This Practice Note sets out the progress and recommendations to adopt mandatory requirements for certain UK companies to publish a net zero transition plan. In particular, the Practice Note analyses the purpose and scope of HM Treasury (HMT)’s Transition Plan Taskforce (TPT)’s proposals on transition plans and TPT’s relationship with other initiatives, and it also does a deep dive into what a transition plan is and why transition plans are needed. The work of the TPT will inform the Financial Conduct Authority (FCA)’s future regulation of Transition Plan disclosures for listed companies, asset managers and regulated asset owners.