📝 IFRS publishes Climate Transition Plan guidance

👋 Hi there, Good morning. Last week, London Climate Action Week was in full swing in the UK, and the Bonn climate talks were underway, and we’re bringing you the latest.✨

In this week’s edition:
1. Last week’s top climate news - IFRS publishes Climate Transition Plan guidance
2. TrimTab Nudge - Conduct a carbon footprint assessment
3. And other news including - Microsoft signs a carbon removal deal; Bonn climate talks end with 10% funding boost; GRI releases new climate and energy reporting standards

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And now, here’s what you need to know for w/c 30th of June 2025 in 5 minutes.

TOP STORY
IFRS publishes Climate Transition Plan guidance

🔎  What’s going on?
Last week, the International Financial Reporting Standards (IFRS) Foundation, through the International Sustainability Standards Board (ISSB), released guidance to help companies disclose climate transition plans clearly and credibly.

✏️ What does this mean?
A climate transition plan is like a GPS for a company’s net-zero journey. It outlines how an organisation will move from current operations to a low-carbon future, aligned with goals like the Paris Agreement. Many companies have pledged net-zero, but few have shown how they’ll get there. The new ISSB guidance changes that.

Companies are now expected to:
- Provide real plans—not just pledges—including short-term targets and strong governance
- Explain how their spending, business strategy, and operations support a low-carbon future
- Be transparent about actual emissions reductions vs. carbon offset use
- Disclose risks, dependencies, and assumptions behind their plans

This integrates climate action into core financial reporting, not just sustainability disclosures.

❓ Why should I care?
Transition plans are not static PR documents — they’re living strategies, much like business strategies, and should be updated regularly. They turn net-zero targets into actionable roadmaps, outlining what actions will be taken, when, and at what cost. A credible transition plan isn’t just a sustainability disclosure — it’s embedded in the company’s core business strategy. A well-thought-out plan helps differentiate companies that are genuinely acting on climate. It also enables investors to assess climate-related risks and opportunities, and reduces the risk of greenwashing, especially when the plan is public and verifiable.

🚦 Where do we need to be?
We need to be in a world where net-zero claims are credible, science-aligned and backed by real action. Where investors and stakeholders can trust corporate disclosures. This guidance moves us closer towards this reality where companies are also reducing their emissions in line with the global carbon budget, rather than just offsetting them. And financial systems are set up to channel capital towards low-carbon and resilient business models.

👤 What can I do about it?
If your company has a climate transition plan, then:
- Assess your company’s climate plan against the new guidance
- Identify any gaps, like whether the plan includes short-term goals, clear leadership, or an allocated budget to deliver it.

If your company doesn’t have a climate transition plan, then:
- Begin by measuring your company’s carbon footprint
- Build a credible plan with clear targets, timelines, and responsibilities, using the IFRS guidance as a framework

TRIMTAB NUDGE™
Small actions. Massive impact.
In systems thinking, a TrimTab is a small adjustment that redirects a much larger system, like the miniature rudder that turns a ship’s main rudder. Inspired by this idea, a TrimTab Nudge is a small, strategic action business leaders can take today to help shift complex systems — from climate to culture — in the right direction.
Each week, we’ll share one powerful, high-leverage nudge you can act on with minimal effort but maximum impact. These nudges can be an idea, action or innovation that creates ripple effects across systems, influencing how businesses, policies, or investments shape our planet.

TrimTab Nudge: Conduct a Carbon Footprint Assessment 📈

🧭 What it is:
A carbon footprint assessment measures the greenhouse gas (GHG) emissions from your company’s operations, energy use, supply chain, and more. It’s often divided into Scope 1 (direct), Scope 2 (energy), and Scope 3 (indirect/supply chain) emissions.

💡 Why it matters:
You can’t reduce what you don’t measure. A footprint is the first step in identifying your biggest emission sources and setting targeted, achievable reduction strategies. It’s also a key foundation for credible climate commitments.

🌊 Systemic ripple effect:
Once a business knows where its emissions come from, it can prioritise actions that ripple outward, from choosing better suppliers to redesigning products and logistics. When done collectively, this drives demand for decarbonisation across entire industries.

📈 Example:
Patagonia publicly shares its carbon footprint and uses it to continuously improve product design, material sourcing, and logistics with a lower climate impact.

✅ Take action today:
→ Start with a basic footprint using the GHG Protocol guidance and free or low-cost tools (e.g. GHG Protocol tools).
→ Focus first on Scopes 1 and 2, then expand to Scope 3.
→ Identify your top 3 emission hotspots and brainstorm practical changes.

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🎯 THINGS TO KNOW

Corporate Responsibility & Leadership
> Microsoft Signs Deal for 4.8 Million Tons of Carbon Removal Generated Through Improved Forest Management
> JPMorganChase Signs 10-Year DAC Carbon Removal Deal with Oxy’s 1PointFIve
> OVO publishes first transition plan, implores UK Government to make electricity cheaper for all
> Chinese battery giant and Tesla supplier CATL is expanding globally: Here’s why it matters

Biodiversity & Nature-Based Solutions
> Trump Administration to End Protections for 58 Million Acres of National Forests
> Microsoft Signs Deal to Remove 2.6 Million Tons of Carbon Through Sustainable Agriculture
> Reckitt, GSK and Edeka join global programme to restore freshwater ecosystems

Sustainability Innovations
> Shipping is one of the world’s dirtiest industries – could this invention finally clean up cargo fleets?
> Target, Gap Partner with Cleantech Startup Syre to Scale Circular Materials in Textiles
> Stella McCartney’s New Sneakers Smell Like Spice and Think Like a Forest
> Fiat launches industry-first car using recycled material from used beverage cartons

Climate & Nature Finance
> Plans for UK to become sustainable finance capital of the world
> Slovenia Raises €1 Billion in First Sustainability Linked Bond Offering by European Sovereign
> Volkswagen Bank Issues Inaugural €1.5 Billion Green Bond to Finance Electric Vehicles

Policy & Regulation
> Bonn climate talks end with agreement on 10% funding boost for UNFCCC
> Singapore Releases Guidance for Use of Carbon Credits to Meet Decarbonization Goals
> China breaks more records with surge in solar and wind power

Reporting & Standards
> GRI Releases New Climate and Energy Reporting Standards
> GRI Launches Digital Taxonomy to Enable Machine Readable Sustainability Disclosures
> UK Releases Proposed Sustainability and Climate Reporting Standards

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