ILO at COP28: Events on sustainable enterprises, financing and just transition

News | 24 November 2023
Under the Just Transition Pavilion at COP28, hosted by the ILO and the European Commission as well as IOE, ITUC and UNFCCC, the following events are set to discuss and highlight the indispensable roles of different businesses, social economy organizations and financial institutions in supporting a just transition to a green economy:

2 December  14:00-14:50 (GMT+4)
Social economy: Putting people and the planet first

Social economy puts people and the planet first. The political momentum for the social (and solidarity) economy has been growing (EU social economy action plan 2021, ILO and OECD recommendations 2022, UN resolution 2023) as policy makers increasingly recognize its positive impact. Social economy practitioners and experts share their perspective on the lead role of social economy organisations at the forefront of climate mitigation, adaptation (with case studies) and social inclusion in partnership with the private sector.

3 December 09:30-10:20 (GMT+4)
Just Transition in Action: The Role of Finance - Launch of the ILO and UNEP report on integrating just transition in banking and insurance activities

Financial sector plays a major enabling role in promoting a just transition. Private sector banks and insurance companies have a variety of levers at their disposal to advance climate change adaptation and mitigation that leave no one behind.
While supporting a just transition moves higher on the agenda of the sector, the understanding of concrete actions that financial institutions can take to achieve the dual goals of environmental sustainability and social justice is currently lagging behind. The ILO and UNEP FI collaborated on a report addressing the rationale for financial institutions to embrace a just transition and highlighting the approaches that banks and insurance companies can adopt that will be launched during the session.

5 December 10:30-11:50 (GMT+4)
Supporting just transition through responsible business conduct - regional perspectives

By engaging in responsible business conduct, businesses can support an ambitious climate agenda that leaves no one behind. Co-hosted by the ILO and the UN Global Compact, this panel featuring representatives from the IOE, ITUC, EU and the business community will delve into how the private sector can contribute to a just transition by addressing both environmental and social dimensions of responsible business conduct across several sectors and regions.

5 December 12:00-12:50 (GMT+4)
The role of finance and partnerships in making the energy transition work for people

Promoting a just transition– maximizing the social and economic opportunities of climate action while minimizing and carefully managing any challenges – is a crucial objective of the Just Energy Transition Partnerships. The financial sector is foreseen to play a major enabling role: private sector financial institutions, members of the GFANZ are expected to mobilize $10 billion to support the JETP in Indonesia. Cooperation, financial mechanisms allowing to exploit synergies and effective regulatory frameworks are fundamental to guide alignment of financial flows. This session features a comprehensive panel of voices involved in shaping JETP, who will share challenges, insights and emerging good practices on how finance can support the “just” element of JETPs.

6 December 10:30-11:20 (GMT+4)
Achieving a just transition to a circular economy

The transition to a circular economy will see 78 million jobs created and 72 million destroyed. This event will discuss the challenges that exist for employers, workers and governments as part of this transition. The event will begin with a short introduction to the session and to the ILO’s work in this field. In this event, speakers will discuss the importance of ensuring a just transition for those who may be exposed to job losses, particularly in the linear economy. This highly interactive session will allow audiences to engage and reflect on the decent work challenges that exist in the circular economy and how they can be overcome.

9 December 09:30-10:20 (GMT+4)
Small business - big stakes: Bringing SMEs into the just transition

The ILO Guidelines promote a Just Transition for all, including workers, enterprises, investors, consumers, and particularly SMEs. SMEs account for seven out of ten jobs, and meanwhile, smaller businesses represent approximately 50% of greenhouse gas emissions. Bringing SMEs in the just transition is essential to limit job losses and optimize employment while achieving the transition to a green economy. This session poses the questions: What does climate change mitigation and adaptation look like for different SME segments? How to support SMEs to innovate and seize market opportunities focusing on green sectors and value chains? Drawing on specific challenges faced by SMEs worldwide, this session will discuss opportunities and solutions that support resilience and sustainability.

Most of the events in the Just Transition Pavilion will be live-streamed on ILO Live.