Standard setters consider new rules to govern climate plans

ISO and Cen Cenelec are both mulling standards for sectoral and entity-level transition plans

Efforts are underway to create multilateral standards for climate transition plans and sectoral decarbonisation pathways.

The International Standards Organisation (ISO) met yesterday to discuss the possibility of developing a standard for net-zero transition plans.

If it goes ahead, it will provide financial institutions wishing to develop credible climate strategies with high-level principles and guidance on content.

It will build on existing work from the UK Government’s Transition Plan Taskforce and the Glasgow Finance Alliance for Net Zero.

ISO’s Sustainable Finance Committee gathered in Cyprus yesterday to consider the proposal.

Meanwhile, Europe’s official standard setter is turning its attention to rules for sectoral pathways.

The EU’s Cen Cenelec has drafted a document to be circulated among its members, looking at “the requirements and recommendations relative to the construction of a Sectoral Transition Plan for industry decarbonisation”.

According to its website, the standard would be aimed at public organisations, industry bodies, companies or NGOs wishing to establish or monitor sectoral decarbonisation plans. It does not relate to entity-level transition plans.

Among other things, it would outline expectations about how organisations should approach the scoping, engagement, transparency and accountability involved in developing a robust sectoral plan.

Carbon offsetting and direct air capture and storage are among the more controversial parts of the climate transition that have been excluded from the Cen Cenelec work.

Cen Cenelec is a member of ISO, and the two organisations share numerous national standards bodies as members.