Sustainable development can only be achieved by striking the right balance between economic, environmental and social components. Decarbonisation of our global economy will only succeed if climate justice includes solutions for workers and communities, also known as a ‘just transition’.
In light of the crucial role the private sector has to play in achieving a low-carbon world, WBA intends to assess 450 companies by 2023 on their contribution to a just transition by assessing their alignment with the goals of the Paris Agreement alongside their approach to addressing the social challenges of a low-carbon transition. These 450 companies employ around 24 million people, and hold immense influence to power a just transition. These assessments will be the first of their kind, publicly available and free.
This work is part of our larger work on the decarbonisation and energy transformation.Read more
Launched in February 2021, our just transition approach report sets out how WBA proposes to approach these assessments, including how we will invite stakeholders to participate in the development of indicators for assessing companies’ contributions to a just transition through our multistakeholder process. It also includes a synthesis of the November 2020 findings from WBA’s Climate and Energy Benchmark and Corporate Human Rights Benchmark assessments in the automotive sector. Our timeline sets out the next steps and consultation moments in this process.Read approach report here
Publication of draft methodology (indicators)
31 March 2021
Public consultation period
1 April to 14 May 2021
Launch of final methodology
Assessment of 180 companies in high-emitting sectors at the UN Climate Change Conference of the Parties (COP26)
WBA’s methodologies and benchmarks serve as roadmaps for companies, setting out the steps they can take to meet the needs and expectations of their stakeholders. In this methodology, we present the just transition indicators we will use to assess companies in 2021 and the multistakeholder feedback that has shaped them. We will assess 180 of the companies in scope of our decarbonisation and energy system transformation: 100 oil and gas companies, 50 electric utilities and 30 automotive manufacturers. In this methodology we also set our aims and expectations for the just transition assessments in 2021 and beyond.Read methodology here
Our just transition work is developed in close collaboration with an advisory group, whose members support the team with their expertise and experience.
Program Director for Climate & Environmental Justice, Interfaith Center on Corporate Responsibility (ICCR)
Senior Director, Ceres (part of Climate Action100+ (CA100+))
Professor, Institute for Human Development
Head of Advocacy, The B Team
Natural Resources & Human Rights Programme Manager, Business and Human Rights Resource Centre (BHRRC)
Director, Shaping Sustainable Markets, International Institute for Environment and Development (IIED)
Technical Officer, Green Jobs
Professor in Practice for Sustainable Finance, Grantham Research Institute on Climate Change & the Environment
Policy Analyst, Sustainable Finance, Grantham Research Institute on Climate Change & the Environment
Associate Director, Climate and People, BSR
Director, Just Transition Centre, International Trade Union Confederation (ITUC)
Senior Advisor, Policy & Outreach, Institute for Human Rights and Business (IHRB)
Senior Economic Analyst, Natural Resource Governance Institute
Juan Luis Dammert
Latin America Director, Natural Resource Governance Institute
Adviser for Climate and Green Economy, International Organisation of Employers (IOE)
Chief Executive Officer and Chairman, Africa investor (Ai) Group
As we build our work, we continue to engage with stakeholders across the globe through targeted communications with key organisations and representatives. We also encourage meaningful and constructive feedback.