ESG risks: https://lnkd.in/e26MQwXs This makes the EBA the latest regulator to recognise the relevance of #transitionplanning practices to prudential supervision. The guidelines set out specific expectations for transition plans alongside general guidelines on the identification, measurement, management, and monitoring of ESG risks. ✅ A key message is that institutions will need to develop a single, comprehensive strategic planning process that responds to all regulatory requirements, including those related to managing climate-related risks, transparency, and due diligence.   📝 New FSB Report:  On the macro-prudential side, the Financial Stability Board (FSB) published its Report on “The Relevance of Transition Plans for Financial Stability”: https://lnkd.in/dYmrNhqG This provides an early analysis of the role that #transitionplans and planning can play for financial stability purposes and how they can help financial authorities develop a forward-looking perspective of transition pathways and climate-related financial risks at different levels.   ✅ These efforts further underline the relevance of private sector #transitionplanning and plans to a broad range of policy & regulatory use cases. 🌎 Follow ITPN or sign up for our newsletter to stay up to date on the latest developments on all things #transitionplans: https://itpn.global/

📄 In 2024, transition plans were a focal point for international collaboration. Under Brazil’s presidency, the G20 emphasised the role of these plans in embedding long-term strategies and enabling risk management for corporations and financial institutions. The G20's Sustainable Finance Working Group developed high-level principles for private sector transition plans, marking a critical step toward global norms. Key multilateral groups, including the Network for Greening the Financial System (NGFS), the International Organization of Securities Commissions - IOSCO, and the Financial Stability Board (FSB), highlighted the importance of transition plans. These efforts reflect a shared interest in aligning corporate actions with global climate goals. Explore the global significance of transition plans: https://lnkd.in/eJ_4yUP5

📢 The progress of 2024 has demonstrated that #transitionplans are more than a compliance requirement; they are integral to business strategy and sustainable economic growth. With enhanced standardisation, regulatory alignment, and global collaboration, transition plans drive meaningful action across sectors and jurisdictions. Learn more about what happened on the transition plans landscape in 2024: https://lnkd.in/eJ_4yUP5

🌍 The International Transition Plan Network is a new platform that brings together governments, regulators, private sector representatives, transition planning experts and civil society to support the development of global norms in private sector #transitionplanning. The ITPN is supported by E3G staff who also worked in the former Transition Plan Taskforce (TPT) Secretariat, and we are excited to facilitate collaboration to support climate policies worldwide. Learn more about our work: https://lnkd.in/dp_hzV7d

💡 In 2024, jurisdictions worldwide integrated transition plans into regulatory frameworks. From the EU’s phased requirements under the Corporate Sustainability Reporting Directive (CSRD) to Switzerland’s mandatory reporting for public companies, banks, and insurers, there is global momentum. The IFRS Foundation) has taken significant steps by assuming responsibility for the TPT’s disclosure materials. 👉🏼 Discover how regulatory developments are shaping the future of transition plans: https://lnkd.in/eJ_4yUP5

🌎 2024 was a pivotal year for transition plans! Check out the key highlights from Jacques Morris,  Head of the ITPN, and Kate Ryan's, Strategic Partnerships Manager, latest blog and discover how #transitionplans are critical to sustainable economic growth while meeting climate goals. 📖 Read the full blog here: https://lnkd.in/eJ_4yUP5

In his recent interview with the Harvard Advanced Leadership Initiative, Dr Ben Caldecott, Chair of the Advisory Group of the International Transition Plan Network (ITPN), shared his insights on the transformative role of transition plans in global sustainability efforts. He emphasised that transition plans are essential for regulatory oversight, risk management, and aligning private sector actions with public policy goals. Dr Caldecott also discussed the growing importance of sustainability-linked financial instruments, such as green bonds and sustainability-linked loans, which link financing terms directly to climate objectives. To delve deeper into these critical themes, read the full interview here: https://lnkd.in/dAnEN7Fb 

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Another extraordinary year for private sector transition planning!