Category: Finance Facility
Published/Created by: European Regional Development Fund and the European Social Fund Plus
The Just Transition Fund (JTF) is the first pillar of the Just Transition Mechanism (JTM). It is the key tool to support the territories most affected by the transition towards climate neutrality providing them with tailored support. It is implemented under shared management, under the overall framework of Cohesion policy, which is the main EU policy to reduce regional disparities and to address structural changes in the EU. JTF will be implemented through shared management in close cooperation with national, regional and local authorities and stakeholders. This will ensure ownership of the transition strategy and provide the tools and structures for an efficient management framework. DG REGIO leads on the part of the Commission. The fund will alleviate the socio-economic costs triggered by climate transition, supporting the economic diversification and reconversion of the territories concerned. This means backing productive investments in small and medium-sized enterprises, the creation of new firms, research and innovation, environmental rehabilitation, clean energy, up- and reskilling of workers, job-search assistance and active inclusion of jobseeker’s programmes, as well as the transformation of existing carbon-intensive installations when these investments lead to substantial emission cuts and job protection. It is expected to mobilise close to €30 billion in investments. Furthermore, the Just Transition Platform will play a key role in providing tailored technical support to authorities drafting the Territorial Just Transition Plan throughout the process, in order to ensure that they reflect the specific needs of each region.
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