How can Universal Basic Income aid a Just Transition?

Policies aiming to deliver a just transition, and help people move towards a more sustainable economy whilst protecting rights and livelihoods, often focus on large scale mitigation and adaptation projects which can make transitioning to a green economy easier (such as through the provision of renewable energy) or lessen the impacts of climate chaos (such as infrastructure for natural disaster defence).

However, very few climate policies prioritise individual economic security and resilience as a requirement for a just transition. Much is made, for example, of an explosion in ‘green jobs’ and the opportunities of ‘green growth’ however these opportunities, should they materialise, are unlikely to generate equitable or universal benefits and may reproduce the same inequitable distributions of wealth as fossil-fuelled industries. Safeguards are needed to protect individuals and provide a baseline level of economic security for all in the face of climate chaos.

This event explores the merits of a Universal Basic Income (UBI), a universal, unconditional cash payment for all, as a tool for aiding a truly just transition. It will reflect on how UBI could play a role in addressing some of the biggest challenges of a just transition, including how to manage labour market disruption and re-training for a green economy, building resilience in MAPA communities, compensating people for loss and damage and supporting sustainable development in the Global South. It will also consider ways in which UBI could be funded at a global scale through an innovative ‘Cap and Share’ proposal developed by Equal Right, which could raise over $5 trillion a year for climate finance.