On 14th January 2020, the European Commission presented the European Green Deal’s Just Transition Mechanism and the Sustainable Europe Investment Plan.
The Just Transition Mechanism will, to assure that no one is left behind in the green transition - moving away from fossil fuels like coal, lignite, peat and oil shale - provide tailored financial and practical support to help workers and generate the necessary investments in regions most affected by the transition. It will make investments more attractive, with an overall financial package worth at least €100 billion.
The Investment Plan will mobilise public investment and help unlock private funds through EU financial instruments, notably InvestEU, leading to a total of at least €1 trillion of investments. This is needed if the EU is to become the first climate-neutral bloc in the world by 2050.
For more information, see: https://ec.europa.eu/info/news/launching-just-transition-mechanism-green-transition-based-solidarity-and-fairness-2020-jan-15_en?pk_campaign=DG%20ENER%20Newsletter%20january%202020