95% of FTSE 100 companies lack 'credible' transition plans

'Many not where they need to be'

New research from EY found that just 5% of the UK's biggest companies would comply with the draft disclosure framework launched by the Transition Plan Taskforce last November - despite 78% making public commitments to achieve net zero by 2050.

Released last November, the proposals for the TPT framework are still in draft, with the public consultation for feedback closing a month ago (28 February). As part of the so-called UK ‘Green Day' policy releases last week, the government announced its plans to consult on making transition plans mandatory for large businesses, likely impacting the estimated Q3 release of the final framework and guidance. The science-based framework aims to enable all private-sector companies to mobilise their climate targets, acting as the ‘gold standard' to support investor capital allocation decisions....