坚持到底：推进综合转型计划

OCTOBER 2025 Contents •Acknowledgments•Introduction:Climate Transition Plans(CTPs) as the Anchor of Corporate Climate Strategy•Winds at Play in 2025:5 Key Highlights on Climate Transition Plans•Transition Plansof Tomorrow: Moving toward Integration•CaseStudies•Disclaimer Acknowledgements The following report was developed by BSR, asustainable business networkhelpingitsmemberstosee a changing world more clearly, create long-term value, and scale impact. It constitutes afollow-up totheBSR reportCharting the Course:Navigating the Climate Transition Plan Landscapereleased in February 2025. The perspectivesexpressed solely reflect the views of BSR and theauthors and have been informed by desktopresearch, insights and discussions fostered duringBSR-facilitated learning labs. This document was authored by Julie Dugard,VerenaNüchter,andAmeer Azim. Additionally,the authors thank participants in BSR’s webinars,external partners from the World BenchmarkingAlliance, RomainPoivetand DaraKarakolisandcolleagues at BSR for their support in the creationof this report, includingIlona Andersen,GiulioBerruti,Elisabet Font Rovira,Eileen Gallagher,KatjaJuthans,JennaKowalevsky, and BeatrizOsorioMarugán. Any errors that remain are thoseof the authors. Please direct comments orquestions toContact BSR. This report contains research, findings, and recommendations, the content may be revised as thecontext,topicandcompany action ontheclimate transition, and stakeholder expectations evolve andadvance. Suggested Citation Dugard et al., “Stay the Course: Advancing Integrated Transition Plans.” BSR, 2025. Introduction Charting What Comes Next CTPs as the Anchor of Corporate Climate Strategy Climate Transition Plans (CTPs) have become key in guidingcompanies from commitments to concrete action.Somecompaniesare facingpolitical headwinds and stakeholderbacklash in some regions, while others are going full steamahead on CTP development. As some businesses considerslowing down on climate commitments, recent data from theScience Based Targets initiative shows that the number ofcompanies setting climate targets and commitments continues togrow (SBTi, 2025). This report looks back at the key developments in the climatetransition plan landscapeduring 2025, exploring howregulators, investors, and companies have evolved theirexpectations and approaches. It also looks forwardandoffersperspectives on how the future of CTPs may unfold. This reportis a call to stay the course, positioning CTPs as thecornerstone for strategic integration of climate, nature, andpeople goals and the flagship disclosure vehicle in times ofaccelerated change. Five Key Highlights on Climate Transition Plans 2025 marks a turning point in how companies approach climate transition plans.Global standards are converging, and investorscrutiny is intensifying. Looking ahead, the scope of expectations is set to expand further to include nature, adaptation, and the justtransition.In this report, we presentfive key highlightsthat capture the CTP evolving landscape and the implications for business strategy and disclosure: A Wave of New CTPs, Yet Credibility and Rigor Remains Limited Transition Plan Regulations: Progress Amidst Pushback Despite challenges to CSRD, CSDDD, and SEC climate rules, momentum toward CTPs continues to buildglobally. ❑Within the European Union, the proposed Omnibus Simplification Package seeks to clarifyand align climate and transition plan reporting requirements. Notably,the draft ESRS E1now explicitly identifies dependencies as core components of corporate transition planswhich better aligns withIFRSS2. ❑In 2025,new guidance on transition plan disclosure under IFRS S2was released, drawingheavily on theUK Transition Plan Taskforce (TPT) framework,which is the mostcomprehensive CTP framework. Several major economies are now adopting or aligningwith IFRS S2 in some capacity (see themap). ❑At the same time, legislators in other jurisdictions are actively consulting on climatetransition plan disclosure requirements. In Australia, the governmentrana Climate-RelatedTransition PlanningGuidance Consultationfrom August to September 2025, while in theUnited Kingdom, theClimate-related Transition Plan Requirements Consultationran fromJune to September 2025. Together, these developments signal a clear and accelerating trend toward globally consistentand transparent transition planning standards. Transition Plan Regulations: Progress Amidst Pushback This maphighlights some selected transition plan developments. In theEU, the CSRD requires issuers in scope todisclose their CTP. In the updatedESRS E1 draftpost-Omnibusproposal, dependencies has beenadded as part of the core elements of a CTP. Hong KongIn 2025, new climate-relateddisclosure requirements(aligned with IFRS S2) forissuers under theHong KongStock Exchangetake effect. Modeled after the UK TPT, theCanadian TransitionTask Forcelaunchedin October2024 with the aim of developingCTP criteria for