Legal & General, Aviva Investors, HSBC and Barclays are among the members of a group urging the UK Government to develop ‘Just Transition’ definitions and priorities to support investment into areas that would benefit workers and communities currently dependent on high-carbon sectors.
The proposal is a key component of a policy framework published by the Financing a Just Transition Alliance (FJTA), a UK-based group led by the London School of Economics. Other members include Lloyds, Bridges Fund Management, Aberdeen Standard, the UK Sustainable Investment Forum and Principles for Responsible Investment.
Formed in 2020, the body seeks to identify ways in which the UK financial sector can support the Just Transition - an umbrella term for ensuring that the benefits and costs of shifting to a low-carbon economy are distributed fairly.
The FJTA is calling for the creation of a UK-wide Just Transition Commission to help develop Just Transitio…