Today the European Parliament voted on the Report on the proposal for a regulation of the European Parliament and of the Council establishing the Just Transition Fund.

Henrike Hahn, Bavarian MEP for the Greens/EFA and Rapporteur on the Just Transition Fund in the opinion giving Committee on Economic and Monetary Affairs, comments on the successful vote as follows:

“The Just Transition Fund can make a huge difference in contributing to the transition to a climate-neutral society which is both an urgent challenge and an opportunity to build a better future for all. Today’s vote is an important success. The Just Transition Fund is the first instrument of the European Green Deal. Endowed with 17.5 billion euros, the fund is intended to ensure that the transition to a climate-neutral economy is socially fair. The Fund will provide European coal regions with a possibility for a new future. I am particularly happy that fossil fuels will no longer receive financial support from the Just Transition Fund and no exemptions will be allowed. Coal and oil will not receive any funding and decommissioning or constructing nuclear power stations will not be supported by the Just Transition Fund.

Another important to me point was the conditionality on commitment to the EU’s climate neutrality objectives. It foresees that only 50 % of resources allocated to the Member State concerned can be used for programming and implementation as long as commitment to implement a climate-neutral EU by 2050 in line with the objectives of the Paris Agreement, is not given. I hope this will be an important incentive for the Member States concerned. Supporting not only working people in transition but also job seekers is of utmost importance for the effectiveness of the JTF. The transition is the promise of a better and inclusive future. Everyone must benefit from it and our support must also help the most vulnerable among us, whether they are young people without access to training or the job market, persons with disabilities, isolated women, for example. The JTF will allow support to companies in difficulties under the temporary framework, due to exceptional circumstances, for investments reducing energy costs in the context of the energy transition process. As the JTF falls under the Common Provisions Regulation, funding must be in line with the Biodiversity and ‚Do no significant harm‘. Thus, projects funded by the JTF must not harm the environment as defined in the provisions of EU-taxonomy.“

Please see in the following my short film on Just Transition Fund: helping EU regions adapt to green economy.

My team and I are at your disposal for further information.