The Just Transition Mechanism platform helps EU countries and regions with their journey to climate neutrality
Are you wondering how the EU is supporting countries and businesses in their climate transitions?
The European Commission’s Just Transition Mechanism (JTM) provides targeted support of at least €65-75 billion for regions most affected by the transition to a climate-neutral economy.
The goal is to ensure that the transition towards a climate-neutral economy happens fairly.
The Mechanism revolves around 3 pillars:
A new Just Transition Fund to mobilise €30 billion in investments
The InvestEU "Just Transition" scheme
A Public Sector Loan Facility of grants and loans from the European Investment Bank
Support will be available to all Member States. To access the support, Member States will create plans for 2030 that set out ways to address key social, economic and environmental challenges.
Beneficiaries of the support will be:
People and citizens - The Just Transition Mechanism will facilitate employment opportunities in new sectors and encourage reskilling
Businesses in carbon-intensive industries - The Just Transition Mechanism will support the transition to low-carbon technologies and invest in new SMEs and start-ups
Member States and regions - The Just Transition Mechanism will support the transition to low-carbon and climate-resilient activities and create new jobs in the green economy
For access to support, the Just Transition Platform provides assistance through a single access point and helpdesk.
The platform has all you need to know about funding, updates and initiatives. It also provides a comprehensive technical and advisory support system whilst promoting the exchange of best practices among stakeholders through physical and virtual gatherings.
You can access the platform here.