The Final Disclosure Framework and Implementation Guidance from the Transition Plan Taskforce has been published, putting the UK on track for mandatory carbon disclosures.

Carbon disclosure would mean that companies must provide detailed statements on future carbon emissions reductions in both their operations and supply chains. The Transition Plan Taskforce (TPT) is an initiative started by the Treasury, and has engaged with other 500 organisations from finance, the real economy, civil society and academia to ensure technical rigour and usability of the TPT’s outputs such as Aviva and Unilever.

In November consultation will begin and then the Government consults on transition plan requirements for large public and private companies. By early 2024 the final Sector Deep Dives and Forward Pathway on transition plans will be published

Publishing the details by the TPT has happened on the day (Monday 9 October) that California has legislated for companies to report carbon emissions. Any company in California with more than $1bn in annual revenue will need to report greenhouse gas emissions.

The California Air Resources Board must put a system in place for reporting emissions by 1 January 2025.

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