Climate Transition Action Plans
DEEP DIVE
Moving corporate ambition into action
To meet the pace and scale needed to limit global warming, private sector ambition and commitments need to be translated into actionable, accountable, and science-based plans. For companies, it means developing and implementing Climate Transition Action Plans (CTAPs).
Corporate Climate Action
At Ceres Global in March 2023, former SEC Commissioner Mary Shapiro stated, “If 2021 was the year of mainstreaming net zero commitments and 2022 was the year of target-setting and developing the frameworks to operationalize these commitments, we are now calling 2023 the year of transition plans.” • Corporate appetite Of 13,000 that report to Carbon Disclosure Project (CDP), 4,000 companies are planning to develop a CTAP within the next two years • Investor appetite CTAP-related resolutions increased from 9 in 2022 to 61 resolutions in 2023, with over 50 planned for 2024 • Policy opportunities Regulations and IRA are spurring climate action on disclosures, science-based targets, and CTAPs • Ceres opportunities 20 Company Network members and 20 Shareholder Initiative investors are already seeking hands‑on work with Ceres
| deep dive: climate transition action plans
2023 Leadership Circle Executive Summary | 20
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