The European parliament has formally approved the European Union’s multi-billion-euro fund to support countries as they wind down fossil fuel industries as part of the bloc’s push towards fighting climate change.
The €17.5bn Just Transition Fund (JTF) combines cash from the EU’s budget and its Covid-19 recovery fund.
It will support the communities most affected by plans to shut down coal, peat and oil shale sectors, or other emissions-intensive industries, and replace them with low-carbon industries and jobs – a transformation seen as key to meeting the EU’s target to eliminate its net greenhouse gas emissions by 2050.
The fund will help retrain workers and help them find new low-carbon jobs. However, it does not include nuclear energy.
The €17.5bn Just Transition Fund (JTF) combines cash from the EU’s budget and its Covid-19 recovery fund.
It will support the communities most affected by plans to shut down coal, peat and oil shale sectors, or other emissions-intensive industries, and replace them with low-carbon industries and jobs – a transformation seen as key to meeting the EU’s target to eliminate its net greenhouse gas emissions by 2050.
The fund will help retrain workers and help them find new low-carbon jobs. However, it does not include nuclear energy.
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