Updated: May 10
EY analysed Net Zero transition plan material published by FTSE 100 businesses, as of 31 January 2023, and assessed them against the Transition Plan Taskforce’s (TPT) Draft Disclosure Framework.
They concluded that only 5% of the FTSE100 have published ‘credible’ climate transition plans.
This data comes despite the fact that over 80% of UK listed firms say they are committed to becoming Net Zero by 2050.
'The majority of these firms are not backing these ambitions up with interim goals to cut emissions, nor plans on changing investments or up-skilling and re-skilling staff to deliver decarbonisation.'
The Mission Zero report (published by MP Chris Skidmore and based on 1,800 responses from businesses and climate experts) cited skills shortages, a lack of policy clarity, insufficient capital for investible propositions, infrastructure bottlenecks and delays in the planning system as the main risks to the net-zero approach.
An important step between 'setting goals' and 'achieving improved environmental performance' is setting credible transition plans.
Successful implementation requires knowledge about climate change and climate action. That's where Private Goodness can help. You can read about our All Staff Climate Training here.