The close collaboration of businesses, policymakers, and workers is critical to ensure the implementation of just transition strategies that address the social and economic impacts of decarbonisation. In turn, such collaboration can have tangible benefits for workers, businesses, and communities impacted by the transition to a low-carbon economy.
This brief builds on existing work from the UNDP, the International Labour Organisation (ILO), the Grantham Research Institute, the World Benchmarking Alliance (WBA), and the Council for Inclusive Capitalism. It provides recommendations to businesses on how to implement a just transition and monitor progress, and is structured around three key messages:
- Businesses, policymakers, and workers should collaborate to identify and implement effective regulations and incentives to build capacity and overcome barriers to a just transition.
- Just transition considerations are increasingly integrated into disclosure requirements and businesses that enact just transition policies now will be able to deal with climate and social impacts more effectively in the future.
- Businesses should use existing just transition tracking progress methodologies and tools to improve their level of readiness and to anticipate and plan for changes over time.
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