What is a credible transition plan?

1) When we look at transition plan, we must acknowledge that it is long term plan with a lot of uncertainties and unknown. Hence It is crucial to accept the uncertainties and acknowledged what can be controlled, so to focus on the ones that can be controlled;
2) investment for adaptation has been overlooked and any transition plans should also include adaptation;
3) when analysing transition, it is required to go beyond energy to also include social;
4) As investors, the conversations with companies should focus on where the company see themselves being relevant by 2050. The follow up conversation would be how does that get blended into their business strategy over the next 5 years, who is accountable for, human capital set up for transition, how is the company motivated and assurance of their plans;
5) Scope 3 – the focus should be on what can be controlled i.e., upstream suppliers so to ensure the resiliencies of the supply chain. Asking a company to focus on downstream where the control on the use of product is challenging is not good use of company resources;
6) Offsets – it hasn’t been given the best PR. Offset has a place, as stated by the IPCC scientist. However, it needs to be done right and credible.