Geneva, 27 April 2023: The World Business Council for Sustainable Development (WBCSD), the Council for Inclusive Capitalism and PricewaterhouseCoopers LLP (PwC) have released a comprehensive compilation of insights and case studies to support energy companies in their efforts to advance a just transition to a net-zero carbon energy system.
As the global momentum around the transition to a net-zero carbon economy continues to accelerate, this new resource highlights the critical importance of ensuring that this transition considers people as well as planet.
It underlines how companies, governments and other stakeholder groups need to work proactively and purposefully to ensure that the transition to net zero mitigates potential negative impacts on workers, suppliers, communities and consumers, while also harnessing opportunities to deliver equitable and inclusive outcomes for all.
The report positions the Just Transition Framework for Company Action, developed by the Council for Inclusive Capitalism and its network of partners, as a useful source of guidance when identifying the key categories of action that companies should consider as they pursue just transition strategies.
Specifically, this framework identifies impactful company actions across four essential pillars:
- Universal net-zero energy
- Workforce evolution
- Community resilience
- Collaboration & transparency
Building on the important foundations established by the Council for Inclusive Capitalism’s work, WBCSD has been leveraging this framework as an engagement tool with its member companies across a range of sectors, to kickstart conversations and explore emerging best practices when it comes to advancing a just transition.
Produced in collaboration with PwC, this new resource highlights key insights and practices that have emerged from conversations with leading WBCSD members from across the energy system. The report features a series of real-world case studies from leading companies that identify emerging innovations, approaches and learnings across the four pillars of the Just Transition Framework for Company Action.
WBCSD, the Council for Inclusive Capitalism and PwC intend for this report to spur further discussion on the role and responsibilities of companies and other stakeholders in advancing a just transition. We look forward to continuing to collaborate to support the business community, across the energy system and beyond, to deliver an equitable and inclusive transition to a net-zero economy.
As part of WBCSD's broader work on equity, the Business Commission to Tackle Inequality (BCTI) will soon publish the report Tackling inequality: An agenda for business action. The report identifies 10 catalytic actions that individual companies can take to address mounting inequality. Join us online for the launch event on Wednesday 3 May 2023 by registering here. To learn more about BCTI, click here.