The Fund aims to reduce the social and economic costs resulting from the transition to an EU climate-neutral economy by supporting diversification of economic activity, creating new business opportunities and helping people adapt to a changing labour market. To tourism SMEs, the fund can provide investments in fixed capital or immaterial assets.
The scope of support includes micro enterprises, sustainable tourism, culture, sustainable transport, digital innovation and training of workers and job seekers. All investments will contribute to the achievement of the objectives detailed in the Territorial Just Transition Plans (TJTPs). In addition, the supported activities will focus on internal economic growth in key sectors in relation to the affected smart specialisation strategies.
The Just Transition Fund (JTF) is part of a broader Just Transition Mechanism, which also includes a scheme under InvestEU and a public-sector loan facility. The activities supported by JTF include: investments in firms, research and innovation, clean energy technologies, GHG emission reduction, digitalisation, regeneration of sites, circular economy, upskilling and reskilling of workers, assistance to jobseekers, and technical assistance. The allocation method ensures that while all EU countries can access funding, resources will be concentrated on regions with the biggest challenges. For this, EU countries prepare their Territorial Just Transition Plans (TJTPs) identifying the eligible territories that are expected to be the most negatively impacted by the green transition. These TJTPs shall be annexed to the programmes entailing JTF support and adopted together.
The Just Transition Fund is co-managed and accessible through the competent authorities in charge of the programmes.
The Commission has set up a Just Transition platform to assist EU countries and regions in finding support available through the Just Transition Mechanism
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