Online Event: Integrating Finance for Just Transition Approaches into the Global Climate Finance Architecture

This online seminar took place on 26th of October 2022. The recording of the event and the slides of the presentation can be accessed below.

During this online seminar on 26th of October 2022, the Climate Finance Advisory Service (CFAS) launched a new publication the topic of just transition finance. The publication contributes to the increasingly important debate of integrating finance flows for just transition approaches into the global climate finance architecture. In this context, the publication emphasizes the needs for just transition finance of commodity-dependent developing countries. Previously debates on just transition approaches mainly centred on the energy sector and often focussed on developed country perspectives. Thus, this new CFAS publication aims to broaden the discussion on just transition finance and reflects an emerging perspective that goes beyond the energy sector and takes into account the dependency on export commodities and countries' development status.

A significant number of developing countries are economically highly dependent on energy, agriculture and forestry commodities. Those countries require comprehensive just transition approaches and finance to implement those approaches. While the export of energy raw materials will be increasingly affected by global greenhouse gas mitigation measures, agricultural and forestry products are highly vulnerable to the negative impacts of climate change. The future stranding of resources and the massive restructuring of the above mentioned sectors thus require just transition approaches that attenuate negative effects for affiliated jobs and workers. The publication discusses how existing and potential new climate finance channels can support the preparation of adequate, effective and socially just transition measures in developing countries.

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