The Transition Pathways Initiative (TPI) Centre's new tool, the Net Zero Standards Assessment Framework, launched last year, assesses the credibility and effectiveness of low-carbon transition plans of companies in the diversified mining and oil and gas sectors. It builds on TPI's Banking Assessment Framework, but specifically for these sectors.

The framework consists of a set of indicators that analyse the integration of climate targets into business strategies and capital expenditure plans for companies in these sectors. It provides an aggregate company score across the categories of disclosure, alignment and climate solutions.

The framework is open-source with TPI allowing all stakeholders; investors, policymakers, companies, and the public to access its methodology, data, and findings in the interests of transparency.

"Open source methodology makes this a really impactful product, designed by independent researchers," commented one Environmental Finance Awards judge. "As it's on a sector-by-sector basis, this also allows for greater nuance in the assessments."