The Just Transition Fund is a new financial instrument within the EU Cohesion Policy which aims to provide support to territories facing serious socio-economic challenges arising from the transition towards climate neutrality.
Support provided through the Just Transition Fund is focused on the economic diversification of the territories most affected by the climate transition as well as on the reskilling and active inclusion of their workers and jobseekers.
Its main objectives are to alleviate the impact of the transition by financing the diversification and modernisation of the local economy and by mitigating the negative repercussions on employment.
In order to achieve its objective, the Just Transition Fund supports investments in areas such as digital connectivity, clean energy technologies, the reduction of emissions, the regeneration of industrial sites, the reskilling of workers and technical assistance.
Focusing on economic diversification and reskilling, the Fund aims to support regions facing serious socio-economic challenges due to the transition process.
In Ireland, the EU Just Transition Fund will support the delivery of Ireland’s Climate Action Plan 2021 and its objectives in relation to a 'just transition' in the wider Midlands region in response to the ending of peat extraction for power generation.
The EU Just Transition Fund may be used to:
This means backing productive investments in small and medium-sized enterprises, the creation of new firms, research and innovation, environmental rehabilitation, clean energy, up- and reskilling of workers, job-search assistance and active inclusion of jobseekers programmes, as well as the transformation of existing carbon-intensive installations when these investments lead to substantial emission cuts and job protection.
Read more about EU policy on the EU Green Deal.
Up to €84.5 million has been allocated to Ireland under the EU Just Transition Fund over the period to 2027.
The Government has agreed to 100% match the proposed €84.5m allocation from the EU Just Transition Fund for the midlands region.
Find open calls for Just Transition Fund.
Twitter: EU Just Transition Fund in Ireland