In 2015, the Paris Agreement stated the imperative of a just transition of the workforce—including decent work and quality jobs—as essential to climate action. In 2023, UNEP FI is launching a new project to strengthen the banking and insurance industry’s role in supporting a just transition. This is a critical focus as economies accelerate action to meet the 2015 Paris Agreement commitments on climate change and align to the 2030 agenda and targets set out by the Sustainable Development Goals (SDGs).

The project’s focus is to clarify the implications of a just transition for the banking and insurance sector and establish guidelines that provide a practical roadmap for an inclusive and equitable climate financing for mitigation, adaptation, and resilience that aligns with societal goals and the SDGs.

UNEP FI members can join the Just Transition Consultative Committee to provide feedback on guidelines and practical resources on just transition for financial institutions.