Status of the transition to green & fair economies: Executive Summary

The 'Status of the transition to green & fair economies 2024' executive summary identifies a global 'polycrisis' of conflict, economic instability, and climate change, while noting systemic shifts toward social justice and green macroeconomic governance. It highlights the rise of the clean energy economy, led by solar PV and electric vehicles, alongside significant risks such as the 'gold rush' for critical minerals, insufficient private sector investment in nature, and the use of climate policy as a political 'wedge' issue.

• There is a growing trend of integrating social justice into environmental action, as policymakers recognize that transformative policies require citizen buy-in to succeed. Simultaneously, low- and middle-income countries are increasingly developing their own macroeconomic strategies for climate and just transitions.
• Global finance reform is gaining momentum through the Bridgetown Initiative, led by Barbados Prime Minister Mia Mottley, which seeks to overhaul development financing and the Bretton Woods institutions to increase liquidity and debt forgiveness.
• Major macroeconomic policies, specifically the US Inflation Reduction Act and the EU Green Deal, are restructuring the economies of two of the world's largest production and trading regions to improve the conditions of vulnerable sectors and poorer communities.
• The clean energy economy is expanding, particularly in solar PV and electric vehicles. In 2023, China invested $676 billion, representing 38% of the global total, though the combined investments of the US, EU, and UK exceeded China's total for that year.
• Several critical threats risk stalling the transition, including a 'gold rush' for critical minerals often occurring without human rights or environmental standards, a lack of private sector investment in biodiversity and resilience, and the emergence of climate policy as a partisan 'wedge' issue used to divide electorates.
• Despite some progress in carbon pricing and coal divestment, fossil fuel subsidies have increased significantly, and there is a widespread trust deficit between citizens and political leaders regarding climate pledges and carbon credit markets.

APA

Benson, E. (2024). Status of the transition to green & fair economies: Executive Summary. Green Economy Coalition. https://www.greeneconomycoalition.org/news-and-resources/status-of-the-transition-to-green-fair-economies-executive-summary

Chicago

Benson, Emily. Status of the transition to green & fair economies: Executive Summary. Green Economy Coalition, 2024. https://www.greeneconomycoalition.org/news-and-resources/status-of-the-transition-to-green-fair-economies-executive-summary.

Wikipedia

{{cite report |last1=Benson |first1=Emily |title=Status of the transition to green & fair economies: Executive Summary |publisher=Green Economy Coalition |date=19 March 2024 |url=https://www.greeneconomycoalition.org/news-and-resources/status-of-the-transition-to-green-fair-economies-executive-summary |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{benson2024status, author = {Benson, Emily}, title = {{Status of the transition to green \& fair economies: Executive Summary}}, institution = {Green Economy Coalition}, year = {2024}, month = mar, url = {https://www.greeneconomycoalition.org/news-and-resources/status-of-the-transition-to-green-fair-economies-executive-summary}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }