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Maximizing Micro and Small Business for a Just Transition
November 3, 2021
The preamble to the Paris Agreementtakes into account “the imperatives of a just transition of the workforce and the creation of decent work and quality jobs in accordance with nationally defined development priorities.” At its core, a just transition is about inclusive economic growth that ensures the benefits of the shift to a low-carbon, green economy is equitably shared. In this effort, the private sector is the principal field of action. In the next five years, the global clean energy market is projectedto grow to $1.9 billion, offering a critical path from economic crisis to recovery in the wake of the COVID-19 pandemic. In both the near and longer-term, green industries have the potential to help accelerate re-employment, create jobs, and stimulate growth, especially in developing and emerging economies looking to create diversified opportunities for larger numbers of new or returning labor market entrants and small business owners—many of whom will be youth, women, or otherwise disadvantaged workers.