Guidelines for Developing a Credible Transition Plan

Baltic Banking Associations publish guide for companies on developing transition plans

The Baltic Banking Associations have published a guide to help companies develop credible transition plans step by step. Its purpose is to give businesses practical support in understanding their climate impacts and risks, setting realistic goals and planning actions that help make their business model more resilient for the future.

Climate-related expectations are increasingly becoming part of everyday business decisions, beginning with customer and partner requirements and extending to access to finance. A well-considered transition plan helps a company to understand where it stands today, where it wants to go in the future and how it plans to get there. It is no longer only a sustainability issue - it is also a question of competitiveness and business resilience.

This guide is designed to support companies of different sizes and at varying levels of readiness to respond to growing climate-related requirements and expectations and, therefore, it is relevant both for those just starting out and for those looking to make their existing approach more structured. To support this, the guide is structured in four main steps: understanding the company’s current position, setting direction, turning ambition into concrete action and monitoring and communicating progress.

For many companies, climate-related expectations are rapidly becoming part of everyday business. The purpose of this guide is to help companies understand where to start, which questions to ask and how to build a credible transition plan that can be discussed with banks and investors.

The Baltic Banking Associations believe that strong transition plans can help companies adapt to the changing world, strengthen relationships with their partners and financiers and, just as importantly, open up new opportunities for growth. This guide is there to support companies along the way and help turn ambition into real, tangible progress.

Guidelines for preparing transition plans are available for download here: Guidelines for Developing a Credible Transition Plan_Summary.pdf