Global Future Council on the Future of Economics of Equitable Transition

Global Future Council on the Future of Economics of Equitable Transition

The next decades will be critical to balance society’s adaptation to a changing climate while transitioning to new energy sources and models of consumption. This council will attempt to identify and explore innovative economic models and policies that can promote a fair and just transition to a more sustainable and equitable future. The Council will work to develop actionable recommendations that can guide policymakers, businesses, and civil society organizations in achieving the economic transformation required for a more equitable and sustainable future by addressing three key issues:

Equity between developed and developing economies. How can an equitable transition account for the fact that developing economies have historically contributed less to pollution but will bear the brunt of the consequences of climate change? What strategies and policies can be implemented to reduce economic disparities between developed and developing economies (foreign aid, debt relief, trade agreements, technology transfer, and institutional reforms)?  What are the potential benefits of promoting equity between developed and developing economies?

Equity within developed economies: How can resources allocated towards green/digital transitions in developed economies incorporate equity considerations, such as supporting workers displaced from brown industries and promoting social mobility? What will be the equity agenda for carbon markets and carbon taxation in the future? How can the needs of displaced workers from brown industries be met?

Equity within developing economies: How can developing economies receive support for an energy transition while still addressing basic needs such as water, sanitation, education, and electrification?  How can these populations improve their living standards and human development while also meeting their climate commitments?  For those developing economies rich in "green metals", how can these resources be responsibly developed?  How can the green economy provide opportunities for social mobility and meet the needs of displaced workers from brown industries?

Council Manager
Leandro Loss, Knowledge Communities, Global Future Councils, World Economic Forum