GENEVA (ILO News) – The International Labor Organization (ILO) has launched the first Green Jobs Pact for Youth at the Climate Change Conference in Egypt, also known as COP27.
The Youth Pact, a partnership with the United Nations and other agencies, aims to close the skills gap for youth in developing countries and target climate-vulnerable sectors. Its goals include creating one million green jobs, supporting the greening of one million existing jobs, and helping 10,000 green entrepreneurs.
The Pact is part of the ILO’s work to promote a just transition towards a greener and more sustainable future. It brings together the ILO, the United Nations Children’s Fund (UNICEF), the European Commission, the United Nations Environment Program (UNEP), and the children and youth group of the United Nations Framework Convention Nations on Climate Change (YOUNGO) and LinkedIn.
During the launch ceremony on November 9, Moustapha Kamal Gueye, ILO Global Coordinator for Green Jobs, reminded participants that “investments in the green economy, including clean and renewable energy, construction and sustainable agriculture , will create 8.4 million jobs for young people by 2030.”
On 10 November, the ILO, together with the London School of Economics Grantham Research Institute for Climate Change and the Environment, launched the Just Transition Financing Tool for Banking and Investment Activities.
The objective of this initiative is to provide financial institutions with practical advice, emerging practices and links to relevant resources on how to incorporate a just transition perspective into their operations, in line with the Paris Agreement. It focuses on banking and investment activities, and outlines entry points for a systematic integration of social considerations into financial institutions’ approach to a just transition.
Speaking at the launch, Vic Van Vuuren, Director of the ILO’s Department of Enterprises, said that “we are seeing the first steps, we are seeing concrete actions coming from the financial sector. But to move from the current nascent phase to the mainstream, the sector can benefit from further guidance. We are confident that the tool will support the implementation of tangible measures.”
The launch took place at the ILO Just Transition Pavilion at COP27. The Pavilion, the first of its kind, was officially opened by Eric Oechslin, Director of the Decent Work Team and Cairo Country Office; Joost Korte, Director General for Employment, Social Affairs and Inclusion of the European Commission; and James Grabert, Director of Mitigation for the United Nations Framework Convention on Climate Change.
The inauguration event, which brought together high-level governments, international organizations and social partners, highlighted the key role of the new Pavilion in providing a platform for negotiators and all COP stakeholders to engage constructively in support of the UNFCCC process.
The Pavilion also houses a Knowledge Hub to drive knowledge sharing and encourage exchanges between just transition practitioners and stakeholders.