KBRA UK (KBRA) releases research on the climate transition readiness of the largest companies in the UK. The UK government's Transition Plan Taskforce (TPT) released in October 2023 its framework outlining voluntary climate transition disclosure for UK companies. Although the transition disclosure is currently voluntary, UK regulators, including the country's financial services regulatory body, the Financial Conduct Authority (FCA), have signalled that the disclosure of transition plans is likely to become mandatory in the coming years.
As the effects of climate change grow in severity and governments continue to set and progress towards greenhouse gas (GHG) emissions reductions goals, transition planning is becoming a critical tool for companies to reduce their emissions footprint and minimise financial risk over the long term. Regulatory bodies are increasingly focused on transparency and disclosure of corporate transition plans, including the FCA, the US Securities and Exchange Commission (SEC), and the European Securities and Markets Authority (ESMA) in the EU.
This KBRA report provides an overview of the TPT's climate transition guidance and, using carbon emissions data from Emmi, analyses the preparedness of the largest UK companies to transition to a low carbon economy. Emmi is a data vendor that provides estimations for corporate carbon emissions to analyse how future carbon constraints will translate to carbon transition risk.
Click here to view the report.
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About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA's ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
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Contacts:
Emilie Nadler, Director
+44 20 8148 1060
emilie.nadler@kbra.com
Pat Welch, Chief ESG and Ratings Policy Officer
+1 646-731-2481
patrick.welch@kbra.com
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Adam Tempkin, Director of Communications
+1 646-731-1347
adam.tempkin@kbra.com
