Who Owns Transition Plan Guidance Now: TPT, IFRS and GFANZ
Two of the three bodies behind transition plan guidance no longer exist in the form their documents suggest. What replaced them, and which framework to cite in 2026.
If you are reading published commentary on climate transition plans, a good deal of it describes a landscape that no longer exists. Two of the three bodies behind the main frameworks have changed fundamentally since 2024, and the documents themselves do not say so.
This is worth getting right, because citing a defunct body as a current authority is the kind of error that a well-briefed reader notices immediately.
The Transition Plan Taskforce closed in October 2024
The TPT was a UK Treasury-convened body that produced the most widely used transition plan disclosure structure. It closed in October 2024, and its disclosure material transferred to the IFRS Foundation.
The documents remain live and remain good. The TPT Disclosure Framework, October 2023, 45 pages, is still the clearest articulation of the structure. The TPT Banks Sector Guidance, April 2024, 40 pages, is still the most useful sector document for a bank, and there is a parallel Asset Managers guidance from the same month.
What has changed is their status. They are inputs to an IFRS Foundation body of work, not the output of a standing taskforce.
The IFRS Foundation is now the authority
On 23 June 2025 the IFRS Foundation published Disclosing information about an entity’s climate-related transition, 66 pages. That is the current reference.
Cite it as the authority. Cite TPT as the structure it is built on. That framing is accurate and it signals to a knowledgeable reader that you have kept up.
GFANZ restructured in January 2025
The Glasgow Financial Alliance for Net Zero produced the other major body of work, particularly for financial institutions: Recommendations and Guidance on Financial Institution Net-zero Transition Plans, November 2022, with five themes and ten components, plus a substantial supporting library covering sectoral pathways, portfolio alignment measurement, managed phaseout of high-emitting assets, and transition finance.
On 31 January 2025 GFANZ restructured into an independent Principals Group and dropped the requirement that users align with the Paris goals.
The framework is still used by a large number of institutions and remains a market reference. But its governance has changed and its future direction is unclear. The specific error to avoid is describing GFANZ to a client as a net-zero alliance commitment mechanism. That is not what it is now.
The good news: the structures agree
Having three overlapping frameworks sounds like a choice to make. In practice it is not much of one.
TPT’s Elements were designed to match GFANZ’s components, and both map to IFRS S2. They were built to be compatible, not competing. A plan built properly to one is substantially a plan built to the others.
So the practical approach is:
- IFRS Foundation guidance as the spine. It is current and it is the authority.
- TPT sector guidance for sector detail, particularly the Banks guidance, which has no real equivalent elsewhere.
- GFANZ material for worked examples and financing levers, particularly the supplemental information with worked policies, metrics and targets, and the APAC case studies, which are the closest published analogue for emerging-market institutions.
What is still open
Two honest gaps.
The UK consulted on mandatory transition plans between June and September 2025. We have not confirmed the outcome. If your position depends on where UK policy landed, verify it rather than assuming.
Transition planning is moving fast generally. Everything above reflects the position as at 28 August 2026. Check the vintage of anything you cite.
How ESGweise helps
We build transition plans to the current IFRS Foundation guidance, using TPT sector detail and GFANZ worked examples where they add value, and we do it without describing defunct bodies as live ones. See our ESG strategy and sustainability reporting services, and our banking and financial services practice.
To discuss a transition plan, talk to us.
Related guides
Frequently asked questions
Does the Transition Plan Taskforce still exist?
No. The TPT closed in October 2024. Its disclosure material transferred to the IFRS Foundation, which published its own guidance in June 2025. The TPT Disclosure Framework of October 2023 and the sector guidance of April 2024 remain live and useful documents, now IFRS-hosted, but the Taskforce itself is not an ongoing body and should not be described as one.
What is the current authority on transition plan disclosure?
The IFRS Foundation's guidance, Disclosing information about an entity's climate-related transition, published on 23 June 2025 and running to 66 pages. Cite that as current, and cite TPT as the structure it is built on rather than as a standalone authority.
Is GFANZ still relevant?
The framework remains widely used and is still a market reference, but GFANZ restructured on 31 January 2025 into an independent Principals Group and dropped the requirement that members align with the Paris goals. Its governance has changed and its future direction is not clear. Do not describe GFANZ to a client as a net-zero alliance commitment mechanism, because that is no longer what it is.
Which framework should we build a transition plan to?
The frameworks agree structurally, so this is rarely a genuine decision. TPT's Elements were designed to match GFANZ's components and both map to IFRS S2. In practice, use the IFRS Foundation guidance as the spine, take sector-specific detail from the TPT sector guidance where it exists, and use GFANZ material for worked examples and financing levers.