A Just Transition

As we move away from an energy sector that is dependent on fossil fuels to greener, renewable energies, a ‘just transition’ is one where we actively build opportunities to create a fairer, more prosperous economy that puts people and planet first, ensuring that no one is left behind.

At the Bank, our three missions - net zero, place and innovation – all come together to support the delivery of a just transition. It provides a perfect opportunity for investing with impact – we can support communities to thrive through new jobs and opportunities and support the innovations we need to transition away from fossil fuels, creating the net zero energy system of the future.

The Bank’s missions and their role in a just transition

Net zero

Address the climate crisis, through growing a fair and sustainable economy. A just transition is one that will enable us to expand renewable energy to speed our journey to net zero and create energy security, without leaving people or communities behind.

Places

To transform communities, making them places where everyone thrives. A just transition is one that supports companies and communities to create positive change by realising opportunities and expanding green and diverse resilient jobs.

Innovation

To scale up innovation and technology, for a more competitive and productive economy. A just transition will support innovative business growth, whether in wholly new products, services and ideas, or the transitioning of existing businesses, skills and technologies into the industries of the future.

Investee and people profiles

In this paper we spoke directly to the people impacted by our investments through the jobs created and the communities they serve. We hope that by sharing these stories it can demonstrate how a just transition can act as a force for positive change.