CR21020 Net-zero transition plans for non-financial corporates: assessing motivations, challenges, and the role of TCFD disclosure

**THIS IS NOT A CALL FOR COMPETITION** This was made under Crown Commercial Services Research Marketplace Dynamic Purchasing System RM6018

The first objective of this project is to analyse transition plans set by companies (excluding those in the financial sector) to meet Paris aligned or Net Zero climate targets; and then draw out common characteristics and examples of best practice from case studies. Developing this understanding is crucial for policymakers. As more and more firms set climate targets, supporting the disclosure of clear transition plans to meet these targets could become a policy priority for the UK government and regulators.

The second objective of this project is to understand the motivation for companies to set these targets, as well as barriers they may have faced. This will inform COP26 business engagement to encourage companies to set climate targets through the "Race to Zero" campaign. The research should identify the major drivers for setting Paris-aligned or Net Zero targets - e.g. drivers within the company, economic incentives, engagement by investors, engagement by other stakeholders or action by government In addition, this research should explore potential links between climate-related disclosures and the setting of those targets. This will support the continued efforts of UK policymakers to advance TCFD-aligned disclosures in the UK. One motivation for companies to set Paris-aligned or Net Zero targets could be managing material long-term physical and transition climate risks.