Later this year we expect to see a Forward Pathway that will set out what future works the TPT deems essential if we are to see a strong uptake of useful transition plans. This final advice will likely include recommendations resulting from work by the TPT Working Groups on nature, adaptation and just transition.

What was published?

The materials published by the TPT on the 9th April 2024 include:

• Sector-specific transition plan guidance for Asset Owners, Asset Managers, Banks, Electric Utilities & Power Generators, Food & Beverage, Metals & Mining and Oil & Gas.
• Sector summary guidance, with high level guidance for 30 sectors of the global economy.
• Guidance on the how to undertake a transition planning cycle.
• A paper on the opportunities and challenges of transition plans in emerging markets and developing economies.
• Independent advisory pieces from TPT Working Groups on Adaptation, Nature, JustTransition and SMEs, exploring how transition planning can extend beyond realising net zero

What does this mean? 

Taken together with the TPT’s previous publications, this now means that whichever sector your company is in within the global economy you can access resources and guidance to support your company in building a gold standard transition plan. 

All  these publications were created with the desire to support companies in creating transition plans that were ambitious, clearly stated actions and undertakings, and would hold companies accountable for their transition journey.  

With the TPT’s guidance delivered it is now down to businesses and governments to implement them in a meaningful manner.  

Black Sun’s regulatory and communications expertise can support clients on their journey, whether they are putting together their first transition plan or fleshing out their roadmaps. This is a cornerstone of their transition but also an integral step towards formulating their wider sustainability strategy. If you would like to speak to someone about your climate transitions plans or sustainability strategy please get in touch with our Head of Business Development, Naomi Hawkins.

About Black Sun

Black Sun is a global group of strategic advisors, consultants and stakeholder engagement specialists. We believe that brands and businesses can have a big impact on our society  – they can shape more ethical practices, build more inclusive communities and deliver more sustainable performance. Ultimately, they can spark positive change in the world.

We partner with visionary companies to define and communicate their purpose, strategy and culture and bring to life their value creation story. Our services and solutions directly address the business-critical concerns of today;  best-practice disclosure and accountability through reporting;  protecting reputation and building trust with digital communications and helping businesses to effectively communicate their long-term responsibility and sustainability story.