The €17.5 billion Just Transition Fund (JTF), which will help EU countries address the social and economic impact of the transition to climate neutrality, has just gotten the final approval from the European Parliament. The proposal was adopted on May 18 by 615 votes in favour, 35 against and 46 abstentions.

The package comprises €7.5 billion from the 2021-2027 Multiannual Financial Framework and an additional €10 billion from the EU Recovery Instrument. To be eligible, projects must focus on economic diversification, reconversion or job creation, or they must contribute to a transition to a sustainable, climate-neutral and circular European economy.

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