Abstract
This chapter presents ten elements of credible corporate transition plans, building on the review of existing approaches to transition plans in Chapter 2 and the challenges encountered by market actors that are identified in Chapter 3. Most existing transition plan approaches cover the following elements: net-zero and interim targets; performance metrics and Key Performance Indicators (KPIs); carbon credits and offsets; actions towards implementation; internal coherence with the company’s business plan; governance and accountability; and transparency and verification. Other elements are largely underdeveloped in existing approaches but are elaborated in this Guidance. They include: consideration of non-climate-related sustainability impacts; integration of corporate transition plans with other sustainable finance tools and tools for Responsible Business Conduct (RBC); just transition aspects; information on prevention of carbon-intensive lock-in; and, where appropriate, tailored approaches for micro, small and medium-sized enterprises (MSMEs) and certain companies in emerging markets and developing economies (EMDEs).
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