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The European Parliament has approved the creation of a Just Transition Fund to compensate for action to achieve climate neutrality in the EU economy by 2050.
This is the first proposal to implement the European Green Pact, was adopted by 615 votes to 35, with 46 abstentions.
What is Just Transition Fund?
The Just Transition Fund (
JTF) is the first pillar of the Just Transition Mechanism (JTM).
It will be a key tool to support the territories most affected by the transition towards climate neutrality providing them with tailored support. It is implemented under shared management, under the overall framework of Cohesion policy, which is the main EU policy to reduce regional disparities and to address structural changes in the EU.
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The European Parliament has adopted the transitional regulation that will prolong the Common Agricultural Policy support measures for two more years to help the rural and farmer sector across Europe. This vote also gives the green light for the allocation of over â¬8 billion from the European Recovery Instrument (ERI) starting from 1st January 2021.
S&D shadow rapporteur on the CAP transitional provisions file, Clara Aguilera GarcÃa MEP, commented:
âToday is a good day for European farmers. The deal on transitional provisions for the Common Agricultural Policy after 2020, approved today by an overwhelming majority in the Parliament, will ensure stability for the next two years and financial support for the various parts of the agricultural sector, stemming from the current provisions of the CAP.  This was crucial to have the time to finalise the negotiations for the CAP reform and at the same time, ensureÂ
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