This report highlights the progress and the status of Indian FIs on their journey to develop credible climate transition plans3 . 15 FIs (11 banks, one insurance sector, three asset managers) have been analyzed based on the data they disclosed through CDP in the 2023 cycle. These FIs hold INR 36,212.26 billion market capitalization in India which is quite sizable. The report captures disclosure trends related to key elements involved in developing a credible climate transition plan4 , such as the information about the FI’s governance model, use of scenario analysis, Scope 1, 2, and 3 accounting (and verification status), policy engagement, management of risks and opportunities, value chain engagement, and use of low-carbon initiatives including targets and financial planning. These elements are prime when looking at a larger picture of transition planning of an individual organization (whether an FI or a member of the real economy).