Source · Select Committees · Environmental Audit Committee
Recommendation 15
15
Not Addressed
Paragraph: 92
Incorporate company contributions towards halting nature loss within the transition plan framework's strategic ambition.
Recommendation
We welcome the references to nature in the Transition Plan Taskforce’s framework; however, we consider that the framework could go further on nature. We recommend that the Government should take steps to incorporate into the framework the contribution by a company towards halting and reversing nature loss within the overall strategic ambition of its transition plan.
Government Response Summary
The government states the Transition Plan Taskforce (TPT) has launched a Nature Working Group to advise on appropriate integration of nature-related topics into TPT outputs, but does not commit to taking specific steps to incorporate nature loss into the transition plan framework.
Paragraph Reference:
92
Government Response
Not Addressed
HM Government
Not Addressed
The TPT’s core mandate is to develop a framework for corporate and financial institutions’ climate transition plans. In response to stakeholder feedback, the TPT has launched three Working Groups on nature, adaptation and just transition. These groups are providing advice on the appropriate integration of these topics into the TPT’s outputs, noting that the understanding of nature-related transition issues is currently limited to climate ones. The Government has always been clear that UK Sustainability Disclosure Requirements should be underpinned by internationally recognised standards as far as possible, to ensure that environmental issues can be tackled across borders, especially for those firms operating in multiple jurisdictions.