Just Transition Fund

12-05-2021

In line with the European Green Deal, the European Union aims to cut greenhouse gas emissions by 55 % by 2030 and achieve climate neutrality by 2050. These ambitions will, inter alia, require a transformation in regions reliant on fossil fuels and high-emission industries. The Just Transition Fund of €17.5 billion will provide support to address the social, economic and environmental impacts of the transition in the most affected territories. The agreement on the proposal reached after trilogue negotiations with the Council now needs to be confirmed by the European Parliament, with a vote expected to take place during the May 2021 plenary session.

In line with the European Green Deal, the European Union aims to cut greenhouse gas emissions by 55 % by 2030 and achieve climate neutrality by 2050. These ambitions will, inter alia, require a transformation in regions reliant on fossil fuels and high-emission industries. The Just Transition Fund of €17.5 billion will provide support to address the social, economic and environmental impacts of the transition in the most affected territories. The agreement on the proposal reached after trilogue negotiations with the Council now needs to be confirmed by the European Parliament, with a vote expected to take place during the May 2021 plenary session.