17 June 2025 – The world’s first internationally recognized standard for transition planning in the financial sector is now open for public consultation, inviting banks, asset managers, pension funds, and other financial entities to share their feedback.
BSI, together with the ISO Sustainable Finance Committee has announced the opening of the public consultation for Net Zero Transition Planning for Financial Institutions (ISO 32212), with comments being accepted until 12th September. The standard aims to deliver a significant step on aligning financial institutions with global climate goals including the Paris Agreement, by providing a globally applicable, credible framework.
While existing frameworks from ISSB, GFANZ, and TPT primarily focus on disclosure, ISO 32212 shifts the emphasis toward process and governance—ensuring that financial institutions translate commitments into credible, sustained action. It supports institutions in managing climate risks, capturing transition opportunities, and scaling high-integrity transition finance.
Rather than duplicating or displacing existing initiatives—such as those led by GFANZ, TPT, the G20, UNEP FI, or the OECD—ISO 32212 aligns with and enhances them, embedding their insights within the global quality infrastructure to promote coherence and accountability across the financial system.
Financial institutions have a pivotal role to play in the transition to a low-carbon economy, but without a consistent framework, organizations could face uncertainty in transition planning, undermining market confidence and slowing progress. ISO 32212 aims to address this gap by offering a clear, certifiable approach, helping financial institutions support a resilient, low-emission economy.
To ensure the standard meets the needs of financial institutions, BSI invites global stakeholders, including financial regulators, policymakers, NGOs, and industry leaders, to review the draft and provide feedback during the consultation period, which runs from 20 June to 12 September 2025.
Scott Steedman, Director - General, Standards at BSI said: “The financial services sector is integral to accelerating progress towards a low-carbon economy and a sustainable world. A globally recognized framework that goes beyond disclosure and prioritizes robust transition planning can help institutions drive meaningful climate action within the financial sector’’.
“This standard is designed to provide a clear path for managing climate risks, unlocking transition-related opportunities, and scaling credible net zero strategies. We urge stakeholders across finance and policy to review the draft and contribute their feedback during the public consultation”.
To support the launch of the standard, BSI is convening a series of expert roundtables to foster critical discussions on net zero transition planning for financial institutions. These sessions will bring together financial leaders, regulators, policymakers, and climate experts to explore the practical implementation of ISO 32212, ensuring it effectively supports institutions in developing credible, high-integrity transition strategies. Through collaborative dialogue, participants will have the opportunity to share insights, address challenges, and shape best practices, helping drive meaningful action toward climate-aligned finance.
BSI is hosting roundtables for finance policy groups on 9th July 2025 and for central banks and financial regulators on 9th and 10th July 2025.
To complement the consultation, BSI has also published a feature blog exploring the implications of ISO 32212 and its role in shaping credible net zero transition plans. The piece offers insights into how the standard supports global climate frameworks and invites dialogue across the sector. Read more here: https://bit.ly/4l29Cao
To explore the standard, access supporting resources, and take part in the consultation, visit the project landing page.
