The EU in May failed to reach an agreement on how to achieve a long-term strategy on reducing carbon emissions. One of the issues underlying the persistent differences among member states was the question of how to achieve a ‘just transition’. This is becoming an increasingly significant element of national and international debates on tackling climate change.
- The International Labour Organisation believes a transition limiting heat rises to 2 degrees by 2030 would create 24 million jobs globally.
- Global coal production may stabilise as reductions in developed economies are offset by increases in Asia.
- The UK Treasury estimates that achieving carbon neutrality by 2050 will cost 1 trillion pounds (1.26 trillion dollars).