It can improve oversight of transition benefits, risks and costs, increase social support for climate action, and ensure good relations with all groups that are affected – thereby allowing people and communities to thrive alongside business. Why should business care about the just transition?Īll climate action planning – of companies, cities, regions, governments – needs societal buy-in to realize its full potential and be sustainable in the long term.Ī just transition offers the necessary stakeholder-centric approach to planning for the shift to a decarbonized economy. It is what’s best for both people and the planet, and business has an important role to play. In other words, the just transition is about placing people at the center of climate action. This is at the core of the concept of a just transition, as the International Labour Organization defines it greening the economy in a way that is as fair and inclusive as possible to everyone concerned, creating decent work opportunities, and leaving no one behind. As the latest IPCC AR6 synthesis report finds: “ Actions that prioritise equity, climate justice, social justice and inclusion lead to more sustainable outcomes, co-benefits, reduce trade-offs, support transformative change and advance climate resilient development. How we set out to deliver these emissions cuts will be critical to our long-term success. We know what the science says: we need to halve global emissions in this decade to limit temperature increase to 1.5☌ and avert the worst impacts of climate change.
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