On Friday (25th) HM Treasury ("HMT") launched the UK's Transition Plan Taskforce (the "TPT"). The TPT has been established as part of the UK Government's strategy to green the financial system, which includes requiring large companies and certain financial sector firms (including some asset managers) to publish a climate transition plan from 2023 under the Taskforce on Climate Related Financial Disclosures (or "TCFD") reporting framework.

The UK Government has mandated the TPT to develop a gold standard for UK firms' climate transition plans. The intention is that the TPT will help to drive decarbonisation by ensuring that financial institutions and companies prepare rigorous plans to achieve net zero and support efforts to tackle greenwashing.

Further details of the TPT and its work can be found here. For details of how Burges Salmon can assist with sustainable finance matters, please click here.