The COP29 panel “EU climate policies and justice: socio-economic impacts and pathways to equity”, scheduled on Friday 15 November 2024 from 10:00 to 11:00 AZT, will investigate some potential socio-economic effects of a set of European climate policies in the EU and in the rest of the world.
The EU’s European Green Deal (EGD) includes ambitious climate policies like the Emissions Trading Systems (ETS, ETS 2) and the Carbon Border Adjustment Mechanism (CBAM) to reduce emissions and prevent carbon leakage. However, these policies risk creating socio-economic inequalities, particularly affecting low-income households and workers in high-carbon industries. Without fair redistribution mechanisms, these communities face higher energy and transport costs, job losses, and social exclusion.
Key discussions are needed around social safeguards, including funding for the Social Climate Fund, strengthening the Just Transition Mechanism, and ensuring CBAM’s fairness for Global South countries. Addressing these issues is essential to achieving a just transition that supports vulnerable populations and fosters equitable global climate action.
The Official Side-Event will be hosted by the ILO in its Pavilion during the 29th Conference of Parties in Baku, Azerbaijan. You may follow the live stream here.
The event is organised by EUI-FSR in coordination with the consortium of the Horizon Europe project SPES and in collaboration with DG EMPL.
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SPES is funded by the Horizon Europe Programme of the European Union, Grant Agreement No. 101094551.
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