Wed, 16 November 2022 | COP27 venue, Sharm El-Sheikh, Egypt
Watch a recording of our event on how to boost finance for a just transition around the globe.
Hear from a diverse range of experts, including researchers, representatives of development banks, youth organisations and governments in the Global South and North. They will share their perspectives on the barriers and enablers to unlocking domestic and international just transition finance. A series of short presentations will explore the opportunities for a just transition to unlock the creative energy of all social partners in realising the co-benefits of ambitious climate action.
- Honourable Simo Kilepa, Minister for Environment, Conservation and Climate Change (Papua New Guinea)
- H.E. Madis Kallas, Minister of the Environment (Estonia)
- Kate Hughes, Senior Climate Change Specialist (Asian Development Bank)
- Ben Odongo, Energy Youth Fellow (YOUNGO, UN Climate Change High Level Champions)
- Kädi Ristkok, Director of the Climate Department (Ministry of the Environment, Republic of Estonia)
- Deepthi Swamy, Climate Program Lead (World Resources Institute India)
- Helena Garcia, Associated Researcher and Policy Consultant (Fedesarollo Institute, Colombia)
- Rensie Panda, Acting Manager of Policy in the Planning Division of the National Energy Authority (Papua New Guinea) and Chair of the Energy Sub-Technical Committee
- Megan Rowling, Just Transition Editor, Thomson Reuters Foundation
- Julie-Anne Hogbin, Programme and Networks Director, Climate Strategies
Just transitions are about making sure that all people benefit from the transition to a low-carbon society. Just climate transitions across different sectors like energy, agriculture and transport require that the impacts or costs associated with changing practices are fairly distributed, and do not increase inequality or make some people more vulnerable. Just transition also requires that the process of planning involves a diverse stakeholders and is driven by those that will be most affected.
International climate finance has traditionally focused on implementing techno-economic transitions to low-carbon or climate resilient practices. It therefore offers little support for ensuring outcomes are socially, economically, and environmentally just. Initiatives to fill data gaps to evaluate transition impacts and opportunities, programmes for re-skilling of workers, or public policy reform to strengthen social safety nets, all require more attention.
As they respond to climate change, countries of the Global South must also tackle significant socioeconomic development challenges, including poverty, food security and energy access. A Just Transition offers a framework to help realise the co-benefits of tackling these interlaced issues.
However, dominant thinking in financial ministries across the world remains that just transition initiatives come at the cost of economic development and rapid decarbonisation. To leverage the trillions needed for a just transition to the Paris Agreement goals, further research and analysis are needed to make the empirical case that well managed distributional impacts of climate transitions are economically beneficial.