The social and economic impacts of COVID-19 exceed that of the global financial crisis, and its effect may be longer lasting. While the impact varies across stakeholders and geographies, it will most likely increase poverty and inequality at a global scale, making achieving the UN SDGs even more crucial in the face of an ever shorter timeline to meet climate change objectives. The guiding principle behind the concept of a just transition is to minimise the negative social externalities of this transition, while maximising its positive externalities for workers, consumers and local communities. The session will explore the topic in the context of institutional investors and sustainable finance, highlighting the opportunities and challenges to supporting a just recovery and transition across developed and emerging markets.
Xavier Jordan, IFC