Following the approval of Latvia’s single Cohesion Policy programme for the period 2021-2027, €192 million under the Just Transition Fund (JTF) will be invested in the country to support a fair transition to a climate neutral economy.
- 01 December 2022
These investments will support the phasing out of peat for energy generation by 2030 and peatland restoration, reducing greenhouse gas emissions (GHG) and improving the local environment.
In particular, the Just Transition Fund (JTF) will help the phasing out of peat for energy use in the regions of Vidzeme, Latgale, Zemgale and Kurzeme. The EU will also invest in the restoration of historic peat fields to both reduce their greenhouse gas emissions and protect the local environment and biodiversity.
Moreover, the JTF will enhance the economic diversification of the regions by investing in innovative business infrastructures for small and medium-sized businesses and in renewable energy, notably solar energy and biomass.
Finally, workers of the peat and other affected sectors will be supported with specific trainings. In particular, around 1,600 workers will benefit from reskilling and upskilling.
The Territorial Just Transition Plans (TJTPs) identify the territories that will receive JTF support following a dialogue with the Commission and local partners in the framework of the negotiations of the 2021-2027 Partnership Agreements. The Partnership Agreement with Latvia was adopted in October 2022. The TJTPs also allow financing under InvestEU (a just transition scheme) and the Public Sector Loan Facility for Just Transition (combining Commission grants with European Investment bank loans).