Just Transition crucial to delivering on the government’s ‘levelling-up’ agenda, argues group of 40 banks and investors. UK banks, investors, and policymakers should embed high social standards far more deeply into their net zero strategies if the burgeoning green economic transformation is to benefit workers, suppliers, communities, and consumers right across the country. That is the core conclusion today from the more than 40 banks, investors, campaign groups and other organisations – including Barclays, Aviva Investors, ShareAction, and the Trades Union Congress (TUC) – which together make up the Financing a Just Transition Alliance. They are calling for a clear UK strategy to maximise the social opportunities and minimise the jobs risks associated with the transition to net zero over the next three decades, arguing a ‘Just Transition’ should be front and centre of the government’s ‘levelling-up’ agenda. A report by the Alliance today urges financial institutions and the government to take practical action to support a so-called ‘just transition’ which ensures no workers or communities are ‘left behind’ as the market shrinks for carbon intensive products and services. Published today, it echoes growing calls for a UK-wide Just Transition Commission similar to that already established in Scotland to help embed issues of fairness into government policymaking, as previously backed by business groups such as the CBI, Make UK, the Institute of Directors, and the Federation of Small Businesses, among others.
Business Green 25th Oct 2021 read more »