25 August 2021
During the negotiations on the post-2020 EU budget, the European Commission estimated that 180 billion euro of yearly investments are needed to achieve the climate targets.
To achieve the climate change target in a fairer way, the European Commission proposed a Just Transition Mechanism and a Just Transition Fund (JTF). The Fund, equipped with EUR 7,5 billion, should support the territories most affected by the transition towards a climate neutral economy. The Fund should be increased to 20 billion euro. Indeed, the proposed amount of EUR 7,5 billion is largely insufficient to bridge the investment gap in the Member States heavily reliant on coal and with a GDP per capita below EU’s average.