Transition to Zero Emission Economies: Job booster for Latin America & the Caribbean

On July 29, 2020, the Inter-American Development Bank (IADB) and the International Labour Organization (ILO) published the results of a study that highlights the enormous job creation potential associated with a transition to a net-zero carbon economy in Latin America and the Caribbean. Even though such a transition would terminate around 7.5 million jobs in fossil fuel-based industries and animal-based food production, more than 22.5 million new jobs could be created by 2030 in sectors of key importance for realizing low-carbon economies, including renewable energy, agriculture and plant-based food production, forestry, construction, and manufacturing.

The study also provides guidance and policy recommendations on how countries can ensure a just transition and create decent jobs. Targeting such transition in the wake of the COVID-19 crisis will support a sustainable recovery of economies in the region, especially in light of the substantial job creation potential and environmental benefits of this transition.