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  "documentTitle": "CDP Europe Strengthening Europe’s corporate climate transition",
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      "text": "Progress but missing substance in European climate transition plans. This report explores how European companies are translating their climate commitments into action by assessing their progress on developing credible climate transition plans and integrating nature into their broader strategy.",
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      "text": "Every company that impacts our environment needs not only clear targets - but clear plans to deliver and evidence they are doing so.",
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      "text": "Companies with transition plans: 49%",
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      "text": "Around half of European companies (49%) now report having a climate transition plan in place to limit warming to 1.5°C. While progress in developing climate transition plans has been impressive, the depth and detail are often less reassuring.",
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      "text": "Governance being a good example. To illustrate, while almost all companies (99%) have adopted Board-level climate oversight, only half (54%) have integrated climate KPIs into executive compensation.",
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      "text": "Around half of the European companies responding to CDP's questionnaire this year report to have transition plans aligned with the Paris Agreement's 1.5°C limit. Yet when we analyze the ambition and transparency of those plans based on their disclosures to CDP, less than 5% of companies show the advanced transition readiness required to achieve the Paris goal. Most companies also fail to address the economy's impact on nature and its inherent connection with rising temperatures.",
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      "text": "Climate transition plans are critical tools for leadership and Boards directing the initiatives needed to deliver on pledges made. External stakeholders are also demanding to see clear plans that set out concrete steps to drive change over time, and to understand how plans will adapt to shifting dynamics as technology, policy and commercial trade-offs evolve. That's why both the substance and disclosure of transition plans matter.",
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      "text": "Many aspects of companies' transition plans today are promising works-in-progress: adoption is still partial, but heading in the right direction. Even in the areas where the most progress has been made, there are important discrepancies between leaders and laggards.",
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      "text": "Regulators in both the United Kingdom and European Union will be requiring companies to produce public transition plans as soon as next year. Both sets of regulators will also mandate regular disclosures of plans as well as on progress being made toward their objectives.",
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      "text": "Maxfield Weiss, Executive Director CDP Europe",
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      "text": "Every company that impacts our environment needs not only clear targets - but clear plans to deliver and evidence they are doing so. EU regulation will soon bite - it will be the law for companies to have clear plans that transition their business models onto a 1.5 °C footing. And as expectations grow for companies to include nature in their broader transition planning, this report shows most companies still need to step up, and show investors, lenders and regulators that they are ready to act. We don't have time to waste.",
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      "text": "Every company that impacts our environment needs not only clear targets - but clear plans to deliver and evidence they are doing so. EU regulation will soon bite - it will be the law for companies to have clear plans that transition their business models onto a 1.5 °C footing. And as expectations grow for companies to include nature in their broader transition planning, this report shows most companies still need to step up, and show investors, lenders and regulators that they are ready to act. We don't have time to waste. — Maxfield Weiss, Executive Director CDP Europe",
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