INTIEAEuropean Union · Just Transition FundPolicyIn force

Just Transition Fund

To support the European Green Deal, the Just Transition Fund was established to provide financial support to regions, sectors and communities facing more severe socio-economic challenges from the transition to cleaner forms of energy. The fund provides grants to impacted regions…

Last changed 3 years ago.

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Lifecycle

EffectiveJan 01, 2021
Last changeAug 21, 2023

Country / jurisdiction: European Union · Year: 2021 · Status: In force · Level: International · Type: Voluntary

To support the European Green Deal, the Just Transition Fund was established to provide financial support to regions, sectors and communities facing more severe socio-economic challenges from the transition to cleaner forms of energy. The fund provides grants to impacted regions so they can pursue economic diversification as well as provide greater job opportunities for workers. Areas of focus will include digital connectivity, clean energy technologies, emissions reductions, the regeneration of industrial sites, the reskilling of workers and technical assistance. The fund will be implemented in close cooperation with member governments, who must submit territorial just transition plans to the European Commission that outline measures aimed to address the economic and social impacts of the transition in a given region. For the period 2021-2027, the Just Transition Fund will have a total budget of EUR 17.5 billion, which can be supplemented by member states with funds from the European Regional Development Fund and the European Social Fund Plus. The Just Transition Fund is one pillar of the broader EU Just Transition Mechanism that aims to trigger targeted support of EUR 65-75 billion over 2021-2027 to regions impacted by the energy transition.

Official source: https://ec.europa.eu/info/strategy/priorities-2019-2024/european-green-deal/finance-and-green-deal/just-transition-mechanism/just-transition-funding-sources_en

Source

https://www.iea.org/policies/14330

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