IFRS Sustainability Knowledge Hub
In June 2024 the IFRS Foundation assumed responsibility for the disclosure-specific materials developed by the Transition Plan Taskforce (TPT). This material, including the sector guidance (see below), will be housed on the IFRS Sustainability Knowledge Hub.
TPT Asset Owners & Asset Managers Sector Guidance
After consulting with stakeholders in late 2023, the TPT released the following Sector Guidance documents in April 2024:
The Sector Guidance is for preparers and users of climate transition plans, including Asset Managers and Asset Owners. The Guidance adds further depth and detail for preparers of transition plans that are operating in the Asset Management and Asset Owners sector.
Part One of each Guidance (Introduction) introduces the sector context and how the Guidance is to be used alongside the Disclosure Framework and wider TPT Guidance. Part Two of each Guidances (Interpreting the Disclosure Framework) provides suggestions of disclosures and further guidance and resources for entities to consider.
TPT Disclosure Framework
In October 2023, the Transition Plan Taskforce (TPT) published its final Disclosure Framework, as part of a wider suite of Implementation Guidance. The Disclosure Framework contains the foundational disclosure recommendations which apply to all sectors. It is designed to complement, and build on, the ISSB’s final Standards IFRS S1 and S2, as well as drawing on the Glasgow Finance Alliance for Net Zero (GFANZ) framework and guidance for credible, comprehensive, and comparable net zero transition planning and uses the same core components and structure.
What is the Transition Plan Taskforce (TPT)?
The TPT was announced at COP26 in Glasgow and launched in April 2022 to establish the gold standard for transition plans and produce guidance for preparers and users of climate transition plans, including Asset Managers and Asset Owners.
The TPT has engaged globally with financial institutions, real economy corporates, policymakers, regulators and civil society to develop its materials.
AREF's Public Policy Committee and ESG & Impact Investing Committee will continue to monitor the output from the TPT. In January 2024, the TPT were provided with a copy of the ESG metrics for real estate paper.
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