---
title: Transition Plan
date: 2024-03-27T13:21:28Z
modified: 2025-09-19T12:01:34Z
permalink: "https://chancerylaneproject.org/glossary/transition-plan/"
type: glossary-term
status: publish
excerpt: ""
wpid: 1357
---

## Definition

**Transition Plan** means a time-bound action plan to deliver the \[[Net Zero Target](https://chancerylaneproject.org/glossary/net-zero-target/) OR emissions-reduction target\], that \[is integrated into \[the organisation’s\] corporate strategy and business plan,\] \[is updated in line with developments in science and technology\] \[and which\] includes all of the following:

(a) quantifiable interim GHG emissions-reduction targets (short- and long-term) that align with the goals of the Paris Agreement using [Carbon Footprint Standards](https://chancerylaneproject.org/glossary/carbon-footprint-standards/);

(b) short-, medium- and long-term actions to achieve the emissions-reduction targets and a plan for how they will be financed;

(c) a strategy specifying the verified credits from a recognised \[[Offset Provider](https://chancerylaneproject.org/glossary/offset-provider/)\] that may be used by a Party to offset its [Residual Emissions](https://chancerylaneproject.org/glossary/residual-emissions/);

(d) governance and accountability mechanisms to support the plan, including annual monitoring and reporting and linking executive remuneration to achieving the interim targets;

(e) an assessment of and measures to address risks to, and leverage opportunities for, stakeholders (such as workforce, supply chains, communities and customers) and the environment; and

(f) promoting a Just Transition to a low-carbon economy, including by engaging with stakeholders during the preparation of the plan.