Land is scarce in many parts of our fast-urbanizing world. Few communities have the chance to create something brand-new on a significant piece of land—and even fewer can develop that land in a way that confronts climate change, generates jobs, and attracts investment.
COP26 helped focus global attention on the challenge of transitioning out of coal. In recent months, however, the war in Ukraine has led to a rise in coal use, as a short-term replacement of Russian oil and gas. But in the medium term, both advanced and developing economies will need to accelerate the coal transition to meet Paris Agreement targets. Decisive actions and financial resources are essential, but success will ultimately depend on effective policies to deal with the resulting disruption to jobs, reflected in the call for a “just transition.”