The Inter-American Development Bank (IDB) has released a new publication on advancing a just transition in Latin America and the Caribbean (LAC) region. The authors affirm that the transformation towards decarbonization may bring large economic and social benefits (estimated at 1% of the regions GDP by 2030), but to capitalize on these, countries in the region need to create the conditions that enable this transition while ensuring that it is inclusive and just.

The document is structured in four main chapters, comprising: i) the challenge of transforming LAC economies in a just way and the social impacts of transitioning; ii) the opportunity of just transition and the climate change agenda (linked to Paris Agreement and countries NDCs); iii) the response of creating and using a just transition toolkit in LAC; and iv) examples of just transition in practice in LAC region. The economic sectors seeking to transition to net-zero emissions are forestry and land use, agriculture, transportation, energy and waste management. Governments in LAC can rely on a set of policies and programs in seeking a just transition, that include shaping the normative environment, investing in specific programs, providing financial support, and convening different stakeholders to ensure an inclusive process.