17, 5 Billion for a just climate transition in the EU

The objective of the Just Transition Fund is to reduce the socio-economic costs generated by the climate transition. The identified solutions are economic diversification and reconversion of the most distressed territories. The Programme acts within the European Green Deal and contributes to the achievement of the European climate objectives. 

The Just Transition Fund is one of three pillars of the Mechanism for Just Transition. The other two pillars are: InvestEU and EIB (European Investment Bank).
The Just Transition Fund alone has a budget of €17.5 billion, of which €10 billion is financed by NextGenerationEU. However, thanks to the joint action with the other two pillars, the Fund is expected to have a greater overall impact than the indicated budget.  

The tool for Member States to access funds is the TJTP (Territorial Just Transition Plan), which is a key step to identify territories in difficulty. 

The areas of intervention of the Programme are: 

  • investment in SMEs
  • creation of new enterprises
  • R&I
  • environmental restoration
  • clean energy
  • upskilling and retraining of workers
  • job-search assistance
  • conversion of existing carbon plants 

States and authorities in charge receive technical assistance and support in the implementation phase through the following platforms:

The tourism sector will be funded both with fixed capital and intangible assets, which will benefit micro-enterprises, sustainable tourism and transport, digital innovation, worker training and the unemployed. 

At Twissen, we observe the need to foster continuous and flexible action to meet the challenges arising from the green transition. In these terms, the territory turns out to be a key player. Within this context, the Travel & Tourism sector often benefits from its direct and established connection with the territory itself. 

Author: Chiara Durigon
Graduating in Local Development and a convinced Europeanist, she studies and researches European projects at national, regional and local level for Twissen.

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