Enabling a Just Transition
Embedding Inclusivity, Equity, and Sustainability in Low-Carbon Development Strategies
Alongside the World Bank and International Monetary Fund Annual meetings in Marrakesh, Foreign Policy and the Environmental Defense Fund hosted a public briefing to advance meaningful dialogue on what it will take to enable a just transition to lower-carbon and more climate-resilient economies around the world.
The global race to reduce carbon emissions and deploy advanced technologies could yield significant benefits in terms of job creation, increased access to electricity, and the mitigation of premature deaths caused by air pollution. However, without careful management, this transition could also impose heavy costs and exacerbate inequities on the world’s most vulnerable populations — from unsustainable mining of critical minerals to loss of biodiversity and displacement of peoples from native lands targeted for project development.
While policy frameworks that are focused on a just transition are being developed, and Environmental, Social, and Governance (ESG) scores are increasingly considered by investors, more needs to be done to provide vulnerable and affected communities a seat at the table, embed equity into policy, and hold companies and governments accountable. This event brought together leaders across government, private sector, and civil society to explore the policies, partnerships, and innovative financing mechanisms that can more effectively safeguard vulnerable populations through the low-carbon transition.