As the world pursues decarbonization, the concept of a “just transition” has become ubiquitous, particularly when describing the shift away from fossil fuels in emerging and developing economies.

Emissions targets at the global and national levels are viewed as the main drivers of the energy transition, and the climate policies developed to meet those targets must balance environmental and social objectives.

But decarbonization is not always the product of a planned emissions-reduction pathway. In fact, with the cost of renewables continuing to fall, many emerging and developing countries now see the phasing out of fossil fuels as a matter of economic survival and energy security.

For example, in January 2024, Ethiopia banned the import of petrol and diesel vehicles with immediate effect. The move was striking precisely because it was framed not as a climate commitment, but as a way to reduce its annual fossil-fuel import bill of more than $5 billion, which consumed a huge share of the country’s scarce foreign-currency reserves.

With the country constructing Africa’s largest hydroelectric dam, it made little economic sense to remain dependent on expensive fuel imports to power transport. Chinese-made electric vehicles quickly filled the market gap created by the ban; the streets of Addis........

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