We have responded to the Government’s consultation on Transition Plans. We welcome the ambition and opportunity presented through the consultation. We recommend that the Government creates a holistic approach for climate reporting, to reduce burdens but increase transparency and ensure a smooth transition to net zero as quickly as possible.

At a time when deregulation is high on Rachel Reeves’ agenda, we would like to see the Government maintain its commitment to Labour’s manifesto pledge of making Transition Plan reporting mandatory. Transition Plans are a vital tool to be used to align the UK economy with its climate targets and to avoid serious financial risk.