The transition to a low-carbon economy will be the defining economic challenge of the next half century and is not optional. The future well-being of society depends on the success of this transition.
However, achieving climate goals and biodiversity protection goals will necessitate a radical restructuring of the global economy. The concept of a 'just transition' encompasses a range of social interventions needed to secure workers' rights and livelihoods as their industries come under threat during the transition to a low-carbon economy. Just transition principles also require social interventions to prevent poorer households from bearing the burden of the transition to a low-carbon economy.