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Advisory paper

Putting People at the Heart of Transition Plans

Key steps and metrics for issuers

The Just Transition Working Group has issued an advisory paper that serves as a ‘one-stop shop’ for just transition metrics. The paper reviews, maps, and aggregates the metrics from 13 relevant disclosure frameworks. It should be read alongside the spreadsheet document, A Compendium of Just Transition Relevant Metrics in 13 Disclosure Frameworks: April 2024, which can be found here.

The paper was developed independently of the Transition Plan Taskforce (TPT) steering group and delivery group.

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In 2023, the Just Transition Working Group (chaired by Nick Robins and Brendan Curran from the Just Transition Finance Lab and Bella Landymore of the Impact Investing Institute) advised the TPT on how to further incorporate just transition into the TPT Disclosure Framework and suite of sector guidance. This paper is the last output of the working group, which concluded with a series of meetings held between April 2023 and February 2024.

The TPT Disclosure Framework defines the just transition as the process of “anticipating, assessing, and addressing the social risks and opportunities of the transition to a low-GHG [greenhouse gas] emissions and climate-resilient development, as well as ensuring meaningful dialogue and participation for impacted groups (including workers, communities, supply chains, and consumers) in transition planning.”

There has been a proliferation of transition plans that focus on mitigation and emissions reduction goals, but how to achieve them remains unclear, especially with regard to the social and people-related aspects. Aligning and allocating finance for just transition requires greater technical clarity on what should be reported and how to report it.

The paper is primarily aimed at issuers seeking to strengthen their just transition plans. It is also useful for investors, and other stakeholders in the investment community, in terms of their engagement and assessment efforts. In addition, the analysis offers valuable insights for aid regulators, standard setting agencies, and policymakers aiming to design and implement more holistic just transition strategies and disclosure guidelines.

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