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EU Cohesion Policy: €76 million for a just climate transition in Austria

The Commission has adopted the Territorial Just Transition Plans (TJTP) for Austria together with the first funding under the Just Transition Fund (JTF) worth €76 million. Austria will receive in total €136 million (in current prices) 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. 

Executive Vice-President for the European Green Deal, Frans Timmermans, recently said:

“The adoption of the Austrian Just Transition Plan together with the first JTF instalment is good news for Austria. The green economy is our future and the Just Transition Fund is here to support a smooth and fair green transition in Austria's regions that face the steepest path to climate neutrality.”

Commissioner for Cohesion and Reforms, Elisa Ferreira, recently said:

“I am very happy to see the adoption of the Plan and the first allocation from the Just Transition Fund for Austria. This programme will strengthen innovation and research to boost the climate transition while at the same time making sure that in this transition process no one is left behind.” 

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.

Support for entrepreneurship and green innovation

The plan will create employment and mitigate job losses linked to the green transition. This will be done by investing in the development of new business models and sustainable green business areas proactively accompanying companies in their transition process.

The plan will finance advisory services to local small and medium-sized businesses (SMEs) and start-ups (incubation, acceleration, related infrastructure investments) and local start-up ecosystems. This includes strengthening already established incubators, building new incubation capacities with a focus on green business models, and improving access to incubation capacities (e.g., in cooperation with tertiary education and research institutions).

Click here for the full press release

 

Original article link: https://ec.europa.eu/commission/presscorner/detail/en/IP_22_4862

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