Economy / Energy & Climate / European Macroeconomics & Governance / climate change / climate neutrality / coronavirus / COVID-19 / EU / EU budget / Just Transition Fund / Next Generation EU / recovery

One last push is needed to improve the Just Transition Fund proposal

Posted On: Jun 11, 2020   |   Posted By: Bruegel

The Just Transition Fund , one of the three pillars of the Just Transition Mechanism , aims at providing assistance to EU territories most negatively affected by the transition to a climate-neutral economy. Given the socio-economic strain caused by the COVID crisis since the mechanism was unveiled in January 2020, the European Commission proposed last month to increase its funding more than fivefold, from €7.5 billion to €40 billion (unless otherwise specified, 2018 prices are used).
the EU political bodies - Council and Parliament - can still further amend it to better respond to the urgent need for just transition policies in the challenging context of the post-COVID recovery
The newly amended proposal for a JTF is a part of the proposed €750-billion ‘ Next Generation EU ' instrument, a key element of the Commission's overall recovery package. It is justified by the need to accelerate the green transition while avoiding an increase in national and regional disparities to “ create the conditions...

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