Welcome to the European Parliamentary Research Service podcast on the EU's Just Transition Fund.

The EU aims to cut greenhouse gas emissions by at least 50% by 2030 and achieve climate neutrality by 2050.

But the green transition 2050 won't happen without making some financial investments.

Hence the Just Transition Fund to support those regions most affected by the transition to low-carbon economy.

But how big will this fund be and how will it work? Stay with us.

The European Union has set itself on an ambitious green path.

Climate neutrality by 2050.

But that's easier said than done.

Reducing greenhouse gas emissions will have an impact on jobs and regional economies,

especially in regions relying on fossil fuels

and carbon-intensive industries. To support these, in January 2020, the European Commission

proposed the creation of a just transition fund. Now, what is new about this proposal?

Well, the EU counts several funds that support the shift to a low-carbon economy in one way or another,

including the European Structural and Investment Fund, the Regional Development Fund,

the Cohesion Fund or the European Social Fund.

There are also several investment programmes that support climate transition, such as the European

Fund for Strategic Investments, which is soon to be replaced by the InvestEU program.

The difference with the future Just Transition Fund is that this would offer much more tailored

support to the Just Transition regions.

Something the Parliament had been calling for since 2018.

But how will it work in practice? Stay with us.

Well, first of all, it's important to know that funding will be available to all member states,

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