The 4 steps businesses can take to demystify the just energy transition

The guide outlines a strategic framework for companies to ensure that the shift to net zero is equitable, focusing on senior-level ambition, actionable workforce support, responsible policy advocacy, and transparent accountability. It highlights the role of business in creating decent green jobs and mitigating the burdens of phasing out fossil fuels, citing examples from companies like Enel, Iberdrola, and SSE to demonstrate how integrated planning can enhance long-term corporate resilience and societal well-being.

• The We Mean Business Coalition proposes a four-step framework for companies to integrate a just energy transition into their operations: setting senior-level ambition and understanding societal context, delivering action through social dialogue and workforce reskilling, advocating for pro-climate policies, and maintaining accountability through public disclosure.
• Effective just transition strategies involve proactive engagement with stakeholders to co-design solutions, as seen with Enel's Future-e project, which aims to repurpose 23 fossil-fuel power plants in Italy by 2030 through agreements with trade unions to ensure workers are retained, retrained, and redeployed.
• Companies can mitigate the economic impact of closing fossil fuel assets by investing in local renewable energy infrastructure, such as Iberdrola's approach in Spain, where coal plant closures were paired with the creation of a photovoltaic module manufacturing plant expected to create over 100 direct jobs in 2023.
• Corporate accountability for the energy transition is increasingly driven by investor expectations for disclosure in climate transition action plans, exemplified by SSE's publication of a progress report following its 2020 Just Transition Strategy.

APA

Mendiluce, M. (2023). The 4 steps businesses can take to demystify the just energy transition. World Economic Forum. https://www.weforum.org/stories/energy-transition/steps-businesses-demystify-just-energy-transition/

Chicago

Mendiluce, María. The 4 steps businesses can take to demystify the just energy transition. World Economic Forum, 2023. https://www.weforum.org/stories/energy-transition/steps-businesses-demystify-just-energy-transition/.

Wikipedia

{{cite report |last1=Mendiluce |first1=María |title=The 4 steps businesses can take to demystify the just energy transition |publisher=World Economic Forum |date=15 September 2023 |url=https://www.weforum.org/stories/energy-transition/steps-businesses-demystify-just-energy-transition/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{mendiluce2023steps, author = {Mendiluce, María}, title = {{The 4 steps businesses can take to demystify the just energy transition}}, institution = {World Economic Forum}, year = {2023}, month = sep, url = {https://www.weforum.org/stories/energy-transition/steps-businesses-demystify-just-energy-transition/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }