Just as a compass orients a traveller, the OECD Learning Compass 2030 indicates the knowledge, skills, attitudes, and values students need not just to weather the changes in our environment and in our daily lives, but to help shape the future. The Learning Compass 2030 is composed of seven elements: (1) core foundations; (2) transformative competencies; (3) student agency/co-agency; (4) knowledge; (5) skills; (6) attitudes and values; and (7) anticipation-action-reflection cycle. This concept note focuses on the concept of transformative competencies. To meet the challenges of the 21st century, students need to be empowered and feel that they can aspire to help shape a world where well-being and sustainability -- for themselves, for others, and for the planet -- is achievable. The OECD Learning Compass 2030 has identified three "transformative competencies" that students need in order to contribute to and thrive in our world, and shape a better future: (1) creating new value; (2) reconciling tensions and dilemmas; and (3) taking responsibility.