Achieving a Just Transition:
Framework for Company Action
Key Activities
- Invest in development of local communities and workers, establishing ongoing funds to provide community grants or loans, and direct redistribution of ownership of assets to communities.
- Work with local communities to implement initiatives creating sustainable employment opportunities.
- Develop policies and initiatives supporting local communities through transition towards sustainable energy assets.
See it in action
ACEN guided by its Environmental & Social (E&S) Policy, focuses on investing in communities. AC Energy commits to establishing grievance mechanisms as early as possible in project development phases.
ACEN also commits to conducting rapid assessment to determine if involuntary resettlement or economic displacement will occur because of a project. In the case of economic displacement, ACEN will compensate for lost assets and access to assets at full replacement cost, and provide opportunities to improve—or at least restore—their means of income-earning capacity production levels and standards of living.
Repsol works in partnership with international organizations such as the UNDP (United Nations Development Program) to carry out social investment projects that improve the quality of life of local communities.
Each year, Repsol carries out between 450 and 800 social investment projects in the different countries where it operates, investing around 40 million euros. In the 2020-2025 period, they have set an objective to benefit more than 800,000 people through our social investment projects.
Who's measuring these actions?
Just Transition Indicator 3 Metric c: Company demonstrates the measures it takes to create and provide or support access to green and decent jobs for workers and other affected stakeholders
Transition Indicator 5 Metric d: Company demonstrates how it contributes to addressing the impact of the low carbon transition on affected stakeholders’ social protection in the contexts in which it operates
Just Transition Indicator 6 Metric d: Company demonstrates advocacy, directly and/or indirectly through trade associations and/or employer’s organizations, for just transition policies and regulations that enable generation of green and decent jobs and the retention, education and reskilling of workers and/or social protection of workers and affected stakeholders at local, national and/ or international level.
More Blocks in this theme: Community resilience
= Core Best Practice
= Just Energy Specific Practice
