EU Cohesion Policy: €76 million for a just climate transition in Austria
Daily News 08 / 08 / 2022
Source: European Commission Spokesperson's Service
The Commission has adopted the Territorial Just Transition Plans (TJTPs) for Austria together with the first funding under the Just Transition Fund (JTF) worth €76 million. Austria will receive in total €136 million under the JTF to help make sure that the transition to climate neutrality does not leave anyone behind in the Austrian local economy and society.
Austrian regions and municipalities undergoing significant transformation which will receive support from the JTF are located in Upper Austria, Carinthia, Lower Austria, and Styria. These regions have a strong presence of carbon-intensive industries such as metals, paper, cement, and chemicals. The JTF supports the territories facing biggest challenges in the transition towards a climate-neutral economy. The identification of these territories is specified in TJTPs, and it is carried out through a dialogue with the Commission in the framework of the negotiations of the 2021-2027 Partnership Agreements and the associated programmes. The TJTPs, developed in close consultation with local partners, set out the challenges in each territory, as well as the development needs and objectives to be met by 2030. They also identify the types of operations envisaged along with specific governance mechanisms. The JTF is the first of the three pillars of the Just Transition Mechanism. The approval of TJTPs also opens the door to dedicated financing under the other two pillars: a specific scheme under InvestEU and a Public Sector Loan Facility for Just Transition that combines Commission grants with European Investment Bank loans.
More information in the press release.