Business Overdrafts
Be financially flexible with a business overdraft.
Credible Transition Plans - Reporting vs Reality
Watch time: 66 mins Added date: 15/11/2024
Discover how corporates and investors are actively shaping their credible transition plan (CTP) to work towards net zero goals.
In Practice: Video Podcast Series
As part of the Reporting vs Reality campaign, In Practice: presents Luke Nicholls, your series host and edie’s publisher, who sits down with industry leaders across business, academia, policy, and investment to discuss the real-world implications and transformative power of credible transition plans.
In Practice: Introducing Credible Transition Plans (CTPs)
In conversation with… Kate Levick, Secretariat Co-Head, Transition Plan Taskforce and Jonas Persson, Managing Director, Head of Sustainability & Client Advisory, Lloyds Corporate & Institutional, who explore how CTPs are essential for organisations to align with global sustainability goals, navigate risks, and capitalise on emerging opportunities.
In Practice: The Role of CTPs in Creating a Just Transition
In conversation with… Nick Robins, Executive Director, Just Transition Finance Lab, London School of Economics and Chinyelu Oranefo, Director, Sustainability & Client Advisory, Lloyds Corporate & Institutional, who delve into the social dimensions of the transition, including workforce impacts and community engagement, the need for transparency and accountability, and much more.
In Practice: Investor Perspectives on CTPs
In conversation with… Jane Goodland, Group Head of Sustainability, LSEG (London Stock Exchange Group) and Jonas Persson, Managing Director, Head of Sustainability & Client Advisory, Lloyds Corporate & Institutional, who highlight the importance of credible and ambitious transition plans in attracting investment and maintaining corporate reputation.
In Practice: 5 Steps to Implement a CTP
In conversation with… Joy Newton, Director, Climate and Sustainability Strategy, Lloyds Corporate & Institutional, who provides practical insights and guidance for organisations developing their CTP, anchored around the Transition Plan Taskforce (TPT) framework of Ambition, Action and Accountability introduced in episode 1.
In Practice: CTPs as a Pathway to Net Zero
In conversation with… Pietro Rocco, Head of Sustainable Finance, The Carbon Trust and Khadija Ali, Group Director, Sustainability and Responsible Business, Lloyds Banking Group who discuss the strategic importance of CTPs in driving innovation and competitiveness, ensuring that organisations not only survive but thrive in a low-carbon economy.
Reporting vs Reality
Lloyds Bank surveyed 100 sustainability leaders and 100 institutional investors to understand the practical implications of developing a credible transition plan and the role it plays in driving action for both corporates and investors.
Key findings:
Corporates focus on setting realistic goals
More than half (53%) of corporates believe there is a need to be realistic about what they can deliver, while 47% described not wanting to go too far and fail.
Yet ambition is considered a key pillar
More than two-thirds (68%) of investors emphasised the importance of an organisation's transition plan in their decision-making process.
Investors are calling for greater transparency
More than two-thirds (69%) of investors said they have called for greater transparency from corporates when measuring ambition and progress.
To ensure the benefits of the transition are shared widely in the form of a Just Transition - credible transition plans will play a crucial role for corporates as they set their sustainability strategies and, most importantly, drive action.
Jonas Persson, Managing Director Head of Sustainability & Client Advisory, Lloyds Corporate & InstitutionalThe race to net zero
The drive to cut greenhouse gas emissions to net zero by 2050 will require an economic transformation on a scale that hasn’t been seen for centuries. Central to this are credible transition plans. These plans are a vital part of a corporates’ business strategy, helping drive and accelerate the systemic changes required to achieve a net zero economy.
Download the report (PDF, 2 MB) to view all the insights from our study, as well as practical guidance that complements the Transition Plan Taskforce (TPT) work.
It’s encouraging that credible transition plans are becoming a core part of conversations between corporates and institutional investors. This research is just one of the steps we’re taking to support our clients as they develop their credible transition plan. We hope it will be a springboard to further collaboration across industry, finance and government in leveraging transition plans to advance on our sustainability journey, providing practical guidance and insight for both corporates and investors.
Joy Newton, Director, Climate and Sustainability Strategy Lloyds Corporate & InstitutionalLloyds Banking Group’s own transition plan
Find out more about Lloyds Banking Group’s own transition plan and how it will support us in delivering our decarbonisation targets to drive real economy impact.
Our plan highlights the progress against ambitions and actions we will take towards the transition, including how we will engage with others to help create the right conditions to enable us to meet our targets. Together, we’re forging a path towards net zero.
Click here to explore our Sustainability Report 2023 (PDF 14MB) – page 116 references credible transition plans.
You may also be interested in:
Sustainability Voices
Season 5 dedicated to the Just Transition is available now, with valuable insights and expert opinion.
What is a Just Transition?
Discover resources on what a Just Transition means in a UK context, financing a Just Transition and how vision must turn into action.
Is your business considering nature?
Explore opportunities to revert nature’s decline amid the challenges and how businesses can understand how they impact and depend on nature.