As part of the Paris Agreement, governments committed to take into account the imperatives of a just transition of the workforce and the creation of decent work and quality jobs in accordance with nationally defined development priorities.
In this policy brief, the authors review the attention given to this crucial aspect of climate change action at the COP26 climate summit in Glasgow in November 2021, assessing 10 new initiatives, and make five detailed priority proposals for financing the just transition in 2022.
The five priorities on the just transition for the financial system in the lead-up to COP27 are to: make the just transition integral to net-zero plans; focus on emerging and developing economies; deploy tailored financial instruments and mechanisms; support just transition policy and regulation; and recognize the crucial role of dialogue and participation.