Lifecycle
- Effective
- Last change
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.
Source
https://www.iea.org/policies/14330Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.