Transition
Finally, the environmental goals we have set as a society – net zero by 2050 and limiting temperatures to 1.5 degree rises or less – will have enormous cost consequences, with the risk that those in society who are least able to afford it will pay heavily for that transition. This is why it is imperative we pursue a “just transition” that brings along all of society, entire economies, and those currently benefiting from high carbon-emitting industries – these jobs and communities must be fairly transitioned to the low-carbon future.
Simon Bond is executive director of responsible investment portfolio management at Columbia Threadneedle Investments
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