In the UK, at the time of writing, there is a consultation by the Transition Plan Taskforce which will create a golden rule for transition plans for companies to follow, which builds on an existing raft of legislation and requirements which started more than a decade ago.

Black Sun hosted a roundtable to support companies navigate the current developments, cut through the noise and discuss the challenges they face. The five actions that came across as imperative for companies that want to be at the forefront of sustainability challenges, including climate and want to spark positive change are:

1. Start collecting data on climate early
   As the reporting demands accelerate both from investors and regulators, the earlier a company starts gathering data, the better prepared it will be.
   
   
2. Report on the data, even if imperfect
   It is far better for a company to report honestly on their imperfect starting point and show their stakeholders they have the steps in place to grow along their journey, rather than not disclose data. No company is reporting perfect data.
   
   
3. Educate colleagues and build internal buy-in
   For a company to advance on its climate and sustainability journey, there needs to be a culture shift. Non-sustainability colleagues at all levels of the business need to be included, which often involves educating even senior leadership.
   
   
4. Invest in a team
   For a company to build climate and sustainability expertise, it is also required to build capacity and invest in people and internal, cross-functional teams.
   
   
5. Keep up with current developments, but note that alignment is on the way
   Although the climate reporting landscape may seem daunting, there are tools to navigate it and efforts are being made at the international level for common standards and frameworks.

To receive a copy of the White Paper, get in touch with our Head of Business Development, Naomi Hawkins.