Corporate and Finance Sector Net-Zero Transition
Net zero transition plans provide a forward-looking strategy for achieving interim 2030 carbon reduction goals and 2050 net zero emissions pledges. These plans outline goals, actions, and accountability mechanisms to align an organization’s business activities with a pathway to net. zero GHG emissions in line with the Paris Agreement. Key plan elements include metrics and targets, emissions reduction strategies, governance, capital allocation, aligned policy and advocacy activities and considerations for a just transition.
Corporate Net-Zero Transition Planning
According to the IFRS Transition Plan Taskforce (TPT), a corporate transition plan is a detailed outline within a company’s overall strategy that lays out its targets, actions, and resource allocation to transition towards a lower-carbon economy, encompassing both internal decarbonization efforts and engagement with the broader value chain to achieve climate goals, with a focus on clear metrics and governance structures to monitor progress.
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Finance Sector Net-Zero Transition Planning
Financial institutions will take different approaches to achieving net zero targets and prioritize areas of their business depending on factors, including the size of the organization, their business model, influence, operating environment, portfolio and client characteristics, and geographic coverage. Defining these priorities allows an institution to develop a strategic net zero transition plan guided by decisions around resourcing, incentives, analytical processes to modify, and how to adapt priority business units and other core business levers.
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Navigating the Finance Sector Net-Zero Transition
This analysis examines the crucial roles of various financial sector actors in driving and implementing transition plans globally.
Just Transition
C2ES recognizes that the shift to a low-carbon economy, while necessary to address climate change, can have significant impacts on stakeholders such as workers and communities. We advocate for a “just transition” approach that ensures the benefits of clean energy are widely shared and that vulnerable populations are not left behind. By advancing a just transition, C2ES aims to build broader support for climate solutions and create a more just, resilient, sustainable, and equitable clean energy future.
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