How to reduce the social costs of coal mine closures?

As a result of decarbonisation, the number of jobs in coal mining and mining-related industries will drop. However, the risk of increased unemployment related to this process can be minimised. To that end, to mitigate the consequences of the transition away from coal, it is necessary to halt the inflow of new workers, allow older employees to work until they reach retirement eligibility, and provide support in advance for younger workers in mining and mining-related industries so that they can take up jobs outside of the sector. To achieve that, we suggest three instruments: (1) relocating workers to coking coal mines, (2) retraining, and (3) support in starting up and running a business. With these instruments, it is possible to help accelerate decarbonisation while retaining a well-qualified workforce in the regional labour market.