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Sustainable development can only be achieved by striking the right balance between economic, environmental and social components.1 Decarbonisation of the economy will only succeed if climate justice includes solutions for workers and communities. The Paris Agreement accounts for ‘the imperatives of a just transition of the workforce and the creation of decent work and quality jobs.’ The private sector has a critical role to play in facilitating the shift towards a low-carbon world, but it must work in tandem with communities, workers, unions and policymakers to ensure no one is left behind. The World Benchmarking Alliance (WBA) is an independent organisa- tion that is building a movement to measure and incentivise business impact towards a sustainable future that works for everyone. We have identified seven systems transformations that need to take place to put our society, planet and economy on a path to achieve the Sustainable Development Goals (SDGs). To turn these transformations into action, WBA, in close collaboration with its Allies, is developing a series of publicly available and free benchmarks that assess and measure the contributions of the 2,000 most influential companies to the SDGs. We call these companies the SDG2000. 450 of these companies have been identified as most influential for the decarboni sation and energy system transformation. In light of the crucial role the private sector has to play in achieving a low-carbon world, WBA intends to assess these 450 companies by 2023 on their contribution to a just transition by assessing their alignment with the goals of the Paris Agreement alongside their approach to addressing the social challenges of a low-carbon transition. The WBA just transition assessments will be the first of their kind; publicly available and free rankings of and insights into the contri butions of globally influential companies in high-emitting sectors to a just transition and their alignment to a low-carbon pathway. These assessments can become a unique and critical accountability mechanism of a decarbonisation and en ergy transformation that leaves no one behind. This report sets out how WBA proposes to get there, including how we will invite stakeholders to participate in the development of in dicators for assessing companies’ contributions to a just transition through our multistakeholder process. It also includes synthesis of the November 2020 findings from WBA’s Climate and Energy Bench mark and Corporate Human Rights Benchmark assessments in the Automotive sector.

Assessing a just transition: measuring the decarbonisation and energy transformaton that leaves no one behind

Resource Key: 97RUYCIF

Document Type: Report

Creator:

Author:

  • World Benchmarking Alliance

Creators Name: {mb_resource_zotero_creatorsname}

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Institution: World Benchmarking Alliance

Date: February 2021

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Sustainable development can only be achieved by striking the right balance between economic, environmental and social components.1 Decarbonisation of the economy will only succeed if climate justice includes solutions for workers and communities. The Paris Agreement accounts for ‘the imperatives of a just transition of the workforce and the creation of decent work and quality jobs.’ The private sector has a critical role to play in facilitating the shift towards a low-carbon world, but it must work in tandem with communities, workers, unions and policymakers to ensure no one is left behind. The World Benchmarking Alliance (WBA) is an independent organisa- tion that is building a movement to measure and incentivise business impact towards a sustainable future that works for everyone. We have identified seven systems transformations that need to take place to put our society, planet and economy on a path to achieve the Sustainable Development Goals (SDGs). To turn these transformations into action, WBA, in close collaboration with its Allies, is developing a series of publicly available and free benchmarks that assess and measure the contributions of the 2,000 most influential companies to the SDGs. We call these companies the SDG2000. 450 of these companies have been identified as most influential for the decarboni sation and energy system transformation. In light of the crucial role the private sector has to play in achieving a low-carbon world, WBA intends to assess these 450 companies by 2023 on their contribution to a just transition by assessing their alignment with the goals of the Paris Agreement alongside their approach to addressing the social challenges of a low-carbon transition. The WBA just transition assessments will be the first of their kind; publicly available and free rankings of and insights into the contri butions of globally influential companies in high-emitting sectors to a just transition and their alignment to a low-carbon pathway. These assessments can become a unique and critical accountability mechanism of a decarbonisation and en ergy transformation that leaves no one behind. This report sets out how WBA proposes to get there, including how we will invite stakeholders to participate in the development of in dicators for assessing companies’ contributions to a just transition through our multistakeholder process. It also includes synthesis of the November 2020 findings from WBA’s Climate and Energy Bench mark and Corporate Human Rights Benchmark assessments in the Automotive sector.

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