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....

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

Spring Budget 24: Treasury confirms regulation of ESG ratings
ESG

Spring Budget 24: Treasury confirms regulation of ESG ratings

Holding statement

James Baxter-Derrington
clock 06 March 2024 • 1 min read
Victory Hill Capital Partners' Lum: Short-term politics harms our climate future
ESG

Victory Hill Capital Partners' Lum: Short-term politics harms our climate future

'The green politics of envy'

Richard Lum
clock 05 March 2024 • 4 min read
Rathbones anti-slavery engagement push gains support from 154 investors
ESG

Rathbones anti-slavery engagement push gains support from 154 investors

Fifth year in a row

Cristian Angeloni
clock 04 March 2024 • 2 min read
Trustpilot