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Paperwork won’t prepare us for climate change. Planning might

UNSW Sydney · last updated

Treasury’s draft climate planning playbook signals progress – but also exposes blind spots.

As global climate talks at COP30 shift from setting lofty targets to transforming the systems that will get us there, Australia has been quietly strengthening its climate resilience rulebook.

We’re making headway – but Treasury’s draft Transition Planning Guidance shows we’re not there yet. 

The proposal aims to make transition plans more transparent and comparable, helping capital flow toward businesses genuinely preparing for a decarbonising and warming world. 

The problem is one of focus. While the draft sensibly aligns with global standards, the IFRS Transition Plan Taskforce (TPT) framework it’s modelled from is largely about disclosure – what companies report at the end of the process.

The danger? Glossy transition plans that look credible on paper but fail to guide the right investment or adaptation decisions.

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