Just Transition:

For any business, a sustainability strategy has to integrate both environmental and social goals in a complementary way to ensure all material ESG issues are addressed. Climate and sustainability action plans need to take into consideration social issues faced by marginal groups, in order to avoid risks in the form of social and political opposition, and increase in societal inequality, and reputational damage.  

Addressing these issues and reducing the risk to those most vulnerable to the change is known as pursuing a "just transition" for workers and communities, a concept that emerged from the labour movement to address the issue of potential job losses in high-carbon economic sectors such as the fossil fuel industry.

This report examines both the risks and opportunities faced by corporates in the rise of the green collar workforce, including key aspects that Chairs and Boards should grasp to ensure the success of corporate sustainability efforts. The report also reviews affected groups, as well as just transition concerns that may be faced by Hong Kong specifically.