Friends Fiduciary Supports Just Transition

Friends Fiduciary has signed onto a letter calling on companies, investors, and policymakers to ensure a just transition to a net-zero economy that supports a racially and economically equitable economy prioritizing quality jobs, respect for human rights, positive community impacts, and the remediation of harms. A successful just transition to a decarbonized economy must create an “inclusive stakeholder-driven economy where those most impacted by the transition are central to its design.” Such stakeholders include labor and human rights groups, community and environmental justice organizations, public policy advocates, as well as communities of color that have been disproportionately impacted by corporate pollution and Indigenous Peoples whose lands and resources are used to generate wealth for others.

We recognize that there is a significant business case in managing the risks associated with this transition. If not properly managed, existing systemic risks could be made worse, such as “racial and economic inequality, lack of decent work, adverse impacts on human rights, as well as environmental degradation,” which could lead to significant financial uncertainty. FFC believes it is crucial that companies establish and maintain constructive relationships with workers and the communities in which they operate, to support effective human capital management practices and a sound, profitable, and sustainable business strategy.