Survey of Just Transition related needs of enterprises in Colombia

A just transition is about making the shift to a green economy inclusive and balanced, supporting the environmental goals while also enabling businesses, workers and communities to adapt and thrive. Enterprises are key agents of this transition, as drivers of innovation, employment and sustainable economic growth.

As companies adapt to environmental and climate goals, a just transition means maximizing and sharing the benefits from emerging opportunities while also identifying and managing associated risks. These opportunities could include penetrating new green markets, adopting cleaner and more efficient technologies, developing future-oriented skills. At the same time, companies need to anticipate and mitigate potential risks to operations, workers and vulnerable groups, paying particular attention to gender-differentiated impacts. Ensuring decent work, engaging stakeholders meaningfully and aligning with international labour and human rights standards are key to this process.

Regardless of the size or sector – a local manufacturer, a tech start-up or a large agribusiness – all businesses have a role to play by adopting practices that help lower emissions, improve resource use and enhance preparedness to face climate events, while considering and mitigating potential negative impacts on workforce and stakeholders. This includes investing in workforce measures such as reskilling, occupational safety and health and inclusive employment strategies to support business resilience and social sustainability.

In Colombia, the government has committed to ambitious climate targets and to a just transition under its Nationally Determined Contribution. To better understand the financing needs of enterprises to make an inclusive and sustainable shift to a low-carbon economy happen, the ILO’s Social Finance Programme and the ILO Bureau for Employers' Activities (ACT/EMP) are partnering with the National Business Association of Colombia (ANDI) to conduct a national survey on just transition-related financing needs. This survey targets enterprises across sectors and sizes, aiming to generate direct insights from businesses on:

• Priority areas of investment, such as low-carbon technologies, energy efficiency and workforce transition measures, among others.
• Key financial and non-financial barriers to action.

Survey findings can be found here (in Spanish). They are expected to support the design of more inclusive and responsive sustainable finance strategies, frameworks and financial instruments by financial institutions and policymakers. They will also help business membership organizations like ANDI identify how best to support their members in accessing the finance needed for a just transition.