Page 23 - European Energy Innovation - spring 2020 publication

Spring 2020 European Energy Innovation 23

JUST TRANSITION MECHANISM

The early signs at EU-level are Having worked on the InvestEU be no fresh money. The proposed
extremely promising. Under President Programme during the last mandate, figure of €7.5 billion is more than
Von der Leyen's new programme, I am particularly pleased that it is set even we in the Parliament had called
every Member State will be able to to play an important role in mobilising for; this is extremely welcome and
get support in order to help their investments into the impacted I hope that Council can give its full
most impacted regions cope with the regions. InvestEU builds on the support.
demands of a transition to a low- successful model of the Investment
carbon economy. Plan for Europe, the Juncker Plan, and The transition to an economy in line
is set to mobilise at least €650 billion with Paris Commitments is non-
This is excellent news for workers in additional investment. This can play negotiable; these targets simply
across the EU whose livelihoods an important part in revitalising those must be achieved. However, the
happen to depend on carbon- regions in transition that need it most. policies we need to get us there
intensive work. In Ireland, this means are not straightforward and difficult
workers involved in the extraction of Finally, I am pleased to see the decisions need to be taken. If we are
peat for energy; in Poland it is coal, Commission's proposal that to secure and maintain full public
and elsewhere it could be the need significant additional budgetary support for the needed ambition,
to decarbonise certain polluting resources be allocated to this we cannot allow anyone to be left
industrial practices. All actions come programme. When discussions began behind. Without a comprehensive
with a cost, and all necessitate on the Just Transition fund, the fear Just Transition Framework, we will
financial support to ensure it is done was always that existing funds would not meet our targets. I look forward
in a fair and inclusive way. simply be rebranded and there would to the work ahead. l

www.europeanenergyinnovation.eu