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Investing in Climate, Investing in Growth

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This report provides an assessment of how governments can generate inclusive economic growth in the short term, while making progress towards climate goals to secure sustainable long-term growth. It describes the development pathways required to meet the Paris Agreement objectives and underlines the value of well-aligned policy packages in mobilising investment and social support for the transition while enhancing growth. The report also sets out the structural, financial and political changes needed to enable the transition.

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Towards an inclusive transition

The significant structural change implied by the transition of whole economies to balance greenhouse gas emissions and carbon sinks will inevitably create tensions among those affected – from central and local governments, to the private sector, the labour force and citizens. This chapter examines the social and economic factors that affect the ability of governments to envision and implement the long-term policy choices needed to stabilise the global climate. It considers how governments might draw on experience with industrial restructuring; the potential impacts of climate policy on households; and case studies that illustrate the need for a just transition for workers and communities. The chapter concludes by exploring how best to take political economy dimensions into account in preparing robust, long-term, low-emission development strategies.

English

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