Climate neutrality and social sustainability

Abstract

Achieving net-zero emissions in the next decades implies a rapid reduction in emissions, significant increases in carbon prices, and deep structural economic changes. These changes are generating concerns about their social impact. Possible job losses in specific sectors and increases in carbon prices may be perceived as socially unacceptable for their potentially regressive effects, especially at a time in which energy prices are increasing in most countries. This raises the questions addressed in this session: (i) Can climate neutrality be socially sustainable? (ii) Will it pass the social acceptability test? (iii) How can it be reconciled with the need to minimize/eliminate social impacts? (iii) How do different jurisdictions (EU, US, India, China) address this problem?