The International Transition Plan Network (ITPN) was launched today at COP29, aiming to advance global norms for private sector transition plans. This initiative, supported by climate think tank E3G, is designed to foster collaboration and dialogue among governments, private sector networks, civil society, and academic experts to develop and promote effective transition planning practices.
The ITPN’s purpose is twofold: to encourage the emergence of national and international approaches to transition planning and to serve as a platform for partnerships that support the creation of new frameworks and strategies for private sector transition plans.
Founding Director of ITPN and Associate Director at E3G, Kate Levick said, “The potential for private sector planning to support the global economy’s climate transition is increasingly recognised by governments around the world. For private sector transition plans to fulfil their promise and become established within the global financial system they must provide useful benefits to companies and investors in every country as well as to people, communities, and the environment.”
Developing and disclosing strategic climate transition plans is a relatively new practice within the private sector. However, it is rapidly becoming a global standard, offering a critical opportunity to support a holistic economy-wide climate transition.
Policymakers, regulators, and supervisors around the world are actively discussing transition plans and strategies. Many official sector actors are working to prevent fragmentation in approaches across jurisdictions while exploring policy frameworks to leverage this emerging tool. The ITPN has been established to aid these efforts, bridging gaps and fostering collaboration.
The ITPN comprises Members, an Advisory Group, and a Community of Practice to guide its activities. Members include ministries, regulatory bodies, and international forums interested in sharing insights on transition plan-related policies and regulations. These official sector members will interact with associate members, including private sector networks and standard-setting organisations. Transition planning experts from public, private, and civil society sectors will guide the ITPN’s direction and connect it with global initiatives.
Prominent members of the Advisory Group include Dr. Ben Caldecott, Chair, and Director, Oxford Sustainable Finance Group; Mary Schapiro, Vice Chair, GFANZ; Helena Viñes Fiestas, Commissioner, Spanish Financial Markets Authority; Ma Jun, Chair, Capacity-building Alliance of Sustainable Investment; Masamichi Kono, Former Deputy Secretary General, OECD; Meryam Omi, CEO, Climate Arc; and Fiona Watson, Vice President, WBCSD.
Chair of the ITPN Advisory Group, Dr Ben Caldecott said, “It will rapidly become a no brainer for companies to possess credible transition plans. This will be driven by providers of capital and financial services, governments and regulators, and changing social norms and legal requirements. ITPN will play a critical role in facilitating the effective and rapid adoption of private sector transition plans, thereby driving decarbonisation and the realisation of climate goals.”
Head of ITPN and Programme Leader at E3G, Jacques Morris said, “Additional space for dialogue will support global cooperation on transition planning. Shared approaches, which take into account diverse perspectives, are key to prevent regulatory fragmentation and create market certainty. E3G is well placed to support the ITPN thanks to technical expertise and a strong international network built through co-hosting the TPT Secretariat.”
