Climate Week NYC 2024: Moving to Action on Just Transitions
New York Climate Week is around the corner and we at Laudes Foundation will be present to advance our work to accelerate just transitions in four key industries – all of which have an outsized impact on climate change, nature loss and inequality. These include the built environment, finance and capital markets, fashion and food sectors, with cross-cutting efforts to unlock capital, promote labour rights and to inspire new narratives to propel these industry transitions.
What we know from science is that we are at a critical moment. According to new work published in the Lancet Planetary Health, human activity is threatening eight of the planet’s critical life-support systems with seven of them transgressing into a danger zone. We can also see the consequences of our inaction. According to the World Bank, by 2050, 216 million people could be displaced by climate-related factors leading to massive social and economic challenges for both countries of origin and destination – an unfathomable outcome that should unite us in our efforts progress inclusive climate action.
At Laudes Foundation, every day we see shining examples of strong collaboration, deep innovation and decisive movement-building that helps lead to transformations of our industries and economies. We remain committed to bringing these examples to the fore, and inviting others to join in the efforts to help reach the scale needed for industries to transition.
Here’s how we are stepping up:
Uniting philanthropy:
We know that there is an urgent need to organise philanthropy towards a concentrated push to decarbonise our industries in ways that centres the agency, inclusion and accountability for those impacted, particularly workers and communities. At Laudes Foundation, we are excited to be spearheading a learning and action space for donors on just transitions, by way of the Just Transitions Donor Alliance (JTDA). Next week, we will gather over 70 philanthropic leaders and non-profit leaders, including IKEA Foundation, Ford Foundation and ClimateWorks, to learn from each other and ensure transitions are just and happening at pace and scale.
Building better:
The built environment – the places we live, work and play in – is accountable for nearly 40% of carbon emissions. And yet, only 4% of climate philanthropy is directed towards transforming the sector. This work is woefully under resourced if we are serious about addressing the challenges of climate change. At Laudes, we have made a commitment to close this gap through a large grant making programme and a new global multi-donor alliance called Assemble. Assemble’s vision is to transform the built environment to reach emission free and resilient buildings for all by 2050. Assemble will meet during NYCW to build further momentum and action in shifting the way the world around us is built.
Getting finance flowing:
We know that transitions will need financing. According to the International Energy Agency (IEA), the world needs to invest $4 trillion annually in clean energy by 2030 to reach net-zero emissions by 2050. But this isn’t just an issue of technology and Laudes, along with other donors is thinking about how we make this transition fair and equitable for those most impacted. As a pre-cursor to NYCW, we supported our partner Green Finance Institute towards the development of ‘green prints’ for action that looks at how we start mobilising capital at scale for a just transition.
Inspiring new narratives:
While philanthropy has invested significantly in news media, with over $1 billion allocated from 2018-2022, a disproportionately small amount has been directed toward climate coverage. All this while philanthropy and our partners rely heavily on the news media to bring exposure to research, findings and advocacy work to ensure that it is publicly influential and a dominant part of public and decision-maker discourse. Over the last year, Laudes Foundation along with IKEA Foundation, Wellcome Trust, CIFF and Rockefeller Foundation have helped build an emergent and global Climate and News Media Network to address this challenge. The network now includes philanthropies, journalistic service organisations, and news organisations and will meet next week to plan forward the role of news media in shaping public understanding and driving action by decision-makers.
Leading with labour:
Industry transitions don’t happen on their own. They require deep involvement of those that drive the engines of these industries, particularly workers. But all too often, these groups face situations of exclusion and marginalisation where their fundamental rights are not respected. Even at the policy level, significant gaps persist. According to findings from the International Labour Organisation (ILO), in the 20 countries most vulnerable to the climate crisis, just a mere 8.7% of the population is covered by some form of social protection, leaving 364 million people wholly unprotected. Furthermore, an estimated 1.2 billion jobs, 40% of the global labour force, are directly or heavily dependent on natural process and ecosystems and at serious risk from climate change. This is why Laudes Foundation and our partners continue to lead on labour rights, particularly across key industries. Our partners People’s Courage International and Migrants Resilience Collaborative are organising a convening on “Centering workers and communities in climate resilience” during NYCW. The discussion will focus on multi-country research on the impact of climate change on migrants and workers, developed in conversation with over 24,000 migrant workers across five countries in South and Southeast Asia.
These are just a few examples of how we are working to mobilise philanthropy and support the drivers of just transitions across industries. We invite all partners, including government, business, finance and civil society, to join us in these efforts. We know that we can only accomplish the economic and industry transformations that are so critically needed with deep, cross-sector and multi-stakeholder collaboration.
See you in New York!
To learn more about just transitions and where you can support watch this video on Understanding Just Transitions for a fair, green and inclusive economy
-
By Amol Mehra
Director of Industry Programmes
