Just Transition Fund JTF
The EU established the Just Transition Fund, JTF, to reduce the negative impact of the climate transition. Finland’s EU funding from the JTF is approximately EUR 466 million. In addition, the Finnish government can allocate national funding to projects associated with the just transition.
Support for diversification of livelihoods in the region
The JTF will be directed at jobs in the green economy, new green technology solutions and related new business opportunities. The Finnish Just Transition plan will support about 1,900 SMEs in transition regions, which are suffering from economic decline and specific challenges caused by peripheric locations.
The Fund will also provide new opportunities for businesses to cooperate with research institutes: around 4,000 businesses will benefit from this opportunity. Thanks to this, 1,800 new innovations, services or products are expected. The aim is to create 3,700 new jobs in the areas most significantly impacted by the transition to a climate neutral economy.
Implementation of JTF funding is steered by the Territorial Just Transition Plans. The JTF funding allocated to South Savo (43 million EUR) , North Savo (82 million EUR) and North Karelia (55,5 million EUR) for the program period 2021–2027 amounts to approx. 180 million EUR together, including 140 million EUR from EU.
JTF is included in the EU regional and structural policy program Innovation and Skills in Finland 2021–2027.
Read more on JTF under Innovation and Skills in Finland.