Financing Just Energy Transition

This Policy Brief was first published in https://t20ind.org


Agrowing number of G20 countries are committing to more ambitious greenhouse gas (GHG) emission reduction targets to limit the global temperature rise to 1.5ºC, which is needed to prevent catastrophic climate change. Yet, achieving these climate objectives will be a massive challenge as coal remains a substantial source of fuel for the energy sector, employment and incomes in developing G20 countries. The transition towards a carbon- neutral economy may have negative labour and social consequences, particularly for those along the coal supply chain. It is important to minimise the potential negative socioeconomic consequences, such as job losses. To ensure a ‘just’ transition, this Policy Brief recommends that the G20 develop a common guidance for member countries, which can also be called principles or best practices. The G20 can prepare this jointly with the G7, multilateral development banks (MDBs), and think tanks.

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