|Author (Corporate)||European Commission: DG Regional and Urban Policy|
|Series Details||COM (2020) 22|
Legislative initiative published by the European Commission in January 2020 setting up the Just Transition Fund (JTF), one of the three pillars of the Just Transition Mechanism aimed at supporting those regions across the European Union (EU) most affected by climate change and the green transition.
As detailed in the Communication on the Sustainable Europe Investment Plan (SEIP), the Just Transition Mechanism is to focus on regions and sectors most affected by the transition given their dependence on fossil fuels or greenhouse gas-intensive industrial processes. The mechanism comes in additional to the contribution of the EU's budget through all instruments directly relevant to the transition, notably the European Regional Development Fund (‘ERDF’) and the European Social Fund Plus (‘ESF+’).
The Just Transition Fund is one of the three pillars of the Just Transition Mechanism. Its focus is on the economic diversification of the territories most affected by the climate transition and the reskilling and active inclusion of their workers and jobseekers. It is meant to support all Member States, with the distribution of its financial means reflecting the capacity of Member States to finance the necessary investments to cope with the transition towards climate neutrality.
The proposal was put forward by the Commission on 14 January 2020 alongside the SEIP Communication.
|Subject Categories||Environment, Internal Markets|
|Subject Tags||Climate Change, Cohesion Policy, Sustainable Development|
|International Organisations||European Union [EU]|